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.
Philip Morris International (PM) is advocating for a united effort against illicit trade following a KPMG report that identifies a rising trend in the consumption of illegal cigarettes across 30 European countries. The report highlights that the share of illicit cigarettes increased to 7.8% in 2020, with counterfeit cigarette consumption skyrocketing by 87%. This situation results in an estimated tax loss of €8.5 billion for governments in the EU. PMI emphasizes the importance of collaboration among stakeholders to combat this issue, which undermines public health initiatives aimed at reducing smoking.
Philip Morris International (PMI) (NYSE:PM) announced its relocation of corporate headquarters from New York to Connecticut, expected to be operational by summer 2022. The move will create about 200 jobs in Connecticut, contributing to the local economy. PMI aims to accelerate its transformation towards a smoke-free future by utilizing technological advancements and expertise in life sciences. The company seeks to develop noncombustible alternatives and has achieved significant recognition for its sustainability efforts and gender equity.
Philip Morris International (PMI) announced a new Americas structure with Deepak Mishra appointed as President, effective July 1, 2021. This reorganization aims to enhance leadership in Latin America and Canada, promote reduced risk products in the U.S., and support PMI's 'beyond nicotine' strategy. CEO Jacek Olczak praised Mishra's strategic insights and experience from his previous roles. The changes include the retirement of Martin King, previous CEO of PMI America, and a shift in the reporting structure for the Strategy & Program Delivery function.
The Board of Directors of Philip Morris International (NYSE:PM) has authorized a new share repurchase program up to $7 billion, targeting $5 to $7 billion over three years, effective after the Q2 2021 earnings call. A quarterly dividend of $1.20 per share was also declared, payable on July 12, 2021. Since its 2008 spin-off, the company has returned approximately $115 billion to shareholders through dividends and repurchases. These actions underscore PMI's commitment to rewarding shareholders while transitioning to smoke-free products.
Philip Morris International (PM) has launched the third funding round of PMI IMPACT, an initiative aimed at combating illegal trade. Projects addressing various forms of illicit trade, including counterfeit goods and illicit tobacco, are now invited for funding. Applications are accepted from global organizations until deadlines on Sept. 15, 2021, Feb. 15, 2022, and Aug. 15, 2022. PMI has allocated $48 million to date across 60 projects in 30 countries, from a pledged $100 million for these funding rounds. The initiative emphasizes the need for innovative solutions, particularly in light of COVID-19's impact on trade.
Philip Morris International (PMI) has launched the United to Safeguard America from Illegal Trade (USA-IT) initiative aimed at combating illegal trade across eight U.S. states including California and Florida. The campaign seeks to raise awareness and equip local officials and law enforcement with resources to tackle black market issues exacerbated by the COVID-19 pandemic. PMI collaborates with various organizations to tackle counterfeit goods, which have surged nearly 40 percent since January 2020, and emphasizes the need for public-private partnership in combating the issue.
Philip Morris International (NYSE:PM) CFO Emmanuel Babeau will present today at the Deutsche Bank Global Consumer Conference, starting at 8:00 a.m. ET. A live audio call can be accessed at www.pmi.com/2021deutschebank. PMI reaffirms its adjusted diluted EPS forecast for 2021 of $5.95 to $6.05, representing an 11% to 13% increase over 2020. The company projects second-quarter adjusted diluted EPS between $1.50 and $1.55, aided by strong growth in heated tobacco unit shipments, particularly in the EU, Japan, and Russia. PMI will report Q2 earnings on July 20, 2021.
Philip Morris International (NYSE: PM) is set to host a virtual audio call featuring Emmanuel Babeau, CFO, at the Deutsche Bank Global Consumer Conference on June 8, 2021, at 8:00 a.m. ET. Interested participants can register for dial-in details at www.pmi.com/2021deutschebank. This call aims to discuss PMI’s ongoing shift towards smoke-free products, reflecting its commitment to public health, with approximately 14 million adults having already transitioned to IQOS as of March 31, 2021.
Philip Morris International (PMI) has released its latest Scientific Update, highlighting research on smoke-free alternatives and new initiatives for products devoid of tobacco and nicotine. The report details achievements from 2020 and ongoing research, including the FDA's authorization of the IQOS tobacco heating system as a modified risk tobacco product. PMI is committed to transforming the tobacco industry by replacing cigarettes with healthier options, currently offering smoke-free products in 66 markets.
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