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

Moldova adopts new sanitary rules for tobacco products, e-cigarettes and related goods
Moldova adopts new sanitary rules for tobacco products, e-cigarettes and related goods
Moldova is introducing new sanitary standards for tobacco products, e-cigarettes and related goods, with regulations adopted on January 14 aimed at protecting public health and tightening control over tobacco sales. The rules include measures to limit minors’ access to tobacco products, including via online shops, and establish procedures for notifications, reporting and market monitoring.
Jan.16 by 2FIRSTS.ai
Malaysia health minister says court conviction over vape promotion sets key precedent for Act 852 enforcement
Malaysia health minister says court conviction over vape promotion sets key precedent for Act 852 enforcement
Malaysia’s Health Minister Datuk Seri Dr Dzulkefly Ahmad said the Putrajaya Magistrate’s Court decision to convict a known personality for promoting vape has set an important legal precedent for enforcing the Control of Smoking Products for Public Health Act (Act 852).
Jan.09 by 2FIRSTS.ai
KT&G Q4 and Full-Year 2025 Results: Global CC Strongest, NGP Penetration Expands
KT&G Q4 and Full-Year 2025 Results: Global CC Strongest, NGP Penetration Expands
According to KT&G’s official website (Feb 5, 2026), KT&G released its 2025 fourth-quarter and full-year results. Driven by strong growth in its overseas cigarette business and a rebound in its real estate business, the company posted double-digit increases in both revenue and operating profit, reaching record-high performance.
Feb.05 by 2FIRSTS.ai
JUUL Files ITC Complaint over Vaporizer Device Infringement
JUUL Files ITC Complaint over Vaporizer Device Infringement
The U.S. International Trade Commission has instituted a Section 337 investigation following a complaint filed by JUUL Labs, Inc. and VMR Products LLC. The complaint alleges that certain vaporizer devices, cartridges and related components infringe two U.S. patents. The investigation covers importation, sale for importation and post-importation sales in the United States, with the complainants seeking a limited exclusion order and cease and desist orders.
Dec.19 by 2FIRSTS.ai
Russia’s Duma Deputy Speaker Davankov calls for a total vape ban, citing drug sales disguised as vapes
Russia’s Duma Deputy Speaker Davankov calls for a total vape ban, citing drug sales disguised as vapes
Vladislav Davankov, deputy speaker of Russia’s State Duma, urged a nationwide ban on vapes, arguing it would help prevent drugs being sold under the cover of vaping products, including near schools. The remarks come as Russia prepares to enforce a separate ban on vape sales at public transport stops starting Sept. 1, 2026.
Feb.09 by 2FIRSTS.ai
KT&G says lil reached about US$2.924 billion in cumulative sales and is expanding overseas
KT&G says lil reached about US$2.924 billion in cumulative sales and is expanding overseas
KT&G said its HNB brand lil has grown since launch, reporting KRW 7.8 billion (about US$5.304 million) in sales in 2017 and about KRW 4.3 trillion (about US$2.924 billion) in cumulative sales by last year’s third quarter, with KRW 5 trillion (about US$3.400 billion) described as within reach. KT&G said lil has entered more than 30 countries and supplies some products abroad via a partnership with PMI.
Jan.13 by 2FIRSTS.ai