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Category: Business & Finance

  • PMI Reports Higher Third-Quarter Revenue

    PMI Reports Higher Third-Quarter Revenue

    Philip Morris International reported third-quarter 2026 net revenue of $11.4 billion, up 5.5% from a year earlier, while operating income increased 14.1% to $4.9 billion. Adjusted diluted earnings per share rose 5.4% to $2.36. Shipment volume increased 0.6% to 206.2 billion cigarette-equivalent units, including 2.7% growth in smoke-free products. Smoke-free products accounted for more than 40% of quarterly revenue.

    IQOS heated-tobacco unit shipments rose 1.5% to 41.5 billion, while VEEV e-vapor shipments increased 61.6%. In the United States, ZYN nicotine pouch shipments grew 4.2% to 3.2 billion pouches. PMI raised its regular quarterly dividend 8.8% to $1.60 per share and updated its 2026 adjusted diluted earnings-per-share forecast to $8.29 to $8.44, excluding currency effects.

    Following PMI’s third-quarter results, Reuters reported that the company faces rising cost pressures from the war in the Middle East, including energy-related inflation expected to worsen in the fourth quarter. Strikes in Ukraine have also disrupted operations, and PMI expects the effects to continue weighing on operating income this year. The company said the broader effects on consumers and global costs remain difficult to assess, although the situation is currently manageable.

    Reuters also highlighted slower ZYN growth amid competition from British American Tobacco’s Velo. PMI plans to increase investment in ZYN and transition most of its U.S. nicotine pouch portfolio from 15-pouch to 20-pouch cans. Reuters reported that PMI shares fell 3% in premarket trading following the results.

  • IGEN, Vertex Expand Excise Tax Compliance Integration

    IGEN, Vertex Expand Excise Tax Compliance Integration

    IGEN and Vertex Inc. expanded their collaboration to integrate IGEN’s excise tax calculation capabilities into Vertex’s SAP-certified connector, allowing businesses to manage excise and other indirect taxes within a single transaction flow. The solution is designed for companies in highly regulated industries, including tobacco and oil and gas, and supports enterprises transitioning to SAP S/4HANA. IGEN’s system calculates excise taxes based on products, movements, and regulatory requirements, while Vertex provides sales and use tax, value-added tax, and goods and services tax capabilities.

    The integration is intended to simplify tax reconciliation and audit preparation. IGEN President Ryan Padget and Vertex Chief Strategy Officer Chirag Patel said the companies plan to expand the collaboration, with integrations for additional enterprise resource planning systems planned for the future.

  • Haypp to End Snusnetto Sales After Age-Verification Ruling

    Haypp to End Snusnetto Sales After Age-Verification Ruling

    Haypp Group subsidiary Snusbolaget Norden AB stopped selling tobacco and nicotine products through Snusnetto.se effective Oct. 19, after Sweden’s Supreme Administrative Court declined to hear an appeal concerning age verification for parcel locker deliveries. The decision follows a ruling by the Stockholm Administrative Court of Appeal that geo-located BankID verification at parcel lockers does not meet legal requirements for secure age verification. The closure affects about 500 active customers and is not expected to have a material impact on Haypp Group’s financial results.

    Haypp’s other Swedish e-commerce sites are introducing a new verification system that checks the age of the person opening the parcel locker and collecting the shipment. The rollout began in October and is expected to be completed by the end of the month. The changes do not affect deliveries to staffed collection points, where employees verify recipients’ ages when handing over parcels.

  • JTI Philippines Names Alan Jackson General Manager

    JTI Philippines Names Alan Jackson General Manager

    JTI Philippines appointed Alan Jackson as general manager, where he will oversee the company’s portfolio that includes Winston, Camel, Mevius, LD, Mighty, Nordic Spirit nicotine pouches, and Ploom Aura heated tobacco products. Jackson joined JTI in 2007 and has held leadership positions across several regions, including general manager roles in Tanzania and Canada and vice president of marketing and sales for JTI’s South Asia region.

    JTI Philippines said Jackson will focus on business growth, product innovation, and efforts to combat illicit tobacco trade through cooperation with government and industry stakeholders. The company began operations in the Philippines in 2000 and operates a market office and global services center in Taguig City, a manufacturing facility in Malvar, Batangas, and nearly 40 branch offices nationwide. It employs about 5,500 people.

