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

Cambodia Siem Reap raid seizes over 10,000 e-cigarette items; two arrested
Cambodia Siem Reap raid seizes over 10,000 e-cigarette items; two arrested
Police in Siem Reap, Cambodia, seized 10,168 items of e-cigarette paraphernalia during a raid on February 28, 2026, and arrested two suspected sellers and owners of the premises.
Mar.03 by 2FIRSTS.ai
Coalition pushes back on Hochul’s proposed 75% wholesale tax on alternative nicotine products
Coalition pushes back on Hochul’s proposed 75% wholesale tax on alternative nicotine products
A coalition of business owners and former law enforcement officers protested Gov. Kathy Hochul’s proposed 75% wholesale tax on alternative nicotine products, saying it would fuel organized crime and burden low-income New Yorkers, while supporters said it would curb addiction and help fund hospitals.
Feb.28 by 2FIRSTS.ai
Special Report | Breeze and Glas Seek White House Review as FDA Advances Flavored ENDS Guidance
Special Report | Breeze and Glas Seek White House Review as FDA Advances Flavored ENDS Guidance
Breeze Smoke and Glas, Inc. have separately requested White House review under Executive Order 12866 as the FDA advances draft guidance on flavored ENDS (RIN 0910-ZC78). The guidance aims to clarify evidentiary standards under the statutory “appropriate for the protection of public health” (APPH) framework. The parallel filings highlight industry concern over regulatory predictability, particularly as Glas’s PMTA review status has recently drawn market attention.
Special Report
Mar.03
Malaysia’s Perak Health Department says seized vape-related items valued at RM2,738 during two-week operation
Malaysia’s Perak Health Department says seized vape-related items valued at RM2,738 during two-week operation
Malaysia’s Perak State Health Department said it carried out a two-week joint enforcement operation from January 1 to 14, 2026, in line with the state government’s policy prohibiting renewals of vape sales licences effective January 1.
Jan.20 by 2FIRSTS.ai
Five Inner West Sydney shops shut for 90 days after 780,000 illicit cigarettes and 2,200 illegal vapes seized
Five Inner West Sydney shops shut for 90 days after 780,000 illicit cigarettes and 2,200 illegal vapes seized
NSW Health has shut down five Inner West Sydney stores for 90 days after a major seizure of illicit cigarettes and illegal vapes, with two additional premises in Northern NSW also served closure notices. The action forms part of a broader crackdown that has seen 66 stores closed since new laws took effect in late 2025, with NSW Health warning further enforcement — including prosecution — may follow.
Feb.09 by 2FIRSTS.ai
British American Tobacco to close South Africa cigarette plant by end-2026, citing illicit trade squeezing legal market
British American Tobacco to close South Africa cigarette plant by end-2026, citing illicit trade squeezing legal market
British American Tobacco South Africa (BATSA) said it will halt local production of factory-made cigarettes and close its manufacturing plant in Heidelberg, Gauteng by the end of 2026, shifting to an import-led supply model. The company said illicit cigarettes now account for about 75% of South Africa’s market, making local manufacturing “unsustainable” and putting around 230 jobs at risk.
Jan.16