{"id":46699,"date":"2024-10-24T17:18:45","date_gmt":"2024-10-24T09:18:45","guid":{"rendered":"https:\/\/www.abesmoke.com\/?p=46699"},"modified":"2024-10-24T17:18:45","modified_gmt":"2024-10-24T09:18:45","slug":"philip-morris-international-reports-2024-third-quarter-raises-2024-guidance-for-reported-diluted-eps-to-6-20-6-26-and-adjusted-diluted-eps-to-6-45-6-51","status":"publish","type":"post","link":"https:\/\/www.abesmoke.com\/en\/a\/46699","title":{"rendered":"Philip Morris International Reports 2024 Third-Quarter & First Nine-Months Results; Raises 2024 Guidance for Reported Diluted EPS to $6.20 - $6.26 and Adjusted Diluted EPS to $6.45 - $6.51"},"content":{"rendered":"

Third-Quarter Reported Diluted EPS grew 49.2% to\u00a0$1.97, Adjusted Diluted EPS increased by 14.4% to\u00a0$1.91\u00a0and grew by 18.0% excluding currency<\/strong><\/p>\n

STAMFORD, CT--(BUSINESS WIRE)--Oct. 22, 2024--\u00a0Regulatory News:<\/p>\n

Philip Morris International Inc.\u00a0(PMI) (NYSE: PM) today announces its 2024 third-quarter and first nine-months results.1<\/sup><\/p>\n

\u201cIn the third quarter, we delivered exceptionally strong performance, with record quarterly net revenues and earnings per share,\u201d\u00a0<\/em>said\u00a0Jacek Olczak, Chief Executive Officer.
\n\u201cThis reflects excellent momentum across all regions and categories, with a reacceleration in IQOS adjusted in-market sales growth, strong ZYN volumes, and resilient combustible performance.\u201d\u00a0<\/em>
\n\u201cAs a result of our strong year-to-date delivery, we are raising our full-year growth outlook for adjusted diluted EPS to a range of 14% to 15%, excluding currency.\u201d<\/em><\/p>\n\n\n\n
\n

Third Quarter Highlights<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    \n
  • Smoke-free business (SFB):<\/strong>\u00a0Quarterly shipments of smoke-free products (SFP), available in 92 markets, reached close to 40 billion units. The smoke-free business accounted for 38% of our total net revenues and 40% of gross profit (up by 1.9pp and 2.2pp respectively, versus third-quarter last year), and continues to deliver superior performance, with net revenues increasing by 14.2% (16.8% organically) and gross profit increasing by 15.9% (20.2% organically).<\/li>\n
  • Inhalable smoke-free products:<\/strong>\u00a0IQOS<\/em>\u00a0continues strengthening its overall position as the second largest nicotine \u2018brand\u2019 in markets where present (gaining 1.0pp of combined cigarette and HTU industry volumes) and driving the growth of the heat-not-burn category (reaching nearly 77% of global category volumes). HTU adjusted in-market sales (IMS) volume, which excludes the net impact of estimated distributor and wholesaler inventory movements, was up by an estimated 14.8%.\n
      \n
    • In\u00a0Japan,\u00a0ILUMA i<\/em>\u00a0fueled the growth of\u00a0IQOS,<\/em>\u00a0with adjusted IMS up by 14.3%, the 8th<\/sup>\u00a0consecutive quarter of double-digit growth.\u00a0IQOS\u00a0<\/em>HTU adjusted market share increased by 3.2pp to nearly 30%, driving the overall category to at least 50% of total nicotine offtake share in 8 major cites, including\u00a0Tokyo\u00a0and\u00a0Yokohama.<\/li>\n
    • In\u00a0Europe,\u00a0IQOS<\/em>\u00a0HTU adjusted market share increased by 0.8pp to 9.5%. Adjusted IMS growth reaccelerated to 11.3%, with\u00a0Italy\u00a0recovering well and 8 markets growing in excess of 20%, including\u00a0Greece\u00a0and\u00a0Germany. Our portfolio of\u00a0IQOS<\/em>\u00a0consumables continues to expand with both\u00a0DELIA\u00a0<\/em>and\u00a0LEVIA\u00a0<\/em>now being available in 9 markets each, with further launches planned in Q4.<\/li>\n
    • Outside\u00a0Europe\u00a0and\u00a0Japan, adjusted IMS growth accelerated and we grew offtake share in key cities across the globe, including\u00a0Seoul,\u00a0Toronto,\u00a0Mexico City,\u00a0Cairo, and\u00a0Jakarta. Our strong growth in\u00a0Indonesia\u00a0benefits from the expansion of our geographic reach and consumables portfolio, with premium clove and capsule products.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n

