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

VEEV Arrives in South Korea, Completing PMI’s IQOS-ZYN-VEEV Portfolio
VEEV Arrives in South Korea, Completing PMI’s IQOS-ZYN-VEEV Portfolio
Philip Morris Korea has officially launched its VEEV e-vapor brand in South Korea, introducing both the VEEV inPRIME device and VEEBI inPRIME pods. The launch further expands PMI’s smoke-free portfolio in Korea, alongside its IQOS heated tobacco products and ZYN nicotine pouches.
Jun.16
Germany Expands Take-Back Rules for Disposable Vapes From July 1
Germany Expands Take-Back Rules for Disposable Vapes From July 1
Germany has expanded take-back obligations for disposable vapes from July 1, 2026, requiring consumers to be able to return used devices at stores that sell such products, including kiosks, petrol stations and vape shops, as e-cigarette regulation extends from sales to waste management and lithium-battery safety.
Market
Jul.06 by 2Firsts Perspectives
FDA Grants MRTP Orders for 20 ZYN Nicotine Pouches
FDA Grants MRTP Orders for 20 ZYN Nicotine Pouches
The U.S. Food and Drug Administration (FDA) has issued modified risk granted orders to Swedish Match USA for 20 ZYN nicotine pouch products, allowing the already-authorized products to be marketed with a specific claim that using ZYN instead of cigarettes lowers the risk of mouth cancer, heart disease, lung cancer, stroke, emphysema and chronic bronchitis.
Jul.01
InterTabac 2026: First conference program highlights now available online
InterTabac 2026: First conference program highlights now available online
With three months to go before the international tobacco and nicotine industry gathers again in Dortmund, InterTabac, together with NUBIZ and InterSupply, is set to bring around 800 exhibitors from across the globe to eleven exhibition halls. The three events will showcase innovation, market trends and industry networking, while the first conference program highlights are now online, offering trade visitors keynotes, panel discussions and masterclasses to support business decision-making.
Events
Jun.22
Trump’s Tobacco Investments and Industry Donations Draw Scrutiny as FDA Eases Vape and Nicotine Pouch Rules
Trump’s Tobacco Investments and Industry Donations Draw Scrutiny as FDA Eases Vape and Nicotine Pouch Rules
A report by KFF Health News says that as the Trump administration pursued a series of policies favorable to the nicotine and tobacco industry, President Donald Trump increased his holdings in tobacco companies while benefiting from substantial industry-linked political donations, prompting questions from public health advocates about potential conflicts of interest and regulatory direction.
Jun.12
2Firsts Exclusive Analysis | RLX Q1 Revenue Rises 96.2%, International Business Points to a More Integrated Global Strategy
2Firsts Exclusive Analysis | RLX Q1 Revenue Rises 96.2%, International Business Points to a More Integrated Global Strategy
RLX Technology’s Q1 net revenues rose 96.2% year over year, with international business accounting for 72.3% of total revenue. Beyond the headline growth, the results point to deeper globalization: European operations, Nexus supply-chain integration and a broader product portfolio are becoming key signals to watch.
Special Report
May.20