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) presented its growth strategy in a virtual investor meeting, reaffirming its 2021 diluted EPS forecast between $5.90 and $6.00, a projected 14% to 16% increase from 2020. The company set ambitious targets for 2021-2023, aiming for over 5% organic growth in net revenue and over 9% in adjusted diluted EPS. Upcoming product launches include IQOS ILUMA and IQOS VEEV. PMI expects smoke-free products to surpass 50% of net revenues by 2025 and aims for $1 billion in revenues from beyond nicotine products by the same year.
Philip Morris International (PMI) has appointed Bonin Bough as a new member of its Board of Directors, effective immediately. Bough, aged 43, is a well-regarded executive with experience in growth and marketing at notable companies like Unilever and Mondelez International. Interim Chairman Lucio Noto welcomed Bough, emphasizing the importance of digital expertise in PMI's mission to transition to smoke-free products. PMI is committed to replacing cigarettes with smoke-free alternatives and has made significant strides, with approximately 12.7 million adults globally having switched to its IQOS device.
Philip Morris International Inc. (NYSE:PM) reported its 2020 fourth-quarter and full-year results, showcasing resilience amid the COVID-19 pandemic. Full-year reported diluted EPS rose 11.9% to $5.16, while adjusted diluted EPS declined slightly by 0.4% to $5.17. Total shipments dropped by 8.1%, yet heated tobacco units surged by 27.6%. The company expanded its IQOS market share, ending 2020 with an estimated 17.6 million users. PMI forecasts mid-single-digit organic net revenue growth for 2021, projecting adjusted diluted EPS growth between 9% to 11%. The quarterly dividend was increased by 2.6% to $4.80.
Philip Morris International (PMI) will host a live video webcast for its 2021 Investor Day on February 10, 2021, from 8:30 a.m. to 1:30 p.m. ET. Senior management will present and engage in a Q&A session, accessible via www.pmi.com/2021InvestorDay. An archive of the session will be available until March 11, 2021, at 5:00 p.m. ET. PMI is focused on creating a smoke-free future, encouraging adult smokers to transition to smoke-free products, including the IQOS platform, which has already helped approximately 11.7 million smokers switch.
Philip Morris International Inc. (PMI) has signed a memorandum of understanding with the U.S. Department of Homeland Security's National Intellectual Property Rights Coordination Center. This partnership aims to combat illicit tobacco trade and support investigations into intellectual property rights violations. PMI's head of illicit trade prevention emphasized the importance of this cooperation to disrupt criminal organizations profiting from this trade. The agreement builds on previous initiatives to enhance national security and protect consumers from illicit products.
Philip Morris International (NYSE: PM) will host a live audio webcast on February 4, 2021, at 10:30 a.m. ET to discuss its 2020 Fourth-Quarter and Full-Year results. The results will be disclosed at 8:00 a.m. ET the same day. CFO Emmanuel Babeau will present the financial outcomes and the 2021 outlook, with Q&A from the CEO and COO. The event will be accessible in listen-only mode, and an archived version will be available until March 5, 2021. PMI focuses on a smoke-free future, with 11.7 million adult smokers having switched to its IQOS product.
Philip Morris International (PMI) has appointed Jorge Insuasty as Chief Life Sciences Officer, effective January 15, 2021. Insuasty, who has extensive experience in the pharmaceutical industry, succeeds John O’Mullane, who is retiring. CEO André Calantzopoulos highlighted Insuasty's transformational leadership and his role in advancing product portfolios. Insuasty previously held significant positions at Sanofi and Novartis, leading successful drug approvals and innovations. PMI aims to create a smoke-free future by replacing traditional cigarettes with smoke-free alternatives, benefiting adult smokers.
Philip Morris International (NYSE:PM) will redeem all outstanding 1.875% Notes due February 25, 2021, on January 25, 2021. As of December 15, 2020, $750 million in principal was outstanding. PMI will pay the registered holders 100% of the principal amount plus accrued interest. This release does not constitute a notice of redemption. PMI is transitioning to a smoke-free future, encouraging adult smoking cessation with its IQOS product, which has moved approximately 11.7 million adults to smoke-free alternatives across 61 markets. For more, visit www.pmi.com.
Philip Morris International (PM) announced a leadership succession plan set to be finalized in May 2021. André Calantzopoulos will transition from CEO to Executive Chairman, while Jacek Olczak will become the new CEO. This change follows Mr. Louis Camilleri's retirement as Chairman. The transition aims for continuity in leadership, highlighting the company’s strategic vision and achievements in smoke-free product development. Olczak, with extensive experience in the company, is expected to drive future innovation and shareholder value.
The Board of Directors of Philip Morris International (NYSE: PM) has declared a quarterly dividend of $1.20 per common share, payable on January 11, 2021, to shareholders on record as of December 23, 2020. The ex-dividend date is December 22, 2020. PMI is committed to transforming the tobacco industry towards a smoke-free future, aiming to replace traditional cigarettes with innovative smoke-free products, such as the IQOS device, which has attracted over 11.7 million adult smokers globally.
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