Philip Morris Hits Record High on Q3 Earnings Beat: ETFs in Focus
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 25 2024
0mins
Source: NASDAQ.COM
Strong Financial Performance: Philip Morris International reported a significant recovery in 2024, with a 44% stock surge and robust third-quarter results, including adjusted EPS of $1.91 and net revenues of $9.9 billion, surpassing estimates due to increased demand for smoke-free products.
Future Growth Projections: The company anticipates adjusted EPS growth of 7.3-8.3% for 2024, alongside an expected increase in net revenues and operating income, driven by its focus on smoke-free alternatives like IQOS and ZYN nicotine pouches.
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Analyst Views on PM
Wall Street analysts forecast PM stock price to rise
11 Analyst Rating
8 Buy
3 Hold
0 Sell
Moderate Buy
Current: 177.930
Low
175.00
Averages
191.95
High
210.00
Current: 177.930
Low
175.00
Averages
191.95
High
210.00
About PM
Philip Morris International Inc. is an international tobacco company. The Company’s product portfolio primarily consists of cigarettes and smoke-free products. Its smoke-free business (SFB) also includes wellness and healthcare products, as well as consumer accessories, such as lighters and matches. The Company’s segments include Europe Region; South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA); East Asia, Australia & PMI Global Travel Retail (EA, AU & PMI GTR), and Americas Region. The Company's brands include Marlboro, HEETS, IQOS, IQOS ILUMA, TEREA, VEEV and ZYN. Its IQOS smoke-free product brand portfolio includes heated tobacco and nicotine-containing vapor products. Its international cigarette brands are Chesterfield, L&M, and Philip Morris. It also owns a number of local cigarette brands, such as Dji Sam Soe and Sampoerna A in Indonesia, and Fortune and Jackpot in the Philippines.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Focus on Asian Pacific Communities: The funding is specifically directed towards the California Asian Pacific Chamber of Commerce to enhance community engagement and support.
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Market Concerns: The markets are experiencing a downturn due to escalating fears of a prolonged conflict in Iran.
Oil Price Impact: Investors are worried that rising oil prices could negatively affect the global economy and reignite inflation fears.
AI Trade Vulnerability: The situation poses particular challenges for the previously thriving artificial intelligence sector.
Investment Climate: Overall, it is becoming increasingly difficult for investors to find safe investment opportunities amid these uncertainties.
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- Rate Cut Impact: The Federal Reserve's six consecutive rate cuts in 2024 and 2025 have drawn income-seeking investors back to blue chip stocks, particularly as geopolitical tensions rise, enhancing their appeal in turbulent markets.
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- Philip Morris Transformation: Despite declining smoking rates globally, Philip Morris has raised cigarette prices and expanded its smoke-free product portfolio, achieving a 14% organic revenue increase in smoke-free products in 2025, which now accounts for nearly 43% of total revenue, indicating its viability as a long-term investment.
- Optimistic Market Outlook: Analysts project Philip Morris's EPS to grow at a steady 9% CAGR from 2025 to 2028, driven by new products like iQOS and Zyn, and despite exposure to international conflicts, its stock remains a solid defensive investment.
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- Investor Sentiment: This growth in manufacturing is likely to boost investor confidence in the economy.
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- Altria Growth Potential: Despite Altria's slow adaptation to changing tobacco consumption habits, its stock continues to rise, with a market cap of $116 billion and a dividend yield of 6%, as concerns about sustainable dividend growth dissipate with rising cigarette prices.
- Market Volatility Impact: Amid recent market volatility, opportunities to buy blue-chip dividend stocks at reasonable prices have emerged, as investors can capitalize on quality stocks that have temporarily pulled back due to market reactions, while maintaining an optimistic long-term outlook.
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