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

SMOORE’s DOJO by VAPORESSO to Launch New Global Brand Identity on September 1
SMOORE’s DOJO by VAPORESSO to Launch New Global Brand Identity on September 1
According to recent LinkedIn posts from people at VAPORESSO, SMOORE and a German distribution partner, vape brand DOJO will begin rolling out a new global brand identity on September 1, 2026, led by a redesigned handwritten logo. The new visual system will be gradually applied across product packaging, marketing materials and digital assets over the following months. Fabio Corsaro, Head of Marketing and Purchasing at MG Wesel GmbH, said the rebrand was related to trademark issues, but that explanation has not been publicly confirmed by DOJO, VAPORESSO or SMOORE. DOJO is currently promoting its Blast X product in Germany.
Aug.31
2Firsts Exclusive Analysis | RLX Q2 Revenue Rises 14.8%, Company Takes Control of Western European Distributor and Expands Multi-Category Strategy
2Firsts Exclusive Analysis | RLX Q2 Revenue Rises 14.8%, Company Takes Control of Western European Distributor and Expands Multi-Category Strategy
business accounting for 68.5% of sales. A new controlling investment in a Western European distributor and plans to scale modern oral nicotine pouches point to a broader international strategy spanning channels and multiple product categories.
Special Report
Aug.14
Smoore Wins Three Heated Device Supply Lots in China Tobacco Jiangsu’s Overseas Market Project Covering Japan, South Korea and Southeast Asia
Smoore Wins Three Heated Device Supply Lots in China Tobacco Jiangsu’s Overseas Market Project Covering Japan, South Korea and Southeast Asia
China Tobacco Jiangsu Industrial Co., Ltd. (JSIC) has completed its 2026-2028 heated device procurement project, with Shenzhen Smoore Technology Limited securing final supply contracts for three lots: U1, C1 and C2. The project was launched through a public tender in June 2026 to support overseas markets and involved heated tobacco devices carrying JSIC’s “iRod” trademark. Candidate supplier results published on July 13 showed Smoore ranked first for the three awarded lots, while Shenzhen Yunxi Intelligent Technology Co., Ltd. and Shenzhen Bodi Technology Development Co., Ltd. participated in the bidding process.
Aug.03
Product | SKE Launches FRESA PRO in the U.S., Introducing Fresh Lock Technology for E-Liquid Management in High-Capacity Vapes
Product | SKE Launches FRESA PRO in the U.S., Introducing Fresh Lock Technology for E-Liquid Management in High-Capacity Vapes
Shenzhen SKE Technology has launched the FRESA PRO in the United States, a high-capacity rechargeable disposable vape featuring Fresh Lock electromagnetic valve supply control technology. The device combines a claimed capacity of up to 40,000 puffs, dual mesh coils, dual output modes and a transparent tank design. The launch reflects the high-capacity disposable vape segment’s shift from puff-count competition toward improved e-liquid management and device-level experience.
Aug.03
InterTabac 2026: Further Sessions on Regulation, Market Access and Innovation Confirmed; 2FIRSTS to Host China Market Forum
InterTabac 2026: Further Sessions on Regulation, Market Access and Innovation Confirmed; 2FIRSTS to Host China Market Forum
InterTabac 2026 will bring together international experts to discuss European regulation, tax policy, Track & Trace, market access, retail impacts, consumer behavior and innovation. Sessions will also examine Poland’s tobacco-growing perspective and the growing fragmentation of Europe’s tobacco and nicotine market. Media partner 2FIRSTS will host the second “2FIRSTS Connect at InterTabac” on September 16, focusing on developments in China’s tobacco and nicotine industry.
Aug.06
BAT’s Velo Study Finds 61% of Nicotine Users Feel More Comfortable Expressing Themselves When Others Do the Same
BAT’s Velo Study Finds 61% of Nicotine Users Feel More Comfortable Expressing Themselves When Others Do the Same
British American Tobacco’s (BAT) nicotine pouch brand Velo has released a global consumer study and launched its “Echoes of Tomorrowland” campaign with electronic music festival brand Tomorrowland. The research surveyed 2,009 nicotine users across the UK, Spain, Pakistan, Poland and Austria. Velo said 61% of respondents feel more comfortable expressing themselves when they see others doing the same, while 39% said building meaningful connections becomes harder with age. The campaign reflects how nicotine pouch brands are increasingly using music, communities and lifestyle marketing to build consumer engagement.
Aug.10