PMI Q3: Smokeless products account for 38% of net sales, says The Times

Oct.28.2024

PMI's third-quarter financial report revealed $9.91 billion in revenue, up 8.4% year-on-year, with smoke-free products driving growth.

On October 27th, 2Firsts noticed that the British newspaper "The Times" published an advertisement for the third quarter financial report of Philip Morris International (PMI).

Previously, PMI released its financial report for the third quarter of 2024 on October 22. The report showed that the third quarter revenue was $9.91 billion, an increase of 8.4% year-over-year. In this quarter, the smoke-free business accounted for 38% of PMI's total net income and 40% of gross profit, increasing by 1.9% and 2.2% compared to the third quarter of last year, respectively. The quarterly shipments of smoke-free products reached nearly 40 billion units in 92 markets globally, with a total of 36.5 million users.

Also Read:

[1] PMI reports strong Q3 performance: Smoke-free product users reach 36.5 million, ZYN sales up 41.4% in the US

[2] PMI launches IQOS pilot programme in Austin, Texas

[3] Philip Morris Bulgaria commits to carbon neutrality by 2040

[4] Philip Morris International and others agree to pay $23.6 billion

[5] PMI Real-Time Audio Webcast of Q3 2024 Financial Results

[6] Philip Morris International's Efforts in Substituting Traditional Cigarettes with Alternatives

[7] 30 Years of Innovation: Philip Morris International's Transformation Journey

[8] PMI Italy Launches IQOS iluma i Prime Heating Tobacco Device

[9] PMI's IQOS Revenue Surpasses Marlboro, Aiming for 100B sales

#PMI

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn

Notice

1. This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2. The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3. This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4. Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

Copyright

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

AI Assistance Disclaimer

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

Research Report: E-Cigarette Device Market to Hit $34.29 Billion by 2031; Top Brands Now Hold Nearly Half the Share

Market research firm LP Information has released a global e-cigarette market report forecasting that the e-cigarette device market—including both disposable and reusable devices—will reach US$34.29 billion by 2031, with a 9.4% CAGR from 2025 to 2031.

Oct.16

2Firsts Special Report｜China’s Nicotine Pouch Manufacturing Goes Global: A Supply Chain Reshaped and Redirected

China’s nicotine pouch manufacturing expanded rapidly in 2024 but cooled sharply in 2025. Meanwhile, global demand continued to grow strongly, with multinational tobacco companies increasing investment, prompting some Chinese manufacturers to accelerate the shift of production to Southeast Asia and Europe.

Nov.21

Product | HQD launches the new HQD GO in the U.S., featuring three power levels and a ~$30 price tag.

HQD has listed the disposable HQD GO on its official site and U.S. channels. The device touts 35,000 puffs, three power levels with adjustable airflow, and a 30 mg/ml nicotine strength. On U.S. retail websites, it’s priced at about $29.99.

Oct.24 by 2FIRSTS.ai

UK Government Announces Tougher Vape Controls with QR-Based Stamp System

The UK government will introduce a digital stamp system for all vape products, paired with new enforcement powers including £10,000 fines and possible imprisonment for illegal sales. The measures aim to curb the booming black market and complement restrictions under the Tobacco and Vapes Bill, including future regulation of flavours, packaging, and advertising.