Philip Morris International ( (PM) ) has released its Q4 earnings. Here is a breakdown of the information Philip Morris International presented to its investors.
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Philip Morris International (PMI) is a leading global tobacco company focused on reducing cigarette sales and transitioning to smoke-free products, with a strong emphasis on research and development to support this transformation. In its latest earnings report, PMI announced a significant increase in its adjusted diluted earnings per share to $6.57 for 2024, despite a non-cash impairment charge related to its Canadian affiliate. The company highlighted the FDA authorization of its ZYN nicotine pouches in the U.S. and continued growth in its smoke-free product lines, including IQOS and ZYN, which contributed to a 14.2% net revenue increase in the smoke-free segment. PMI’s smoke-free business now represents 40% of total net revenues, with over 38.6 million users worldwide. Looking ahead, PMI remains positive about its smoke-free transition, expecting continued growth in its smoke-free products and aiming to deliver strong shareholder value in 2025 and beyond.