PMI continues its focus on smoke-free products, with net revenues from smoke-free products reaching $10.8 billion in the first nine months of 2024, compared to $9.3 billion in the same period of 2023.

The acquisition of Swedish Match in 2022 continues to be a key milestone in PMI's transformation to a smoke-free company, with the ZYN brand being a key driver of growth.

PMI announced an agreement to sell Vectura Group Ltd., with the transaction expected to close in the fourth quarter of 2024, subject to regulatory approvals. This is part of a strategy to focus on core business.

PMI continues to monitor the supply chain and is taking actions to mitigate inflationary pressures and supply chain disruptions, including identifying new suppliers, optimizing the mix of tobacco leaf origins and suppliers, and evaluating shipping routes.

PMI is focused on managing costs, including through indexation clauses related to commodity costs and energy pricing within contracts, and tactical inventory purchases.

PMI is continuing to invest in its smoke-free product platforms, including manufacturing capacity for its heated tobacco units and other SFP platforms.

PMI's operations are subject to various economic and political risks, including civil unrest, terrorism, and the threat of war, which could disrupt supply chains, manufacturing capabilities, and distribution.

The ongoing conflict in Ukraine and related sanctions have created uncertainty regarding PMI's operations in Russia, including the possibility of asset impairment, deprivation of rights, or nationalization.

PMI is subject to various regulatory risks, including restrictions on advertising, marketing, and sales of tobacco and nicotine-containing products, as well as potential bans on flavors and ingredients.

PMI maintains a strong market position in many of its key markets, with a wide range of premium, mid-price and low-price brands.

PMI faces intense competition from other tobacco companies, as well as new market entrants, particularly in the smoke-free product category.

PMI is focused on differentiating its products through innovation, R&D, and scientific substantiation, particularly in the smoke-free product category.

PMI continues to focus on improving productivity and efficiency, including through supply chain optimization and cost management initiatives.

PMI is experiencing inflationary pressures on costs, including direct materials, wages, energy, transportation, and logistics, which is being mitigated through various cost management initiatives.

PMI is focused on managing its supply chain, including through the identification of new suppliers and optimizing the mix of tobacco leaf origins and suppliers.

PMI continues to invest in R&D to develop and commercialize innovative smoke-free products, with a focus on scientific substantiation and rigorous assessment.

PMI is developing a portfolio of products intended to appeal to a variety of distinct adult consumer preferences and achieve population harm reduction, including five main platforms.

PMI is increasing its focus on digital communication programs and e-commerce, to support its commercialization efforts and consumer engagement.

PMI has suspended its share repurchase program following the recommended public offer to acquire the outstanding shares of Swedish Match, and the program expired on July 21, 2024.

PMI's Board of Directors approved a 3.8% increase in the quarterly dividend to $1.35 per common share, reflecting a commitment to shareholder returns.

PMI continues to evaluate acquisition candidates, joint ventures, or investments that may strategically fit its business objectives.

PMI has stated its commitment to sustainability and is taking actions to mitigate environmental risks, including those related to climate change, and is working with business partners to protect the environment.

PMI's focus on smoke-free products is a key part of its sustainability strategy, as these products are considered to have a reduced risk profile compared to cigarettes.

PMI is actively monitoring the existing and potential impact of climate change-related legislation, regulations, international accords, reporting frameworks, standards, principles, and other forms of guidance.

PMI's results are subject to currency fluctuations, particularly against the Egyptian pound, Indonesian rupiah, Japanese yen, and Russian ruble.

PMI is experiencing inflationary pressures, which may negatively impact consumer purchasing power and lead to reduced demand for its products.

PMI operates in a highly regulated environment, with various restrictions on the manufacture, marketing, and sale of tobacco and nicotine-containing products.