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11
2025
-
02
Philip Morris International reports its latest results with strong growth in ZYN and IQOS
On February 6, 2025, Philip Morris International announced its fourth quarter and full year results for 2024.
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On February 6, 2025, Philip Morris International announced its fourth quarter and full year results for 2024.
The company's fourth-quarter net sales rose 7.3% to $9.71 billion, beating expectations of $9.44 billion. The company also forecast adjusted annual earnings per share in the range of $7.04 to $7.17, above analysts' expectations of $7.03. The positive news sent the company's shares up more than 10%.
Analysts said the strong performance in the fourth quarter of 2024 was driven by strong demand for Philip Morris' smoking alternatives, such as ZYN nicotine pouches and IQOS. In the quarter, oral inhalation smokeless product cans increased 25% from a year ago, driven by growth in ZYN nicotine pack products in the United States, where U.S. shipments reached nearly 165 million cans, an increase of nearly 42% from the prior year.
In January, the U.S. Food and Drug Administration officially approved Philip Morris to sell ZYN in the United States, saying the product contains significantly lower levels of harmful ingredients than cigarettes and poses a lower risk of serious health problems.
In addition, Philip Morris International's heated non-burn product IQOS continued to consolidate its overall position as the second largest nicotine brand in the existing market, accounting for more than 75% of global sales in the heated non-burn category.
In the e-cigarette category, VEEV is increasingly trusted by adult legal users and has become one of the top three bomb brands in 13 European markets, including five markets including Italy, Romania and the Czech Republic.
Jacek Olczak, CEO of Philip Morris International, said: "2024 will be a remarkable year for Philip Morris International. We delivered a very strong full-year performance, driven by continued growth in IQOS and ZYN and strong performance in combustible cigarettes."
"The long-awaited U.S. FDA authorization of all ZYN nicotine packs currently sold in the United States is further evidence of the compelling science supporting smoke-free new tobacco products." We hope that our other pending FDA applications will be expedited. We also hope that other countries will follow the lead of the United States in adopting effective tobacco harm reduction measures. This is especially important where new smokeless tobacco products are banned, which perpetuates combustible cigarette consumption."
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