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

Wisconsin Fines Vape Retailers Nearly $13 Million for Selling Unapproved Products

The state of Wisconsin has fined one retailer nearly USD 12.44 million and another USD 450,000 for violating the state’s new vape sales law, which took effect in September and restricts sales to an approved list of products.

Dec.11 by 2FIRSTS.ai

Saratov Governor Supports Russian Nationwide Ban on E-Cigarette Sales

Governor of Saratov Oblast, announced on his official Telegram channel that he fully supports a nationwide ban on the sale of e-cigarettes. Busargin noted that while restrictions on such products have long been in place, enforcement remains weak and health experts continue to warn of the risks posed to children. He stressed that economic interests must not outweigh public health and said Saratov is ready to enforce a ban once regional powers are granted.

Nov.17 by 2FIRSTS.ai

Feature | Vape Politics in Russia: Local Governments Push Forward Despite Legislative Deadlock

As Russia’s federal vape policy stalls, regional governors are racing to implement local bans—now with the backing of President Vladimir Putin. The divide between swift local action and delayed national legislation is fueling debate over health, regulation, and the country’s broader approach to nicotine control.

Oct.28

Morocco Aligns Cigarette Pricing Structure with New 2026 Tax Adjustment

Morocco will raise retail cigarette prices by 1–2 dirhams (≈ US$ 0.10–0.20) per pack starting January 1, 2026, as part of the final phase of its tobacco tax reform. The adjustment mainly affects value-category cigarette brands; premiums remain largely unchanged.