      In the vaping category, our focused strategy is delivering good results with excellent volume momentum and unit cost improvements.\u00a0Europe\u00a0is at the forefront, as the closed pod segment continues to take share from disposables.\u00a0VEEV\u00a0<\/em>continues to lead the closed pod segment in several markets, including\u00a0Italy,\u00a0Romania, and the\u00a0Czech Republic.<\/p>\n

        \n
      • Oral SFP2<\/sup>:\u00a0<\/strong>Shipment volume increased by 24.7% in cans (22.2% in pouches or pouch equivalents), fueled by\u00a0ZYN<\/em>\u00a0nicotine pouch growth in the\u00a0U.S., where shipments reached 149.1 million cans, representing growth of 41.4% versus prior year as supply constraints start to ease. Outside the\u00a0U.S., our nicotine pouch volume in cans grew by nearly 70%, with notable contributions from\u00a0Pakistan\u00a0and\u00a0South Africa. The number of markets with\u00a0ZYN<\/em>\u00a0presence increased to 30, including recent launches in\u00a0Greece\u00a0and\u00a0Czech Republic.<\/li>\n
      • Combustibles:<\/strong>\u00a0Net revenues grew by 5.2% (8.6% organically), driven by another quarter of high single-digit pricing and resilient industry volumes. Both our global brands portfolio and\u00a0Marlboro<\/em>\u00a0achieved their highest quarterly market shares since the 2008 spin-off.<\/li>\n
      • Dividend:\u00a0<\/strong>Increased regular quarterly dividend by 3.8% to\u00a0$1.35\u00a0per share, or an annualized\u00a0$5.40\u00a0per share.<\/li>\n<\/ul>\n

        Source\uff1ahttps:\/\/www.pmi.com\/media-center\/press-releases\/press-details\/?newsId=28126<\/p>","protected":false},"excerpt":{"rendered":"

        Third-Quarter Reported Diluted EPS grew 49.2% to\u00a0$1.97, Adjusted Diluted EPS increased by 14.4% to\u00a0$1.91\u00a0and grew by 18.0% excluding currency STAMFORD, CT--(BUSINESS WIRE)--Oct. 22, 2024--\u00a0Re …<\/p>","protected":false},"author":2,"featured_media":46700,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-46699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/www.abesmoke.com\/en\/wp-json\/wp\/v2\/posts\/46699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.abesmoke.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.abesmoke.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.abesmoke.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.abesmoke.com\/en\/wp-json\/wp\/v2\/comments?post=46699"}],"version-history":[{"count":0,"href":"https:\/\/www.abesmoke.com\/en\/wp-json\/wp\/v2\/posts\/46699\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.abesmoke.com\/en\/wp-json\/wp\/v2\/media\/46700"}],"wp:attachment":[{"href":"https:\/\/www.abesmoke.com\/en\/wp-json\/wp\/v2\/media?parent=46699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.abesmoke.com\/en\/wp-json\/wp\/v2\/categories?post=46699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.abesmoke.com\/en\/wp-json\/wp\/v2\/tags?post=46699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}