Welcome to our dedicated page for Philip Morris news (Ticker: PM), a resource for investors and traders seeking the latest updates and insights on Philip Morris stock.
Philip Morris International Inc. (PM) is a leading American multinational tobacco company that has built a global presence with its products being sold in over 180 countries. Known for its flagship product, Marlboro, Philip Morris International is a major player in the tobacco industry, often referred to as part of 'Big Tobacco'.
The company's portfolio is extensive, primarily consisting of traditional cigarettes but also embracing reduced-risk products. These include heat-not-burn devices, vapor products, and oral nicotine products, which are marketed in regions outside the United States. Recent strategic moves highlight their shift towards diversification. In 2022, Philip Morris International acquired Swedish Match, a prominent manufacturer of traditional oral tobacco products and nicotine pouches, boosting their presence in the US and Scandinavian markets.
In a bid to expand beyond nicotine-based products, Philip Morris International acquired Vectura in 2021. Vectura specializes in innovative inhaled drug delivery solutions, marking the company's foray into the healthcare sector.
Financially, Philip Morris International has demonstrated resilience and adaptability, managing to sustain growth through an evolving product lineup and strategic acquisitions. With a strong focus on innovation and a commitment to reducing the harmful effects of tobacco, the company is well-positioned to navigate the challenges of an industry in transition.
Philip Morris International's latest news can be found on their official website, providing current updates on their financial performance, new product launches, partnerships, and other significant developments.
Philip Morris International (NYSE: PM) reported a third-quarter diluted EPS of $1.34 and an adjusted diluted EPS of $1.53, reflecting an 8.3% currency-neutral growth. The company targets a full-year reported diluted EPS between $5.47 and $5.62, with adjusted EPS forecasts of $5.81 to $5.96. Smoke-free products contributed 30.1% of total revenues, growing IQOS user numbers to approximately 19.5 million. Despite challenges like supply chain issues and inflation, the firm raised its growth outlook for adjusted net revenues to 6.5%-8%, aiming for a majority smoke-free revenue by 2025.
Philip Morris International (PMI) announced a significant agreement with Altria Group to terminate their commercial relationship regarding IQOS in the U.S. effective April 30, 2024. PMI will pay
On October 20, 2022, Philip Morris Holland Holdings B.V., an affiliate of Philip Morris International (PM), enhanced its public offer to acquire Swedish Match AB shares, raising the offer price to SEK 116 per share. This revised offer represents a premium of 52.5% over the last closing price before the initial offer. PMHH will not increase this price further due to regulations. The offer is crucial for capturing Swedish Match's cash flow potential, particularly from U.S. markets. Acceptance period ends on November 4, 2022.
Philip Morris International (NYSE: PM) will hold a live audio webcast on
On May 11, 2022, Philip Morris Holland Holdings B.V. announced a public offer to acquire shares of Swedish Match AB. The acceptance period has been extended multiple times, with the latest deadline set for November 4, 2022. Regulatory approvals have been largely obtained, except for one from the European Commission, which is pending. As of October 3, 2022, shareholders have tendered approximately 0.51% of Swedish Match's shares. The merger aims to align with Philip Morris's strategy in a challenging market environment.
The Framtiden Partnerships, a long-term shareholder of Swedish Match, opposed Philip Morris International's takeover bid of SEK 106 per share, deeming it undervalued. Framtiden estimates Swedish Match's intrinsic value at around SEK 200 per share, arguing the offer overlooks the company's growth potential in the non-tobacco nicotine market, particularly with its ZYN products. The Partnerships, owning approximately 1% of shares, expressed concerns that accepting the offer would force long-term investors to realize capital gains prematurely. They urge shareholders to reconsider the bid in light of Swedish Match's promising future.
Philip Morris International (PMI) is advocating for a world without cigarettes as the United Nations General Assembly convenes. The company has released a white paper titled Rethinking Disruption: Innovating for Better in an Era of Division, sharing insights from a survey of 17,207 adults across 14 countries. Key findings indicate widespread support for new technologies addressing health issues, particularly smoking. PMI emphasizes the importance of collaboration among stakeholders to enhance public health and promote smoke-free alternatives. Since 2008, PMI has invested over USD 9 billion in smoke-free product development, aiming to phase out cigarette sales.
The Board of Directors of Philip Morris International (NYSE: PM) has announced a 1.6% increase in its quarterly dividend, raising the annualized rate to $5.08 per share. The new quarterly dividend will be $1.27, effective October 12, 2022, for shareholders on record as of September 28, 2022. The ex-dividend date is September 27, 2022. PMI continues to innovate in the smoke-free sector, having invested over $9 billion in smoke-free products since 2008, aiming to shift its portfolio from traditional tobacco products.
Philip Morris International (PM) has appointed Dr. Badrul Chowdhury as Chief Life Sciences Officer and Dr. Matthew Holman as Vice President of U.S. Scientific Engagement and Regulatory Strategy. The appointments aim to enhance PM's science-based transformation towards a smoke-free future. Dr. Chowdhury, previously with the U.S. FDA and biotech sectors, brings extensive regulatory expertise. Dr. Holman, also ex-U.S. FDA, will strengthen PM's engagement with regulatory bodies. These strategic moves reflect PM's commitment to advancing innovative, smoke-free products.
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