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

China’s E-Cigarette Exports Rise to USD 1.098 Billion in October 2025, Up 23.7% Year-on-Year as U.S. Demand Surges
China’s E-Cigarette Exports Rise to USD 1.098 Billion in October 2025, Up 23.7% Year-on-Year as U.S. Demand Surges
China’s e-cigarette exports reached USD 1.098 billion in October 2025, rising 24.8% month-on-month and 23.7% year-on-year, according to the latest data released by the General Administration of Customs of China. Export concentration increased to 83.11%, with the U.S. market contributing the largest share of monthly growth.
Nov.21 by 2FIRSTS.ai
BAT Podcast with AACS CEO: Vape Policy Imbalance Fuels Australia’s Billion-Dollar Illicit Market
BAT Podcast with AACS CEO: Vape Policy Imbalance Fuels Australia’s Billion-Dollar Illicit Market
In BAT’s The Smokeless Word podcast, AACS CEO Theo Foukkare warned that high taxes and strict vape bans have fueled Australia’s AUD 10-billion illicit nicotine market and rising retail crime, urging urgent regulatory reform.
Oct.27 by 2FIRSTS.ai
2Firsts Feature | The “Pink Tax” in Vaping: How Women-Centric Design and Pricing Are Recasting the Competitive Landscape
2Firsts Feature | The “Pink Tax” in Vaping: How Women-Centric Design and Pricing Are Recasting the Competitive Landscape
Overseas e-cig brands are embracing “for her” designs, turning devices into fashion accessories. 2Firsts notes a new “pink tax” emerging through design and pricing, reflecting shifting gender and branding strategies.
Oct.20
CNIPA Targets E-Cigarettes as Key Focus in Crackdown on Trademark Violations
CNIPA Targets E-Cigarettes as Key Focus in Crackdown on Trademark Violations
National Intellectual Property Office issued a notice to strengthen management of illegal use of trademarks, promoting fair competition.
Nov.25 by 2FIRSTS.ai
AIR’s Shisha Brand Al Fakher Launches New Pod-Based Vape in Germany, Touting Non-Ceramic Atomization Technology
AIR’s Shisha Brand Al Fakher Launches New Pod-Based Vape in Germany, Touting Non-Ceramic Atomization Technology
AIR’s shisha brand Al Fakher has launched its rechargeable pod-based vape Crown Switch in Germany, featuring Coldstream technology and claiming low-temperature vaporization without ceramic or metal heating elements. The device is now available on shisha-world, while AIR is simultaneously pushing ahead with its plan to go public on Nasdaq via a SPAC merger.
Nov.20 by 2FIRSTS.ai
XQS Rolls Out Two Beverage-Flavoured Nicotine Pouches in UK; Says Convenience Stores Are the Fastest-Growing Channel
XQS Rolls Out Two Beverage-Flavoured Nicotine Pouches in UK; Says Convenience Stores Are the Fastest-Growing Channel
Scandinavian Tobacco Group (STG) UK has added two beverage-inspired variants—Cola Lime and Fizzy Peach—to its XQS nicotine pouch range. Both come in an 8mg strength and are available exclusively via the Vape Supplier website, with a recommended retail price of £5.50.
Oct.29 by 2FIRSTS.ai