PMI's Annual Profit Forecast Declines due to Lowered Heat Tobacco Shipments

PMI by 2FIRSTS.ai
Oct.20.2023
PMI's Annual Profit Forecast Declines due to Lowered Heat Tobacco Shipments
PMI's lower-than-expected shipments of heated tobacco products dampen profit forecasts and overshadow Q3 performance, according to French media Boursorama.

According to a report from Boursorama, a French media outlet, Philip Morris International (PMI) is expecting lower than anticipated shipments of its heated tobacco products this year. This has led to disappointment in the company's upward profit forecast for the year and its underperformance in the third quarter, which exceeded expectations.


Despite playing a significant role in the global tobacco industry, PMI is currently seeking alternatives to tobacco due to the increasing stringency of tobacco regulations and decreasing demands in certain markets. PMI's heated tobacco product, IQOS, has been the company's flagship product in its transition towards tobacco alternatives. Since 2008, PMI has announced investments of over $10 billion in heated tobacco products.


Philip Morris International (PMI) announced that due to delays in its product launch in the Taiwanese market and limited growth in the Russian and Ukrainian markets, as well as uncertainty surrounding the new regulations on heated tobacco products in Europe and its impact on inventory levels, its annual shipment volume of heated tobacco products will be lower than initially projected. This contradicts the optimistic outlook on heated tobacco products that was presented by the company during its investor day in September, shifting the focus away from profit growth.


PMI has announced that its adjusted earnings per share for the third quarter were $1.67. According to data provided by LSEG, analysts had an average expectation of earnings per share of $1.61. However, due to increased cigarette prices, demand for heated tobacco products, and the rapid growth of their nicotine pouch brand Zyn, the company has raised its full-year profit forecast and has exceeded expectations in the third quarter.


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

Metal Body + AMOLED Screen: KT&G Launches New Heated Tobacco Device Lil Aible 3.0
Metal Body + AMOLED Screen: KT&G Launches New Heated Tobacco Device Lil Aible 3.0
KT&G said it will launch the heated tobacco device Lil Aible 3.0 at four stores in South Korea on February 28. The device shortens charging and preheating time while keeping features such as pausing during use, mode switching, and three consecutive uses. It adopts a metal body and an AMOLED display, comes in four colors, and will expand to Seoul-area convenience stores and the online mall in April, and nationwide convenience stores in May.
Feb.27 by 2FIRSTS.ai
Ireland Vape Retailers’ Group RVI Calls for Tax Stamps to Strengthen Enforcement of Vape Products Tax
Ireland Vape Retailers’ Group RVI Calls for Tax Stamps to Strengthen Enforcement of Vape Products Tax
Responsible Vaping Ireland (RVI), an Irish vape retailers’ group, has released a policy paper urging Ireland to swiftly introduce Revenue-issued tax stamps on vaping products to strengthen enforcement of the E-Liquid Products Tax (EPT) and to tackle tax evasion and the illicit market. Provisional Department of Finance figures show €1.3 million collected in November and December 2025; at that pace, annualised receipts would be €7.8 million, below the government’s projected €17 million.
Feb.26 by 2FIRSTS.ai
UK Disposable Vape Ban Fallout: Convenience Vape Units Down 20.8%, Retailers Hit by a “Triple Whammy,” Talysis Says
UK Disposable Vape Ban Fallout: Convenience Vape Units Down 20.8%, Retailers Hit by a “Triple Whammy,” Talysis Says
UK convenience insight agency Talysis says vape unit sales in convenience stores have fallen 20.8% and value sales 12.7% nearly eight months after the disposable vape ban took effect.
Jan.28 by 2FIRSTS.ai
2Firsts Observation | Element Vape Launches “Made in USA” Section as Product Pages Show “Assembled in USA” and “Made in USA” Labels
2Firsts Observation | Element Vape Launches “Made in USA” Section as Product Pages Show “Assembled in USA” and “Made in USA” Labels
Element Vape, a U.S. online vaping retailer, uses origin labels such as “Made in USA” and “Assembled in USA” across disposable vape product pages and a dedicated collection page, grouping items under “Made in USA Disposable Vapes,” but the platform does not disclose on its public pages the applicable standards or evidentiary basis for these different claims.
Jan.20 by 2FIRSTS.ai
South Korea’s finance ministry to directly crack down on illegal high-nicotine vape liquids
South Korea’s finance ministry to directly crack down on illegal high-nicotine vape liquids
The report says South Korea’s Ministry of Economy and Finance (referred to as the finance ministry) will directly lead crackdowns on illegal distribution and “upward manipulation” of nicotine concentrations in liquid e-cigarettes, after cases of extremely high-strength nicotine liquids circulating at retail shops were highlighted.
Feb.28 by 2FIRSTS.ai
Product | “Switch”-Style Design, Rated 30,000 Puffs: Open-System Klip’s Switch Edition Listed on French Channels
Product | “Switch”-Style Design, Rated 30,000 Puffs: Open-System Klip’s Switch Edition Listed on French Channels
The open-system e-cigarette Klip’s Switch Edition 30K has recently been listed on multiple French vape e-commerce channels. Channel information indicates the product is a collaboration between Fumytech and Tornadoliq and uses an open refill solution. The kit includes a 7 mL pod/cartridge and two 10 mL refill bottles, with a claimed total usage of around 30,000 puffs. The mainstream retail price is about €19.90.
Feb.06 by 2FIRSTS.ai