Philip Morris provides 2024-2026 growth targets at investor day

Philip Morris senior management presented the company’s business strategies and growth outlook at its 2023 investor day, held at the company’s operations center in Lausanne, Switzerland. The company provided 2024 to 2026 compound annual growth targets of: 6% to 8% for net revenues, on an organic basis, including growing total shipment volumes; 8% to 10% for adjusted operating income, on an organic basis and 9% to 11% for adjusted diluted EPS, excluding currency, assuming current corporate income tax rates. The company provided 2026 heated tobacco unit shipment volume target of 180B to 200B units and nicotine pouch shipment volume target of 800M to 1B cans. The company expects ZYN to drive double-digit net revenue and adjusted OI compound annual growth for the company’s overall U.S. operations over the 2024 to 2026 period, including the impact of IQOS investments and announced its ambition to have more than two-thirds of its total net revenues come from smoke-free products in 2030.