Philip Morris Q3 Net Revenue Rises 5.5% as Smoke-Free Sales Grow

Philip Morris International lifted third-quarter net revenue 5.5% to $11.438 billion as both smoke-free and combustible tobacco revenue increased year over year for the quarter ended Sept. 30. Total net revenue rose 7.1% on an organic basis. Smoke-free shipments increased 2.7% to 48.2 billion equivalent units, while smoke-free net revenue grew 4.1% to $4.625 billion. The category generated more than 40% of quarterly net revenue and grew 6.3% on an organic basis. Smoke-free products include heat-not-burn, e-vapor and oral smokeless products. Heat-not-burn shipments rose 1.5%, while e-vapor shipments climbed 61.6%. International modern oral volume increased 20.6% to 0.5 billion pouches.

Source: TokenPost