Philip Morris Hits Record High on Q3 Earnings Beat: ETFs in Focus
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 25 2024
0mins
Source: NASDAQ.COM
Strong Financial Performance: Philip Morris International reported a significant recovery in 2024, with a 44% stock surge and robust third-quarter results, including adjusted EPS of $1.91 and net revenues of $9.9 billion, surpassing estimates due to increased demand for smoke-free products.
Future Growth Projections: The company anticipates adjusted EPS growth of 7.3-8.3% for 2024, alongside an expected increase in net revenues and operating income, driven by its focus on smoke-free alternatives like IQOS and ZYN nicotine pouches.
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Analyst Views on PM
Wall Street analysts forecast PM stock price to rise
11 Analyst Rating
8 Buy
3 Hold
0 Sell
Moderate Buy
Current: 165.340
Low
175.00
Averages
191.95
High
210.00
Current: 165.340
Low
175.00
Averages
191.95
High
210.00
About PM
Philip Morris International Inc. is an international tobacco company. The Company’s product portfolio primarily consists of cigarettes and smoke-free products. Its smoke-free business (SFB) also includes wellness and healthcare products, as well as consumer accessories, such as lighters and matches. The Company’s segments include Europe Region; South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA); East Asia, Australia & PMI Global Travel Retail (EA, AU & PMI GTR), and Americas Region. The Company's brands include Marlboro, HEETS, IQOS, IQOS ILUMA, TEREA, VEEV and ZYN. Its IQOS smoke-free product brand portfolio includes heated tobacco and nicotine-containing vapor products. Its international cigarette brands are Chesterfield, L&M, and Philip Morris. It also owns a number of local cigarette brands, such as Dji Sam Soe and Sampoerna A in Indonesia, and Fortune and Jackpot in the Philippines.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
PMI's Global Innovation Platform Debuts in the U.S.
- U.S. Debut: PMI's global science and innovation platform, Technovation, will debut in the U.S. on April 14, 2026, bringing together experts, policymakers, and business leaders to accelerate the transition to a smoke-free future, marking a significant strategic move for the company in the U.S. market.
- Investment and Expansion: PMI has invested over $16 billion in the U.S. for the development and commercialization of smoke-free products, with over 43 million legal-age consumers currently using its products, demonstrating the company's strong market influence in promoting smoke-free alternatives.
- Market Leadership: PMI's ZYN product is the first nicotine pouch authorized by the FDA in the U.S., establishing itself as a leader in the smoke-free product market, driving changes in consumer behavior, and fostering a responsible brand image in a highly regulated market.
- Scientific and Technological Advancements: The Technovation event will showcase PMI's scientific progress in smoke-free products, emphasizing collaboration with law enforcement to combat illicit trade, further solidifying the company's leadership position in the industry.
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- Aemetis Impact: Aemetis saw a decline of approximately 7.8% in its stock price, further exacerbating the overall downward trend in the sector, which may lead to decreased investor confidence in the company.
- Uncertain Industry Outlook: With overall market sentiment low, the future performance of the oil and gas refining and marketing sector faces uncertainty, potentially impacting the financing and expansion plans of related companies.
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- Cybersecurity Incident Impact: Hasbro's shares fell over 4% due to a cybersecurity incident involving unauthorized network access, with the company investigating the full impact and implementing protective measures, potentially increasing operational costs in the short term.
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- Resistance to Approval: The FDA's fast-track nicotine pouch approval plan is facing resistance from regulators and external critics due to insufficient scientific evidence, particularly concerns about addiction risks among youth, complicating the advancement of the initiative.
- Unclear Scientific Evidence: Although the FDA launched the pilot under pressure, it has not fully resolved the evidence balance between public health benefits for adult smokers and youth addiction risks, resulting in a slow approval process.
- Market Growth Potential: Nicotine pouches represent the fastest-growing tobacco category in the U.S., driving companies to seek quicker authorizations; however, advocacy groups warn that easier access could increase nicotine use among teenagers.
- Industry Participants: The FDA pilot aims to fast-track products from multiple companies, including Philip Morris, Altria, British American Tobacco's Reynolds American, and Turning Point Brands, highlighting the industry's urgent demand for rapid market access.
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- Dividend Growth Record: With a current dividend yield of 2.94%, Procter & Gamble has increased its payout for 69 consecutive years, demonstrating reliability and sustainability in long-term returns, appealing to stability-focused shareholders.
- Philip Morris International Overview: With a market cap of $257 billion, Philip Morris International has seen an 83% stock price increase over the past five years, and its diversified global operations mitigate risks from market fluctuations, enhancing the company's resilience.
- Innovation and Acquisition Strategy: By acquiring Swedish Match, Philip Morris International gained access to the leading oral tobacco product Zyn and is transitioning towards lower-harm products, with a dividend yield of 3.55% and a 17-year streak of payout increases, indicating strong potential for innovation-driven growth.
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Philip Morris International Releases Value Report 2025 Highlighting Strategic Shift
- Transformation Progress: Philip Morris International (PM) emphasizes in its Value Report 2025 that its transformation extends beyond product innovation to capital allocation and stakeholder engagement, showcasing a comprehensive strategy for sustainable growth.
- Smoke-Free Product Sales: As of the end of 2025, PM's smoke-free products are sold in 106 markets and used by approximately 43.5 million adult consumers, indicating a significant increase in global market penetration that drives revenue growth.
- Revenue Contribution: PM's smoke-free products generated $16.9 billion in revenue last year, accounting for 41.5% of total annual revenue, reflecting the success of the company's transformation and laying a foundation for future sustainable development.
