Q3 2024 Philip Morris International Inc Earnings Call Transcript
Key Points
- Philip Morris International Inc (PM) reported strong double-digit organic top and bottom-line growth in Q3 2024.
- IQOS and ZYN products showed significant volume growth, with IQOS achieving a 14.8% year-on-year increase in adjusted in-market sales.
- The company raised its full-year guidance for organic revenue growth to around 9.5%, driven by strong performance across its product categories.
- Philip Morris International Inc (PM) achieved a record adjusted diluted earnings per share of $1.91, reflecting a 14.4% growth in dollar terms.
- The company continues to expand its smoke-free product offerings, with IQOS now available in 92 markets and plans to reach 100 by 2025.
- Philip Morris International Inc (PM) faced unfavorable currency impacts, notably due to the weakness in the Egyptian pound and Argentine peso.
- The company is dealing with supply constraints for ZYN in the US, which may not be fully resolved until 2025.
- There are ongoing challenges with illicit trade and patent infringements in the nicotine pouch market.
- The combustible business, while showing growth, faces potential regulatory challenges and excise tax hikes in various markets.
- Philip Morris International Inc (PM) is still navigating the long-standing cigarette-related litigation claims in Canada, which could impact financials.
Good day, and thank you for standing by. Welcome to the Philip Morris International Inc. 2024 Third Quarter Results Conference Call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, James Bushnell, Vice President of Investor Relations and Financial Communications. Please go ahead.
Welcome. Thank you for joining us. Earlier today, we issued a press release containing detailed information on our 2024 third quarter results. The press release is available on our website at pmi.com. A glossary of terms, including the definition for smoke-free products as well as adjustments, other calculations, and reconciliations to the most directly comparable US GAAP measures for non-GAAP financial measures cited in this presentation are available in Exhibit 99.2 to the company's Form 8-K dated on today's date and on our Investor Relations website.
Today's remarks contain forward-looking
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
