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 reported a 2023 Q1 diluted EPS of $1.28, down 14.7% YoY, while adjusted diluted EPS was $1.38, a 4.4% decrease. The company anticipates a full-year diluted EPS between $5.88 and $6.00 and adjusted diluted EPS of $6.10 to $6.22, indicating 7% to 9% growth. Total shipments of cigarettes and heated tobacco units (HTU) were 171.1 billion units, a slight decline of 1.1%. Net revenues rose 9.6% excluding currency factors, reaching $8.0 billion. Smoke-free product revenues grew 14.5%, accounting for 34.9% of total revenues. Despite the revenue growth, operating income decreased by 17.2% due to inflationary pressures and costs associated with the Swedish Match acquisition. The guidance for 2023 expects a cigarette volume decline of 2.5% to 3.5% and an adjusted operating income margin decline of up to 150 basis points.
Philip Morris International (PMI) will host a live audio webcast on April 20, 2023, at 9:00 a.m. ET to discuss its Q1 2023 financial results, which will be released earlier that day at 7:00 a.m. ET.
The session, led by CFO Emmanuel Babeau, will include financial discussions and a Q&A with investors and the media. PMI aims to deliver a smoke-free future, having invested over USD 10.5 billion since 2008 to develop smoke-free products. Known brands include IQOS and ZYN. As of December 31, 2022, approximately 17.8 million adults have switched to IQOS, contributing to 32% of PMI's 2022 net revenues. The webcast will be accessible on various platforms and archived for later access.
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