Philip Morris results beat estimates on demand for heated tobacco sticks [Reuters]
Philip Morris International Inc (PM)
Last philip morris international inc earnings: 4/21 06:59 am
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Source: Reuters
April 23 (Reuters) - Philip Morris International (PM.N) New Tab , opens new tab on Tuesday surpassed market expectations for first-quarter profit and revenue, helped by robust demand for its heated tobacco product and Zyn nicotine pouches. The Marlboro maker's flagship heated tobacco device IQOS, expected to launch in the United States in the second quarter, has been a driving force behind its effort to make more money from alternatives to traditional cigarettes. Shipments of PMI's IQOS units grew by 20.9% to 33.1 billion in the first quarter, compared with a 6.1% rise in the preceding quarter. PMI had forecast first-quarter shipments of between 31 billion and 32 billion sticks. The company's first-quarter revenue of $8.79 billion beat market expectations of $8.47 billion, according to LSEG data. Demand for the IQOS device and associated tobacco sticks in major markets like Japan helped the company offset the impact of a ban on flavored heated tobacco products in the Europe
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PM
Earnings
- 4/23/24 - Beat
PM
Sec Filings
- 5/2/24 - Form 25-NSE
- 4/26/24 - Form 4
- 4/26/24 - Form 10-Q
- PM's page on the SEC website