PMI said on its latest earnings call that Japan’s tax cycle will weigh on 2026 performance, while smoke-free growth is expected to re-accelerate thereafter. The discussion also covered U.S. regulation, ZYN strategy and AI-driven efficiency.

Philip Morris International reported full-year 2025 results on February 6, with smoke-free products accounting for 41.5% of adjusted net revenues, up from 38.7% a year earlier. Total net revenues rose 7.3% to $40.65 billion, while shipment volumes increased 1.4%, widening the gap between revenue and volume growth. Cigarette shipments declined as smoke-free volumes rose 12.8%, driven by heated tobacco, oral nicotine and e-vapor products. Results were released alongside a 9:00 a.m. EST webcast.

Ispire reported a sharp year-on-year revenue decline in Q2 FY2026 as it shifted away from lower-quality customers, while cutting operating expenses and narrowing its net loss. The company also highlighted improved collections, with net accounts receivable down nearly one-fifth since June 30, 2025, alongside ongoing manufacturing and technology initiatives.

Philip Morris International (PMI) released its Q4 and full-year 2025 results on February 6, 2026. PMI reported full-year net revenues of $40,648 million ($40.6 billion), reported diluted EPS of $7.26 and adjusted diluted EPS of $7.54. PMI said smoke-free net revenues were $16.9 billion and represented 41.5% of total net revenues, with smoke-free products available in 106 markets and over 43 million estimated adult consumers.

Kumulus Vape has launched Labster, a 700 sq m production unit in the Lyon Metropolis near the group’s headquarters, for e-liquids and DIY concentrates. The site is equipped with automated lines supplied by CDA (Constructions d’Automatismes) to carry out bottling and labeling. Its theoretical capacity is described as several million bottles per year in 10–100 ml formats, and it is already operational.