Philip Morris International Inc. Reports Strong Q4 Performance

Philip Morris International Inc. revealed its financial outcomes for the fourth quarter of fiscal 2024, showcasing a diluted loss per share of $0.38. However, the company outperformed market expectations with adjusted earnings per share of $1.55.

The total net revenue for the quarter was reported at $9.7 billion, indicating a 7.3% increase from the previous year. The shipment volume also saw a 2.3% annual rise, totaling 193.1 billion units. Moreover, the operating income experienced a significant 12.8% year-over-year increase, reaching $3.3 billion. For the entire year, the earnings per share (EPS) were recorded at $4.52, with a diluted EPS of $6.57.

"2024 has been an exceptional year for PMI, marked by strong full-year results. The growth of IQOS and ZYN, alongside a solid performance in combustibles, has been pivotal," stated Jacek Olczak, CEO of the company.