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 (NYSE: PM) CEO Jacek Olczak addressed investors today at the Goldman Sachs Global Staples Forum, focusing on the company's transformation towards a smoke-free future. PMI aims to replace cigarettes with smoke-free alternatives, benefiting smokers and society. The company operates in 66 markets, and as of March 31, 2021, around 14 million adults have switched to its IQOS device. A live webcast of the session is available, alongside slides on PMI's investor relations page.
Philip Morris International (PMI) released its Integrated Report 2020, outlining its ESG performance and plans for a smoke-free future. PMI aims to transition over 40 million adult smokers to smoke-free products by 2025, with those products constituting over 50% of total revenue. The report highlights a 23.8% revenue contribution from smoke-free products in 2020, a substantial increase from 0.2% in 2015. PMI also announced new 2025 goals for market availability and revenue from beyond nicotine products. The report emphasizes the integration of sustainability into corporate strategy.
The FDA has initiated a public comment period regarding Philip Morris International's (PM) application to market the IQOS 3 as a Modified Risk Tobacco Product (MRTP). This application seeks similar reduced exposure marketing orders previously granted for the IQOS 2.4 system. The IQOS 3 features technological advancements like longer battery life. PMI emphasizes its commitment to a smoke-free future and has invested over $8 billion in smoke-free products. The company aims to replace traditional cigarettes with scientifically substantiated alternatives.
Philip Morris International (PMI) announced that S&P Global Ratings' ESG Evaluation has positioned the company favorably within the tobacco sector, highlighting its commitment to a smoke-free future. PMI ranks third in E-entity, eighth in S-entity, and 15th in G-entity scores among 25 evaluations. The company targets over 50% of its revenues from smoke-free products by 2025 and aims for at least $1 billion from 'beyond nicotine' products. PMI's significant investments in reduced-risk products and management upskilling have been acknowledged as crucial for achieving these goals.
Philip Morris International (PMI) will host a live video webcast on May 18, 2021, at approximately 9:40 a.m. ET during the 2021 Goldman Sachs Global Staples Forum. CEO Jacek Olczak will deliver remarks and engage in a Q&A session, accessible via the company's website or their Investor Relations mobile app.
PMI is focused on transforming the tobacco industry towards a smoke-free future, currently offering smoke-free products in 66 markets. An archived webcast will be available until June 16, 2021, along with presentation slides.
Philip Morris International (PM) has appointed Jacek Olczak as its new Chief Executive Officer, succeeding André Calantzopoulos, who becomes Executive Chairman. Olczak, previously Chief Operating Officer, aims to accelerate the company’s smoke-free transformation, targeting over 50% of net revenues from smoke-free products by 2025. Under Olczak's leadership, PM has expanded its smoke-free product sales to 66 markets, with 28% of net revenues from these products in Q1 2021. The appointment was confirmed during PMI’s 2021 Annual Shareholders Meeting, where they also elected 13 board nominees.
Philip Morris International (NYSE: PM) will conduct a live audio webcast of its 2021 Annual Meeting of Shareholders on May 5, 2021, at 9:00 a.m. ET. The meeting is exclusively virtual, accessible at www.virtualshareholdermeeting.com/PMI2021. Executive Chairman André Calantzopoulos and CEO Jacek Olczak will address shareholders, who must have a valid control number to participate. Archived webcasts and presentation materials will be available for one year post-meeting. PMI aims to replace cigarettes with smoke-free products, with 14 million adults having switched to IQOS.
Philip Morris International Inc. (NYSE: PM) announced strong first-quarter results for 2021. Reported diluted EPS reached $1.55, a 32.5% increase. Adjusted diluted EPS was $1.57, up by 29.8%. Although cigarette shipments decreased by 7.3%, heated tobacco unit shipments surged by 29.9% to 21.7 billion. Net revenues rose 6.0%, with smoke-free products contributing 28.0% of total revenues. The company increased its full-year guidance, expecting organic adjusted diluted EPS growth of 11% to 13% and net revenue growth of 5% to 7%. A quarterly dividend of $1.20 was declared.
Philip Morris International (NYSE: PM) will host a live audio webcast on April 20, 2021, at 9:00 a.m. ET to discuss its 2021 First-Quarter results, released at 7:00 a.m. ET that day. CFO Emmanuel Babeau will present the results and respond to inquiries from investors and media. Access the webcast via mobile app or the website until May 19, 2021. PMI is committed to a smoke-free future, aiming to replace cigarettes with smoke-free products, with over 12.7 million adults having switched to the IQOS system as of December 2020.
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