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

Product | VOZOL’s New E-Cigarette Appears on Middle East Social Media, Touted at 40,000 Puffs with Dual Mesh Coils and Dual Modes
Product | VOZOL’s New E-Cigarette Appears on Middle East Social Media, Touted at 40,000 Puffs with Dual Mesh Coils and Dual Modes
VOZOL has recently promoted its MAGIC FLEX 40000 e-cigarette on its official Iraq social media account, using mainly Arabic-language posts and listing Baghdad as the account location. The campaign highlights a detachable/separate battery, the ability to switch flavors at will, ECO/POWER dual-mode operation, and a display-based user interface.
Jan.27 by 2FIRSTS.ai
Alan Zhao: In the Post-“Absolute Resolve” Era: Speculating on U.S.-Referenced Regulatory Alignment and the Restructuring of Order in South America’s Novel Tobacco Market
Alan Zhao: In the Post-“Absolute Resolve” Era: Speculating on U.S.-Referenced Regulatory Alignment and the Restructuring of Order in South America’s Novel Tobacco Market
Alan Zhao analyzes post-Operation Absolute Resolve geopolitics and the rise of “U.S.-referenced regulatory alignment” in South America’s novel tobacco market as U.S. influence grows. Using regulatory reliance, digitalized enforcement, and industrial shifts, he assesses how rule redesign may alter market access, competition, and supply chains, asking how firms can find durable certainty as order is rewritten.
Jan.06 by 2Firsts Perspectives
Milton Police Call It Florida’s Largest Illegal Vape Seizure, With 500+ Products Confiscated Across Seven Stores
Milton Police Call It Florida’s Largest Illegal Vape Seizure, With 500+ Products Confiscated Across Seven Stores
According to a Milton Police Department (MPD) news release, Milton, Florida officers and partner agencies carried out compliance checks at seven vape retailers on Jan. 27, seizing more than 500 illegal vape products and arresting employees allegedly involved in sales to minors. Authorities also reported finding unlicensed marijuana sales, high-THC products, nitrous oxide and illegal charging units.
Jan.29 by 2FIRSTS.ai
China National Tobacco Corp paid $222 bln into state finances in 2025
China National Tobacco Corp paid $222 bln into state finances in 2025
China National Tobacco Corporation (CNTC) paid a record $222 billion into China’s state finances in 2025, according to official industry data.
Special Report
Jan.23
Canadians visiting Mexico warned of stricter penalties for bringing e-cigarettes or vaping devices
Canadians visiting Mexico warned of stricter penalties for bringing e-cigarettes or vaping devices
Canadians traveling to Mexico should avoid packing e-cigarettes or vaping devices, citing Canada’s travel advisory warning that tourists have been banned from bringing such items into Mexico since 2025. The advisory says customs officials could confiscate the items upon arrival and travelers could be fined or detained.
Feb.09 by 2FIRSTS.ai
Study: Links between internalizing mental health symptoms and nicotine/tobacco use vary by gender identity among U.S. adolescents
Study: Links between internalizing mental health symptoms and nicotine/tobacco use vary by gender identity among U.S. adolescents
A study using 2020–2023 U.S. data from the ITC Youth Tobacco and Vaping Survey (ages 16–19) reports that both nicotine/tobacco use and internalizing mental health (IMH) symptoms vary across disaggregated gender identities, and that gender identity moderates the relationship between IMH symptoms and product use.
Feb.27 by 2FIRSTS.ai