Philip Morris International Inc.
Philip Morris International Reports First-Quarter 2024 Results and Updates Full-Year Guidance
Summary
Philip Morris International Inc. (PMI) announced its financial results for the first quarter of 2024, reporting a 7.8% increase in reported diluted EPS to $1.38 and an 8.7% increase in adjusted diluted EPS to $1.50. The company also raised its full-year 2024 currency-neutral guidance. PMI's smoke-free business saw significant growth, with net revenues increasing by 21.1% and gross profit by 31.8%. Key highlights include a 12.5% increase in adjusted in-market sales for heated tobacco units (HTUs) and a 79.7% growth in shipment volume for ZYN nicotine pouches in the U.S.
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About Philip Morris International Inc.
Philip Morris International Inc. is a leading global tobacco company primarily engaged in the manufacture and sale of cigarettes and other nicotine-containing products. Known for owning some of the world's best-selling cigarette brands like Marlboro, Philip Morris International plays a significant role in the consumer goods sector. The company's strategic focus includes developing smoke-free alternatives such as heated tobacco systems and e-cigarettes, addressing shifting consumer preferences and regulatory landscapes. Headquartered in New York City, Philip Morris operates in over 180 countries, showcasing a robust international presence. The firm is noteworthy for its commitment to transforming public health narratives within the tobacco industry by advocating for reduced-risk products. As part of its market significance, Philip Morris International drives innovation in tobacco products, influencing regulatory frameworks and competitive dynamics in the global market.
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