A FUTURE WITHOUT CIGARETTES IS POSSIBLE
AND WE’RE DOING OUR PART TO GET THERE AS SOON AS POSSIBLE.

Led by science and innovation, Philip Morris International has disrupted its business and industry with the goal of completely ending the sale of cigarettes.

We are delivering smoke-free products that are a better choice for adults than continued smoking. Our ambition is to become substantially smoke-free by 2030, with our smoke-free business generating over two-thirds of total net revenues.

Our progress toward a smoke-free future as of Q3 2024

  • C24002_Spotlight_icons_150x150_PMI_process-;age_icon_150x150_1

    38 percent

    of PMI’s total net revenues came from our smoke-free business.

  • C24002_Spotlight_icons_150x150_PMI_process-page_icon_150x150_2 1

    36.5 million

    estimated total adult users of PMI’s smoke-free products. ¹

  • C24002_Spotlight_icons_150x150_PMI_process-;age_icon_150x150_4

    92 markets

    where our smoke-free products are available.

  • C24002_Spotlight_icons_150x150_PMI_process-;age_icon_150x150_5

    USD >12.5 billion

    invested to develop, scientifically substantiate, and commercialize smoke-free products since 2008. ²

 1 As of June 30, 2024. 2 As of December 31, 2023. Important Note: This information should be read in conjunction with the Philip Morris International Inc. earnings release dated October 22, 2024, as well as the accompanying glossary of key terms, definitions, explanatory notes, select financial information and reconciliations of non-GAAP financial measures, both of which are available on our Investor Relations pages. “PMI” refers to Philip Morris International Inc. and its subsidiaries. 


Emmanuel Babeau’s highlights from our Q3 2024 results

Our third quarter results are out.

Following an excellent first half,

we delivered another

outstanding performance in Q3.

All key elements of the business performed

at or above expectations,

with our smoke-free business

accelerating on an underlying basis.

Our heated tobacco unit volumes delivered

a step-up in adjusted

in-market sales growth in Q3,

as we saw strong momentum supported by

our commercial programs, including events

to celebrate the 10-year anniversary of

the launch of IQOS,

our leading heated tobacco product.

Nicotine pouch shipment volumes were at

the higher end of our expectations,

with a significant sequential step up to deliver

growth in the U.S.

of over 40% year on year.

We had a small but growing contribution

from our e-vapor business, as we saw

continued volume momentum

led by our closed pod offering.

And finally, our combustible business

delivered a very good quarter led by

strong pricing and resilient volumes.

Q3 net revenues grew close to 12% organically,

driven by best-in-class

volumes and pricing.

Additionally, we delivered substantial

margin expansion and earnings growth,

resulting in +18% adjusted earnings per share growth

in constant currency, and over 14% on a dollar basis.

Our overall Q3 performance epitomized

the strengths of our strategy, with underlying

momentum across categories bolstered

by our proactive measures on

pricing and cost efficiencies.

 

* Smoke-free product net revenues as of Q3 2014.
** Smoke-free business net revenues as of Q3 2024.