Welcome to our dedicated page for Philip Morris International news (Ticker: PM), a resource for investors and traders seeking the latest updates and insights on Philip Morris International 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.
The Board of Directors of Philip Morris International (NYSE:PM) has declared a quarterly dividend of $1.25 per common share, payable on January 10, 2022, to shareholders of record as of December 23, 2021. The ex-dividend date is December 22, 2021. This reflects PMI's commitment to rewarding shareholders while transitioning to a smoke-free future, aiming to replace cigarettes with smoke-free products. As of September 30, 2021, PMI's smoke-free products are available in 70 markets, with approximately 14.9 million adults having switched to IQOS.
Philip Morris International (PM) has been recognized for the second consecutive year as a global environmental leader by CDP, achieving the esteemed "Triple A" score for its exceptional performance in climate change, forest protection, and water security.
This acknowledgment highlights PMI's dedication to transparency and sustainability. Key initiatives include plans for all factories to achieve carbon neutrality by 2025 and a commitment to biodiversity through the Zero Deforestation Manifesto. PMI aims to prioritize sustainability as it transitions to a smoke-free future, underlining its responsibility to minimize environmental impact.
Philip Morris International (PM) has revised its full-year 2021 diluted EPS forecast to a range of
Philip Morris International (PM) will host a live video webcast featuring Chief Financial Officer Emmanuel Babeau at the Morgan Stanley Virtual Global Consumer & Retail Conference on December 1, 2021, at 8:00 a.m. ET. The event aims to discuss PMI's transformation towards a smoke-free future, where the company focuses on replacing cigarettes with smoke-free alternatives. Presentation slides will be available on the company's website, and an archived version of the webcast can be accessed until December 30, 2021. Currently, PMI's innovative smoke-free products are sold in 70 markets worldwide.
Philip Morris International (PMI) announces the relocation of its corporate headquarters to Stamford, Connecticut, with an expected opening in summer 2022. This move is poised to create approximately 200 jobs and contribute around $50 million to the state's economy. The 71,484 square foot facility will serve as a hub for PMI’s Americas region and amplify its commitment to a smoke-free future. PMI aims to transition to a majority smoke-free product portfolio by the end of 2025, with nearly 30% of net revenues coming from non-combustible products as of Q3 2021.
Philip Morris International (PM) has expressed support for the U.K. government’s initiative to simplify the licensing of electronic cigarettes and inhaled nicotine-containing products as medicines. This landmark proposal aims to combat smoking disparities, especially in low-income areas, promoting e-cigarettes as less harmful alternatives. Currently, around 27.2% of U.K. smokers use e-cigarettes, indicating a shift to better smoking alternatives. The company emphasizes that regulated e-cigarettes contribute positively to public health and encourages other nations to adopt similar policies.
Philip Morris International (PMI) has committed an additional USD 200 million to PM Equity Partner (PMEP) for minority investments in early and growth-stage companies, building on a previous USD 150 million investment. This funding will support PMI's goal of advancing smoke-free products. The investments will focus on four technology segments: life sciences, industrial technologies, product technologies, and consumer engagement technologies. PMI's transition has seen 29% of its net revenues from smoke-free products, with approximately 14.9 million smokers switching to their IQOS system.
Philip Morris International (PMI) announced a new category management structure to enhance its smoke-free and combustible cigarettes businesses. Stefano Volpetti has been appointed President of the Smoke-Free Products Category and Chief Consumer Officer, while Werner Barth becomes President of the Combustibles Category and Global Combustibles Marketing, effective November 1, 2021. PMI aims to accelerate growth and achieve smoke-free product availability in 100 markets by 2025, targeting over 50% of net revenues from these products. As of September 30, 2021, smoke-free products accounted for approximately 29% of PMI's total net revenues.
Philip Morris International (PM) has unveiled its Low Carbon Transition Plan (LCTP), aiming for carbon neutrality in direct operations by 2025 and across its entire value chain by 2040. This plan emphasizes supplier engagement and the adoption of science-based targets to meet the Paris Agreement goals. The company employs a three-step approach: enhancing energy efficiency, transitioning to renewable sources, and investing in nature-based solutions. PMI has received recognition for its climate actions, achieving a perfect score in the Dow Jones Sustainability Index.
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