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  • PMI Surpasses Estimates for Fourth Straight Quarter

    PMI Surpasses Estimates for Fourth Straight Quarter

    Today (April 23), Philip Morris International announced first-quarter earnings of $1.69 per share, beating the Zacks Consensus Estimate of $1.61 per share. This is a 12.7% increase, and compares to earnings of $1.50 per share a year ago. These figures are adjusted for non-recurring items, and mark the fourth straight quarter the company has surpassed consensus EPS estimates.

    PMI posted revenue of $9.3 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 3.97%.

    “We achieved exceptionally strong performance in the first quarter, with continued volume growth supporting an excellent top-line performance and very strong margin expansion,” said Jacek Olczak, Chief Executive Officer. “Our smoke-free business goes from strength to strength, delivering organic growth of over 20% in net revenues and over 33% in gross profit.

    “We remain confident in our ability to deliver superior results, despite an uncertain and volatile global economic environment, and now forecast double-digit adjusted diluted EPS growth in dollar terms for the full year.”

    PMI’s smoke-free business saw a 14.4% increase in shipment volumes, and now accounts for 42% of its total net revenues and 44% of its total gross profit.

  • IQOS and SELETTI Create “Sensorium” for Milan Design Week

    IQOS and SELETTI Create “Sensorium” for Milan Design Week

    Philip Morris International collaborated with renowned design brand SELETTI to create a virtual, multisensory space where people can meet, converse, and connect as part of Milan Design Week in Italy. The project is titled “Curious X: Sensorium Piazza,” and “bridges the physical and digital worlds, creating an unexpected dimension where art and technology intertwine to create meaningful and extraordinary interactions,” all centered around the traditional Italian piazza. The exhibit will be available at Opificio 31, inside Tortona Rocks from April 7 to 13 2025.

    “Our collaboration with SELETTI is driven by the shared belief that curiosity paves the way to groundbreaking creativity which inspires us to connect, explore new possibilities beyond the limits and challenge the status quo,” said Stefano Volpetti, PMI’s President of Smoke-Free Products & Chief Consumer Officer. “Being forever curious at IQOS is what ultimately enables our quest for the continuous development of better smoke-free alternatives versus smoking,”

    The project also marks the debut of the new experiential platform IQOS Curious X, intended to deliver inspiring experiences to the brand’s ever-growing community of adult consumers. “Curiosity—the engine of creativity and innovation—is at the heart of the journey experienced by the over 32 million users of IQOS globally,” the company said. “Curiosity is at the core of IQOS’ quest to continuously innovate for the better, and this will be brought to life through a yearlong collaboration with SELETTI.”

    Through a multi-platform installation, featuring dynamic technologies and an ever-changing digital canvas molded by real-life interactions, the piazza will transform itself from day to night into an archive of human connections, processing the memories, voices, and figures of those who pass through the exhibit. Paying homage to the bold contrasts and pop reinterpretations typical of SELETTI’s work while at the same time experimenting with innovative codes, Sensorium Piazza transforms each guest from spectator to main character.

  • PMI Outlines Smoke-Free Progress in Annual Report

    PMI Outlines Smoke-Free Progress in Annual Report

    Philip Morris International today (April 3) published its sixth annual Integrated Report, marking the company’s 10th year of business transformation and sustainability disclosures. The document details PMI’s continued progress in delivering long-term value to shareholders and other stakeholders while advancing its purpose of having its smoke-free alternatives make cigarettes obsolete as soon as possible.

    “Our 2024 Integrated Report celebrates a milestone year that marked the 10thanniversary of the commercialization of IQOS, VEEV, and ZYN and our journey toward achieving one of the most ambitious business transformations in modern history,” said Jacek Olczak, Chief Executive Officer of PMI. “By the end of 2024, our efforts to expand access to smoke-free products allowed us to reach an estimated 38.6 million adult users, with the products available in 95 markets, demonstrating our deep commitment to sustainability and business transformation. These achievements fill me with profound optimism as we continue to create long-term value while addressing our product and operational impacts, not only sustaining but accelerating our momentum, accomplishing a number of goals that only a few years ago seemed too ambitious.”