- Future Strategy: The company's Value Plan 2030+ focuses on six priorities, including consumer health, circularity, and climate change, aiming to align sustainability with business performance to enhance long-term resilience and market competitiveness.
See More
PMI's Global Innovation Platform Debuts in the U.S.
- U.S. Debut: PMI's global science and innovation platform, Technovation, will debut in the U.S. on April 14, 2026, bringing together experts, policymakers, and business leaders to accelerate the transition to a smoke-free future, marking a significant strategic move for the company in the U.S. market.
- Investment and Expansion: PMI has invested over $16 billion in the U.S. for the development and commercialization of smoke-free products, with over 43 million legal-age consumers currently using its products, demonstrating the company's strong market influence in promoting smoke-free alternatives.
- Market Leadership: PMI's ZYN product is the first nicotine pouch authorized by the FDA in the U.S., establishing itself as a leader in the smoke-free product market, driving changes in consumer behavior, and fostering a responsible brand image in a highly regulated market.
- Scientific and Technological Advancements: The Technovation event will showcase PMI's scientific progress in smoke-free products, emphasizing collaboration with law enforcement to combat illicit trade, further solidifying the company's leadership position in the industry.
See More
Oil & Gas Refining and Marketing Stocks Decline
- Market Underperformance: On Wednesday, oil and gas refining and marketing stocks collectively fell by approximately 3.6%, indicating the pressure the sector is under amid increasing market volatility.
- Stock Drag: Gevo's share price dropped by about 10.8%, making it the worst performer in the industry, reflecting investor concerns regarding its future profitability.
- Aemetis Impact: Aemetis saw a decline of approximately 7.8% in its stock price, further exacerbating the overall downward trend in the sector, which may lead to decreased investor confidence in the company.
- Uncertain Industry Outlook: With overall market sentiment low, the future performance of the oil and gas refining and marketing sector faces uncertainty, potentially impacting the financing and expansion plans of related companies.
See More
Eli Lilly Gains FDA Approval, Shares Rise
- FDA Drug Approval: Eli Lilly's once-daily GLP-1 pill Foundayo received FDA approval, leading to a 4% rise in shares, which will enhance the company's competitive edge in the obesity treatment market and drive future sales growth.
- Cybersecurity Incident Impact: Hasbro's shares fell over 4% due to a cybersecurity incident involving unauthorized network access, with the company investigating the full impact and implementing protective measures, potentially increasing operational costs in the short term.
- Tobacco Product Delay: Philip Morris International's shares dropped more than 5% after the FDA delayed authorization for nicotine pouch sales, which may hinder the company's future market expansion plans, particularly among new user demographics.
- Semiconductor Buyback Plan: Intel announced a $14.2 billion buyback of a 49% stake in its Ireland Fab 34 joint venture, resulting in a 9% increase in shares, with funding sourced from cash on hand and approximately $6.5 billion in new debt, expected to strengthen its position in the global semiconductor market.
See More
FDA's Fast-Track Nicotine Pouch Approval Faces Resistance
- Resistance to Approval: The FDA's fast-track nicotine pouch approval plan is facing resistance from regulators and external critics due to insufficient scientific evidence, particularly concerns about addiction risks among youth, complicating the advancement of the initiative.
- Unclear Scientific Evidence: Although the FDA launched the pilot under pressure, it has not fully resolved the evidence balance between public health benefits for adult smokers and youth addiction risks, resulting in a slow approval process.
- Market Growth Potential: Nicotine pouches represent the fastest-growing tobacco category in the U.S., driving companies to seek quicker authorizations; however, advocacy groups warn that easier access could increase nicotine use among teenagers.
- Industry Participants: The FDA pilot aims to fast-track products from multiple companies, including Philip Morris, Altria, British American Tobacco's Reynolds American, and Turning Point Brands, highlighting the industry's urgent demand for rapid market access.
See More
The Advantages of Investing in Stable Blue-Chip Stocks
- Procter & Gamble Overview: Founded in 1837, Procter & Gamble boasts a market cap of $335 billion, showcasing strong profitability and a market-leading dividend through products like Tide and Gillette, making it ideal for investors seeking stable returns.
- Dividend Growth Record: With a current dividend yield of 2.94%, Procter & Gamble has increased its payout for 69 consecutive years, demonstrating reliability and sustainability in long-term returns, appealing to stability-focused shareholders.
- Philip Morris International Overview: With a market cap of $257 billion, Philip Morris International has seen an 83% stock price increase over the past five years, and its diversified global operations mitigate risks from market fluctuations, enhancing the company's resilience.
- Innovation and Acquisition Strategy: By acquiring Swedish Match, Philip Morris International gained access to the leading oral tobacco product Zyn and is transitioning towards lower-harm products, with a dividend yield of 3.55% and a 17-year streak of payout increases, indicating strong potential for innovation-driven growth.
See More
Philip Morris International Releases Value Report 2025 Highlighting Strategic Shift
- Transformation Progress: Philip Morris International (PM) emphasizes in its Value Report 2025 that its transformation extends beyond product innovation to capital allocation and stakeholder engagement, showcasing a comprehensive strategy for sustainable growth.
- Smoke-Free Product Sales: As of the end of 2025, PM's smoke-free products are sold in 106 markets and used by approximately 43.5 million adult consumers, indicating a significant increase in global market penetration that drives revenue growth.
- Revenue Contribution: PM's smoke-free products generated $16.9 billion in revenue last year, accounting for 41.5% of total annual revenue, reflecting the success of the company's transformation and laying a foundation for future sustainable development.
- Future Strategy: The company's Value Plan 2030+ focuses on six priorities, including consumer health, circularity, and climate change, aiming to align sustainability with business performance to enhance long-term resilience and market competitiveness.
See More
