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

Oct.28.2024
PMI Q3: Smokeless products account for 38% of net sales, says The Times
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).

 

PMI Q3: Smokeless products account for 38% of net sales, says The Times
The PMI financial report published in The Times | Image source: 2Firsts

 

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.

 

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

South Korea’s New Vape Rules Raise Bar for E-Liquid Makers and China-Linked Supply Chains, Expert Says
South Korea’s New Vape Rules Raise Bar for E-Liquid Makers and China-Linked Supply Chains, Expert Says
South Korea’s new vape regulations are reshaping the e-liquid market, raising compliance requirements for manufacturers, retailers and overseas suppliers. In an interview with 2Firsts, Korean nicotine products specialist Sam Kim discusses licensing barriers, inventory impacts, China-linked supply chains, and emerging regulatory challenges around nicotine analogues, nicotine-free products and DIY mixing. The Korean case may offer broader insights as governments worldwide adapt to rapidly evolving nicotine products.
Jul.16
Russian Strikes Destroy JTI and Imperial Brands Ukraine Warehouses, With Losses Reaching Tens of Millions of Hryvnias
Russian Strikes Destroy JTI and Imperial Brands Ukraine Warehouses, With Losses Reaching Tens of Millions of Hryvnias
According to Ukrainska Pravda, Russian strikes on the Kyiv region during the night of Aug. 4-5, 2026, damaged warehouses storing products of Japan Tobacco International (JTI) and Imperial Brands Ukraine. JTI said a finished goods warehouse in Kyiv Oblast was destroyed, with no employees injured, and that it did not expect disruptions to retail supplies. Imperial Brands Ukraine said products stored at warehouses of distributors and retail partners were affected and estimated losses from the strikes at “tens of millions of Ukrainian hryvnias” (roughly hundreds of thousands of U.S. dollars).
JTI
Aug.07
Germany Plans Tobacco Tax Hike, With Cigarette Prices Nearing €12 Per Pack by 2030
Germany Plans Tobacco Tax Hike, With Cigarette Prices Nearing €12 Per Pack by 2030
Germany plans to raise tobacco taxes over the coming years, potentially pushing the average price of a 20-cigarette pack to about €11.78 by 2030. The proposal also covers fine-cut tobacco, cigars, pipe tobacco and e-cigarette liquids.
Jul.14
Altria Smokeable Profit Rises 2.4% as Marlboro Share Falls and U.S. Discounts Gain
Altria Smokeable Profit Rises 2.4% as Marlboro Share Falls and U.S. Discounts Gain
Altria’s second-quarter results show a U.S. nicotine market splitting across price, product and regulation. Smokeable profit rose 2.4% as Marlboro pricing offset lower volumes, while discount brand Basic gained share among value-conscious smokers. In oral nicotine, on! PLUS expanded distribution but faced intensifying competition from ZYN and Velo. NJOY remained off the market as patent and regulatory hurdles delayed its return. The broader lesson: U.S. growth increasingly depends on price-tier strategy, retail execution, authorisation and enforcement readiness across the industry.
Special Report
Jul.31
Australia’s Tobacco Tax Debate Intensifies as One Nation’s Barnaby Joyce Warns of Illicit Market Growth
Australia’s Tobacco Tax Debate Intensifies as One Nation’s Barnaby Joyce Warns of Illicit Market Growth
Australian One Nation MP Barnaby Joyce has criticised continued tobacco excise increases, arguing that higher taxes are driving consumers toward illicit tobacco markets and benefiting organised crime groups.
Regulations
Jul.13 by 2Firsts Perspectives
Special Report | Russia, Ukraine and Belarus Launch Fresh Push to Rein in Vaping
Special Report | Russia, Ukraine and Belarus Launch Fresh Push to Rein in Vaping
Russia, Ukraine and Belarus are tightening vape regulation through different tools, from Ukraine’s stronger enforcement push and Belarus’s proposed advertising restrictions to Russia’s new GOST standard and regional sales-ban mechanism. As black-market concerns persist, some Russian experts argue that China’s tightly controlled but legalised model — built around licensing, traceability and taxation — may offer a more effective alternative to blanket prohibition.
Jul.15