    The report describes the company’s strategy, business model, and both product-related and operational-related performances. The report explains the company’s performance and approach to sustainability in the context of a comprehensive five-pillar framework that includes compliance and risk mitigation as well as operational efficiency, innovation, and purposeful impact

    “The path to transformation is rarely linear, and our experience in 2024 reinforces a crucial truth: Achieving a smoke-free future requires collective effort beyond our direct control,” said Emmanuel Babeau, Chief Financial Officer of PMI. “Our smoke-free business accounted for approximately 39% of PMI’s total net revenues for the full year 2024, with an acceleration in top- and bottom-line growth. Competing in the cigarette market while simultaneously working to transform it is not a contradiction but a necessary phase in our journey. Our integrated approach—linking financial success with positive impact—positions us well to continue investing in the future. We remain confident that our financial strength, combined with our sustainability leadership, is the right path forward.”

    Performance Highlights:

    • Six markets where more than 75% of net revenues are generated are smoke-free
    • $14 billion cumulative investment behind smoke-free products since 2008
    • 99% of total shipment volume covered by youth access prevention programs in indirect retail channels
    • 0.01% prevalence of child labor among contracted farmers supplying tobacco to PMI
    • 10 human rights impact assessments completed since 2018 in highest-risk countries
    • 61% of PMI manufacturing facilities certified as carbon neutral
  • PMI Earns Real Estate Award for Colorado Zyn Project

    PMI Earns Real Estate Award for Colorado Zyn Project

    Philip Morris International’s (PMI) purchase and planned development of 150 acres of land in Aurora, Colorado, in July 2024 earned a 2025 CoStar Impact Award, as judged by real estate professionals familiar with the market. According to the seller, Opus Development Co., the site acquisition by PMI’s United States-based affiliate, Kairus, Inc., was one of the largest direct land sales to a user and set a record price per square foot based on land area. PMI plans to invest $600 million into building a manufacturing hub for Zyn nicotine pouches.

    “PMI and its U.S. affiliates are accelerating their mission to move adults who smoke away from cigarettes by investing in new manufacturing capacity to meet the increasing demand for nicotine options that are scientifically substantiated as better alternatives,” PMI Americas President and U.S. CEO Stacey Kennedy said in a statement unveiling the company’s development plans. “We believe Colorado is like-minded in its commitment to innovation, economic opportunity and public health, and we’re eager to work with the state and its talented workforce as we expand our U.S. manufacturing presence.”

    The project is expected to generate more than $1 billion in economic contributions for the Denver-area suburb by the time it is fully operational in 2026, and will host at least 500 full-time employees, and generate upward of $550 million annually in economic benefits statewide.

  • PMI Launches IQOS in Texas

    PMI Launches IQOS in Texas

    Philip Morris International began selling its IQOS heated tobacco device in Austin, Texas, today (March 27), an executive told Reuters, kicking off efforts to build a market for the world’s top-selling heated tobacco device in the United States.

    PMI said that after a successful pilot program, it was offering IQOS to smoking-age Austin residents and would host demonstrations and guided trials for adults to showcase the product. The device is being offered for $60 with the accompanying tobacco sticks available for $8, said Francisca Rahardja, vice president and chief marketing officer of inhalables at PMI U.S.

    Rahardja said PMI was offering IQOS at a lower price versus some other markets in part to reflect the fact it was trying to build up appetite among new consumers. PMI hopes to capture a 10% share of U.S. tobacco and heated tobacco unit volume by 2030 and build a substantial base of new users in the world’s top market for smoking alternatives.

    PMI previously said it would launch IQOS in four cities in two U.S. states, but so far only the Austin launch has been announced. It is pursuing a limited U.S. roll-out of an older version of the IQOS device while waiting for authorization from the FDA to sell the latest iteration, dubbed ILUMA, in the country.

  • PM Switzerland Partners to Enhance Visual Merchandising

    PM Switzerland Partners to Enhance Visual Merchandising

    Philip Morris Switzerland, the Swiss affiliate of Philip Morris International, has partnered with LEAFIO AI to enhance its visual merchandising through the implementation of the LEAFIO Shelf Efficiency solution. The collaboration aims to optimize planogram creation, ensuring improved product placement efficiency, and a seamless shopping experience for retailers and consumers alike.

