Future

2024

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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">Philip Morris International Inc. (NYSE: PM) has released its earnings for the <a href="https://www.pmi.com/investor-relations/reports-filings" target="_blank" aria-label="fourth quarter of 2023 (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">fourth quarter of 2023</a>, revealing significant insights into its performance and strategic directions.</p>
<p>The fourth quarter saw Philip Morris International continue its robust performance, with notable growth in smoke-free products, now representing a significant portion of its net revenues. Smoke-free products accounted for 39.3% of total net revenues, a testament to PMI’s strategic pivot towards reduced-risk products and its commitment to a smoke-free future. This shift is further highlighted by the adjusted in-market sales volume for heated tobacco units (HTUs), which saw an estimated increase of 13.9%, marking a pivotal shift in consumer preferences towards smoke-free alternatives​​.</p>
<h3 id="pm-misses-eps-expectations-in-q4-revenue-in-line">PM Misses EPS Expectations in Q4, Revenue in Line</h3>
<p>When comparing the actual performance to the expectations set for the quarter, PMI showcased a strong alignment with its forecasts. The company reported net revenues of $9.0 billion, closely aligning with the expected revenue of $9.01 billion. The earnings per share (<a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">EPS</a>) of $1.41 slightly missed the anticipated $1.45, reflecting the dynamic challenges in the global market yet underscoring PMI’s resilience and strategic execution in navigating these complexities​​.</p>
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<h3 id="guidance-for-the-future">Guidance for the Future</h3>
<p>Looking ahead, PMI has provided an optimistic outlook for 2024, forecasting a reported diluted EPS in the range of $5.90 to $6.02, compared to $5.02 in 2023. This forecast represents a projected increase of 7.0% to 9.0% versus the adjusted diluted EPS of $6.01 in 2023, excluding a total 2024 adjustment of $0.42 per share and an adverse currency impact of $0.11. This guidance reflects PMI’s confidence in its strategic initiatives, particularly its emphasis on accelerating the growth of smoke-free net revenues and operational efficiencies​​.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/philip-morris-pm-nears-smoke-free-milestone-with-39-3-revenue-from-innovative-products/">Philip Morris (PM) Nears Smoke-Free Milestone with 39.3% Revenue from Innovative Products</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Philip Morris (PM) Nears Smoke-Free Milestone with 39.3% Revenue from Innovative Products

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