  • JT to Expand Nordic Spirit Retail Availability in Japan

    JT to Expand Nordic Spirit Retail Availability in Japan

    Japan Tobacco (JT) said it will launch Nordic Spirit Rich Melon Medium nicotine pouches at select tobacco retailers in Japan on Nov. 2. The company will also expand retail availability of three varieties previously sold through its CLUB JT online shop: Cool Mint X-Strong, Sweet Mint Medium, and Sweet Mint Strong.

    Rich Melon Medium features a melon flavor and medium stimulation. Nordic Spirit pouches are manufactured in Sweden and are designed for oral use without combustion.

  • Nelt Group and PMI Renew Serbian Distribution Agreement

    Nelt Group and PMI Renew Serbian Distribution Agreement

    Nelt Group and Philip Morris International signed a new five-year distribution agreement for Serbia, extending a partnership that began in 2014. The agreement covers distribution operations in the Serbian market. Nenad Miščević, Nelt Group’s vice president for the Serbian market, said the renewed agreement continues the companies’ cooperation.

  • PMI Study Puts EU Economic Contribution at €343 Billion From 2021 to 2025

    PMI Study Puts EU Economic Contribution at €343 Billion From 2021 to 2025

    Philip Morris International (PMI) contributed nearly €343 billion to the European Union economy from 2021 through 2025, including €22.3 billion in spending with European suppliers, €27.4 billion invested across its European operations, and €39.5 billion in exports, according to an economic footprint study prepared by EY-Parthenon and released Oct. 15. The study also found that PMI’s European value chain supported nearly 164,000 jobs in 2025, including about 22,500 direct jobs, and that the company invested €422 million in research and development in Europe. PMI reported an additional approximately €2.2 billion in R&D activities in Switzerland.

    PMI said the figures reflect its manufacturing, supply-chain, research, and commercial activities across the region. The company reported that more than half of its net revenues in Europe came from smoke-free products in the fourth quarter of 2025. Since 2008, PMI has invested more than $16 billion globally in developing, scientifically assessing, and commercializing smoke-free products, including heated-tobacco devices, nicotine pouches, and e-vapor products.

    The report is the second edition of PMI’s EU Economic Footprint Study and covers the period from 2021 to 2025. PMI Europe President Marco Hannapel said the company’s investments and industrial operations contribute to the region’s economic activity and called for regulatory frameworks that support investment and innovation. The full EU Economic Footprint Study is available from PMI.

  • Japan Tobacco to Announce Third-Quarter Results Oct. 29

    Japan Tobacco to Announce Third-Quarter Results Oct. 29

    Japan Tobacco Inc. will announce its fiscal 2026 third-quarter financial results on Oct. 29 at 3:30 p.m. Japan time. The company will distribute results materials to the press by email and will not hold a press conference.

    JT will hold an investor briefing via Zoom from 5 to 6 p.m. Japan time on Oct. 29. Members of the press may attend but are asked not to speak during the question-and-answer session. Advance registration is required through the Zoom webinar registration page. An on-demand recording will be available through JT’s webcast page.

  • Altria to Report Third-Quarter Results Oct. 29

    Altria to Report Third-Quarter Results Oct. 29

    Altria Group will release its 2026 third-quarter and nine-month financial results at approximately 7 a.m. ET on Oct. 29, followed by a live audio webcast at 9 a.m. CEO Sal Mancuso and CFO Heather Newman will discuss the results and answer questions from investors and news media. The webcast requires advance registration and will be available in archived form afterward.

    The webcast and registration instructions are available at altria.com and www.altria.com/webcasts.

  • JT Group’s Habee App Wins 2026 Good Design Award

    JT Group’s Habee App Wins 2026 Good Design Award

    Japan Tobacco (JT) Group’s habit-building smartphone app Habee has received the 2026 Good Design Award from the Japan Institute of Design Promotion. The app is part of JT Group’s Momentia digital platform and is the second consecutive year a Momentia ID-compatible app has won the award, following the mental wellness app beSelf in 2025.

    Habee uses team-based challenges, daily progress tracking, photos, comments, and peer support to encourage users to develop habits and achieve goals. The award recognized its intuitive interface and design intended to help users maintain habits. JT Group said Momentia also includes digital services and online shopping, with a shared ID for eligible services. A registration campaign tied to the award is scheduled to run through Nov. 22.