Philip Morris International reported strong Q3 2024 results, with net revenues increasing 8.4% to $9.9 billion and diluted EPS rising 49.2% to $1.97. Excluding currency and acquisitions, net revenues grew 11.6%, driven by favorable pricing and higher smoke-free product volumes. Operating income rose 8.4% to $3.7 billion.The company's total cigarette and heated tobacco unit shipment volume increased 2.6% in Q3, with heated tobacco unit shipments up 8.9%. Oral product shipments surged 32.3%, led by ZYN nicotine pouches in the U.S. PMI maintained its 2024 forecast for total shipment volume growth of 2-3%, driven by smoke-free products.PMI announced plans to sell its Vectura Group subsidiary, resulting in a $198 million impairment charge. The company expects full-year net cash from operations of approximately $11 billion. PMI raised its quarterly dividend by 3.8% to $1.35 per share, reflecting confidence in its smoke-free transformation and financial outlook.

Philip Morris International reported strong Q3 2024 results, with net revenues increasing 8.4% to $9.9 billion and diluted EPS rising 49.2% to $1.97. Excluding currency and acquisitions, net revenues grew 11.6%, driven by favorable pricing and higher smoke-free product volumes. Operating income rose 8.4% to $3.7 billion.The company's total cigarette and heated tobacco unit shipment volume increased 2.6% in Q3, with heated tobacco unit shipments up 8.9%. Oral product shipments surged 32.3%, led by ZYN nicotine pouches in the U.S. PMI maintained its 2024 forecast for total shipment volume growth of 2-3%, driven by smoke-free products.PMI announced plans to sell its Vectura Group subsidiary, resulting in a $198 million impairment charge. The company expects full-year net cash from operations of approximately $11 billion. PMI raised its quarterly dividend by 3.8% to $1.35 per share, reflecting confidence in its smoke-free transformation and financial outlook.