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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's affiliate, Swedish Match North America (SMNA), received a subpoena from the Attorney General of the District of Columbia. This request concerns SMNA's compliance with D.C.'s ban on flavored nicotine products, specifically ZYN nicotine pouches.
Sales of these products have been identified in D.C., mainly through online platforms and independent retailers. SMNA is conducting a thorough review of its sales and supply chain in D.C. and other areas with similar bans.
As a preliminary measure, SMNA has suspended online sales of ZYN products on ZYN.com. PMI reaffirms its commitment to 21+ access and compliance with U.S. laws. SMNA's online sales represent a small fraction of the nationwide ZYN volumes.
PMI aims to deliver a smoke-free future and has invested over $12.5 billion in smoke-free product development. Their smoke-free products accounted for 37% of PMI's total net revenues in 2023, with approximately 33 million global users.
Philip Morris International (PMI) has committed over $3 million to support U.S. veterans this year, with part of this funding directed towards legal clinics at select law schools. The initiative, informed by PMI's white paper 'Serving Those Who Served,' aims to assist veterans in their transition to civilian life. PMI has awarded an initial $850,000 to these clinics, which will provide veterans access to legal support. This move is part of PMI’s broader veterans support program established in 2022, following its acquisition of Swedish Match. PMI also supports the Bob Woodruff Foundation and other organizations to enhance veterans' lives. In 2022-2023, PMI donated over $1 million to veterans' organizations, including a $500,000 grant to Iraq and Afghanistan Veterans of America. PMI’s efforts reflect its commitment to social responsibility and expanding its U.S. market presence.
Philip Morris International (PMI) declared a regular quarterly dividend of $1.30 per share, payable on July 8, 2024, to shareholders of record by June 21, 2024. PMI is focusing on a smoke-free future, investing over $12.5 billion since 2008 in the development and commercialization of smoke-free products. The company's smoke-free products make up 37% of their total revenue and are available in 84 markets. PMI acquired Swedish Match in 2022, further solidifying its position in the smoke-free market with brands like IQOS and ZYN. PMI is also expanding into wellness and healthcare through Vectura Fertin Pharma.
Philip Morris International (PMI) announced a charity concert on August 8, 2024, in Stamford, Connecticut, featuring Wyclef Jean. The event, part of the Alive at Five concert series, will benefit Career Resources, Inc. (CRI), supporting workforce development for military veterans. PMI will donate the artist fees for Wyclef’s performance and launch a text-to-donate campaign during the concert. PMI emphasizes its commitment to community support and economic development in Stamford since relocating its headquarters there in 2022. The company also contributes to various local initiatives, including women's business development and mental health programs.
Philip Morris International (PM) has secured the top spot in Forbes' 2024 Net Zero Leaders ranking, emphasizing its leadership in reducing greenhouse gas (GHG) emissions. Forbes' evaluation included criteria such as risk assessment, governance, decarbonization strategies, and financial strength. PMI's CEO, Jacek Olczak, highlighted the company's commitment to transforming towards a smoke-free future sustainably. Achievements mentioned include inclusion in CDP's Supplier Engagement Leader Board and attaining a Triple A rating for environmental transparency. PMI's goal is to reach net zero emissions by 2040, validated by the Science Based Targets initiative (SBTi) for its Forest, Land, and Agriculture (FLAG) emissions reduction targets. PMI continues to expand its smoke-free product portfolio, which accounted for 37% of its 2023 net revenues. The company has also invested significantly in wellness and healthcare sectors through Vectura Fertin Pharma.
Philip Morris International (NYSE: PM) announced at the 2024 Deutsche Bank Global Consumer Conference that it is raising its 2024 full-year reported and adjusted diluted EPS forecast due to favorable currency factors. The revised forecast for reported diluted EPS is $5.77 to $5.89, with adjusted diluted EPS expected to be $6.26 to $6.38, representing a 4.2% to 6.2% increase compared to 2023. Excluding currency impacts, this translates to a growth forecast of 9.0% to 11.0%. The positive outlook is supported by strong momentum in their IQOS and ZYN products and the resilience of their combustible business.
Philip Morris International (PMI) will be hosting a live webcast at the 2024 Deutsche Bank Global Consumer Conference on June 4, 2024, at 8:30 a.m. CET (2:30 a.m. ET).
The session will feature remarks and a Q&A with CFO Emmanuel Babeau. The webcast, including presentation slides, will be available on www.pmi.com/2024deutschebank and through PMI's Investor Relations Mobile App. An archived copy will be accessible until July 5, 2024.
PMI aims to deliver a smoke-free future and has invested over $12.5 billion in smoke-free products since 2008. Their portfolio includes both cigarettes and smoke-free products, with smoke-free products accounting for 37% of their 2023 net revenues. PMI continues to expand into wellness and healthcare sectors through Vectura Fertin Pharma.
Philip Morris International Inc. (NYSE: PM) conducted its 2024 Annual Meeting of Shareholders, featuring an address by Executive Chairman André Calantzopoulos and a business presentation by CEO Jacek Olczak. The company highlighted its strong performance in 2023, rapid progress in smoke-free products, excellent momentum in heat-not-burn and nicotine pouch categories, and continued dedication to sustainability and rewarding shareholders. PMI's strategy to transition into a smoke-free company has yielded significant growth, with smoke-free products contributing nearly 40% of total net revenues and over 40% of gross profit in Q4 2023. The meeting saw strong shareholder participation, with the election of 12 directors, approval of executive compensation, and ratification of auditors. PMI will release final voting results in a Form 8-K filing with the SEC. The webcast and presentation materials will be available on the company's website.
Philip Morris International Inc. presented at the Jefferies Virtual Reduced Risk Seminar, focusing on the science of smoke-free products and nicotine, as well as innovation in smoke-free products. PMI is actively working towards a smoke-free future and has invested in developing smoke-free products to replace cigarettes. The company acquired Swedish Match in 2022, expanding its product portfolio. PMI's smoke-free products were available in 84 markets by the end of 2023, with approximately 33 million adults using them. The smoke-free business accounted for about 37% of PMI's total revenues in 2023.
Philip Morris International Inc. (PMI) will present at the 2024 Jefferies Virtual Reduced Risk Seminar on May 7, 2024, showcasing their commitment to a smoke-free future. The company has invested significantly in developing innovative smoke-free products, with a portfolio that includes cigarettes and other alternatives. PMI's smoke-free products are authorized by the FDA and are available in 84 markets worldwide. In 2022, PMI acquired Swedish Match, a leader in oral nicotine delivery, further solidifying their position in the smoke-free market. With a strong focus on scientific research and expansion into wellness and healthcare, PMI aims to enhance life through health experiences.
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