    “At LEAFIO AI, we are committed to empowering CPG manufacturers with cutting-edge technology,” said Andrew Max, CCO of LEAFIO AI. “Our advanced data-driven solutions improve shelf layouts based on deep analytics and worldwide experience; it will support Philip Morris Switzerland’s diverse retail footprint and enhance operational efficiency by reducing manual efforts and enabling quicker decision-making.”

    According to LEAFIO, the company is going to help Philip Morris Switzerland:

    • Streamline planogram creation and optimization to enhance product placement strategies
    • Automate and standardize visual merchandising for improved consistency across

    retail locations

    • Leverage data-driven insights to ensure data-backed decisions that maximize shelf

    performance

    • Enhance collaboration between manufacturers and retail partners by aligning

    planograms with sales and demand trends

  • Canadian Tobacco Settlement a Step Closer to Complete

    Canadian Tobacco Settlement a Step Closer to Complete

    After years of mediation to resolve long-pending tobacco product-related litigation in Canada, the court-appointed Mediator’s and Monitor’s Plan of Compromise and Arrangement was today (March 7) sanctioned by the Ontario Superior Court of Justice in the ongoing proceedings under the Companies’ Creditors Arrangement Act (CCAA). The sanctioning was a significant step in finalizing the $22.7 billion settlement agreement with Imperial Tobacco Canada (a BAT subsidiary), JTI-Macdonald Corp., and Rothmans, Benson & Hedges (a PMI subsidiary). The settlement has been in negotiations since March 2019.

    Following a judicial hearing on the proposed plan, the three companies reached a consensual resolution of all outstanding objections to it. The plan will resolve all Canadian tobacco litigation and provide a full and comprehensive release to the companies.

    “We are pleased that the Court has sanctioned the Mediator’s and Monitor’s Plan of Compromise and Arrangement, a critical milestone in the CCAA process, Imperial Tobacco Canada wrote in a statement. “We look forward to the successful implementation of this plan, which maximizes value for claimants, resolves outstanding tobacco litigation, and allows us to emerge from CCAA protection. While there are still some steps that must be taken to implement the settlement, Imperial Tobacco Canada is committed to continue working with the relevant parties to complete this process as quickly as possible for the benefit of all stakeholders.”

  • PMI Retains European Vape Patent

    PMI Retains European Vape Patent

    European patent officials tossed a challenge from a British American Tobacco subsidiary allowing Philip Morris to retain its patent for a type of power supply for electronic vapes.

    The patent from PMI primarily describes a power supply system for an e-vaping device, including a sensor and a sensor holder designed to regulate airflow and house a power source. Nicoventures claimed the patent was not new because it used similar features in three older patents for its “Vuse Solo.” The BAT side argued that there were several features in the older patents that effectively served as sensor holders similar to the PMI design.

    In a Feb. 20 decision that was published yesterday (March 5), the appellate board at the European Patent Office upheld an earlier decision dismissing Nicoventures’ opposition because Philip Morris’ power supply design contains a unique structure.

    “The board concurs with the respondent’s arguments [that] the structure of the e-vaping device in [the older inventions] and the patent are not identical,” the Technical Board of Appeal said.

    PMI further argued that Nicoventures failed to prove that Vuse Solo “was available to the public before it filed its own patent application, therefore Nicoventures cannot argue that its design is not new,” Law360 wrote.

  • PMI Declares Quarterly Dividend of $1.35 Per Share

    PMI Declares Quarterly Dividend of $1.35 Per Share

    The Board of Directors of Philip Morris International Inc. today (March 6) declared a regular quarterly dividend of $1.35 per common share, payable on April 10, 2025, to shareholders of record as of March 20, 2025. The ex-dividend date is March 20, 2025. For more details on stock, dividends and other information, see www.pmi.com/dividend.

  • Pakistani Tobacco Growers Told to Avoid Surplus

    Pakistani Tobacco Growers Told to Avoid Surplus

    As purchasing companies in Pakistan have slashed their quotas for the year, officials from those companies are advising farmers against growing surplus tobacco. Those officials said that the growers had again reverted to growing tobacco after they were unable to cover the costs incurred on wheat production as official wheat rates were slashed drastically.

    Pakistan Tobacco Company, Philip Morris International, and a few national tobacco-purchasing companies were executing agreements with the growers, however, sources said small cigarette manufacturers avoid those agreements and wait to exploit the growers with leftover tobacco.