Exclusive: Philip Morris nears Texas launch of flagship heated tobacco device [Reuters]
Altria Group, Inc. (MO)
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Source: Reuters
Austin, Texas, indicating it will be the first testing ground for its U.S. entry, job adverts on LinkedIn show. IQOS, the top selling heated tobacco device globally, sits at the core of the world's biggest tobacco company's efforts to transform its image from a purveyor of cigarettes to a driving force behind the switch to healthier options. Investors are waiting to see if Philip Morris (PMI) can create a market for heated tobacco in the United States, where vaping currently dominates. The country offers PMI a substantial base of new users and, potentially, a hefty new income stream that could prove transformative as it tries to generate an increasing proportion of revenue from products other than cigarettes. PMI spent the vast majority of $10.7 billion of expenditure on smoking alternatives between 2008 and 2022 on IQOS' development. The Marlboro maker had said it planned to launch the device in four cities in two U.S. states starting with one city in the second quarter, ah
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News
- US Reverses on Plan to Ban Menthol Cigarettes, WSJ Reports [BNN Bloomberg (Canada)]BNN Bloomberg
- Altria's (MO) Q1 Earnings Miss Estimates, Revenues Decline Y/Y [Yahoo! Finance]Yahoo! Finance
- Global Smokeless Tobacco Market Report 2024-2032 Featuring Altria, British American Tobacco, DS Group, Imperial Brands, Japan Tobacco, Mac Baren Tobacco Co, Swedish Match, & Swisher [Yahoo! Finance]Yahoo! Finance
- Altria Group (MO) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Stocks open lower on US GDP print, tech earnings [Yahoo! Finance]Yahoo! Finance
MO
Earnings
- 4/25/24 - In-Line
MO
Sec Filings
- 4/25/24 - Form 10-Q
- 4/25/24 - Form 8-K
- 4/23/24 - Form PX14A6G
- MO's page on the SEC website