The company said its net revenues for the 3 months ended September 30, 2024 were $9.9 billion, up $0.8 billion, or 8.4%, from the same period a year earlier. Excluding currency and acquisitions, net revenues rose 11.6%. The company cited pricing changes and higher smoke-free products volume as the main drivers.

10-QQuarterly reportFiled Oct 24, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said its net revenues for the 3 months ended September 30, 2024 were $9.9 billion, up $0.8 billion, or 8.4%, from the same period a year earlier. Excluding currency and acquisitions, net revenues rose 11.6%. The company cited pricing changes and higher smoke-free products volume as the main drivers.
PMI said net revenues for the 9 months ended in 2024 were $28.2 billion, up $2.0 billion, or 7.8%, and rose 11.0% excluding currency and acquisitions. It said currency had an unfavorable impact of $0.44 per diluted share over the same period, and that operations added $0.83 to diluted EPS.
PMI said it announced in September 2024 the sale of Vectura Group Ltd. to Molex Asia Holdings Ltd. and expects the transaction to close by the end of 2024. The company recorded an impairment charge of $198 million related to the classification of Vectura as held for sale in Q3.
The company said it recorded a pre-tax charge of $45 million in Q3 2024 related to tax assessments for Egypt general sales tax covering 2014 to 2016. It said asset impairment and exit costs for the restructuring of IQOS product sourcing for the U.S. and the cessation of operations in Venezuela totaled $168 million pre-tax over the 9 months.

Key figures

Quarter ended September 30, 2024

Revenue: $9.9B
Operating income: $3.7B
Net income: $3.1B
EPS: $1.97
Gross profit: $6.5B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q3 2024 net revenues $9.9 billion

The company said its net revenues for the 3 months ended September 30, 2024 were $9.9 billion, up $0.8 billion, or 8.4%, from the same period a year earlier. Excluding currency and acquisitions, net revenues rose 11.6%. The company cited pricing changes and higher smoke-free products volume as the main drivers.

Source · Based on the MD&A text of the filing

9-month net revenues $28.2 billion and EPS items

PMI said net revenues for the 9 months ended in 2024 were $28.2 billion, up $2.0 billion, or 7.8%, and rose 11.0% excluding currency and acquisitions. It said currency had an unfavorable impact of $0.44 per diluted share over the same period, and that operations added $0.83 to diluted EPS.

Source · Based on the MD&A text of the filing

Vectura Group Sale and Impairment Charge of $198 million

PMI said it announced in September 2024 the sale of Vectura Group Ltd. to Molex Asia Holdings Ltd. and expects the transaction to close by the end of 2024. The company recorded an impairment charge of $198 million related to the classification of Vectura as held for sale in Q3.

Source · Based on the MD&A text of the filing

Egypt Sales Tax and Venezuela Exit Costs

The company said it recorded a pre-tax charge of $45 million in Q3 2024 related to tax assessments for Egypt general sales tax covering 2014 to 2016. It said asset impairment and exit costs for the restructuring of IQOS product sourcing for the U.S. and the cessation of operations in Venezuela totaled $168 million pre-tax over the 9 months.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

Unauthorized scraping, data storage and database creation prohibited

Without prior written consent, you must not crawl or scrape data compiled and organized by Chickstock or its analysis and summaries, or collect them repeatedly or in bulk for storage, ingestion or database creation. Repurposing, redistribution, sale and use to build other services are also prohibited.

Unauthorized use may result in access restrictions, demands to stop infringement and delete copies, and claims for damages. Violations of applicable law may also give rise to criminal liability.

Uses permitted by law, the Terms of Service or a separate agreement remain subject to their respective scope. Rights in individual source materials, including original filings, remain with their respective rights holders.