Philip Morris Q4 Earnings Overview

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

Revenue and Shipment Growth

The total net revenue for the quarter was reported at $9.7 billion, showcasing a 7.3% increase from the previous year. Additionally, the company experienced a 2.3% annual rise in total shipment volume, totaling 193.1 billion units.

Annual Financial Highlights

For the entire fiscal year, the earnings per share stood at $4.52, with the diluted EPS reaching $6.57. Operating income also saw a significant 12.8% year-over-year increase, amounting to $3.3 billion.

CEO's Statement

"2024 was a remarkable year for PMI. We delivered very strong full-year results driven by the continued growth of IQOS and ZYN in addition to a robust combustibles performance," stated Company CEO Jacek Olczak.