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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549



FORM 8-K



CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 19, 2025



Philip Morris International Inc.
(Exact name of registrant as specified in its charter)

Virginia
1-33708
13-3435103
(State or other jurisdiction
of incorporation)
(Commission File Number)
(I.R.S. Employer
Identification No.)

677 Washington Blvd, Ste. 1100StamfordConnecticut06901
(Address of principal executive offices)(Zip Code)


Registrant's telephone number, including area code: (203) 905-2410
(Former name or former address, if changed since last report.)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:



☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, no par valuePMNew York Stock Exchange
2.750% Notes due 2025PM25New York Stock Exchange
3.375% Notes due 2025PM25ANew York Stock Exchange
2.750% Notes due 2026PM26ANew York Stock Exchange
2.875% Notes due 2026PM26New York Stock Exchange
0.125% Notes due 2026PM26BNew York Stock Exchange
3.125% Notes due 2027PM27New York Stock Exchange
3.125% Notes due 2028PM28New York Stock Exchange
2.875% Notes due 2029PM29New York Stock Exchange
3.375% Notes due 2029PM29ANew York Stock Exchange
3.750% Notes due 2031PM31BNew York Stock Exchange
0.800% Notes due 2031PM31New York Stock Exchange
3.125% Notes due 2033PM33New York Stock Exchange
2.000% Notes due 2036PM36New York Stock Exchange
1.875% Notes due 2037PM37ANew York Stock Exchange
6.375% Notes due 2038PM38New York Stock Exchange
1.450% Notes due 2039PM39New York Stock Exchange
4.375% Notes due 2041PM41New York Stock Exchange
4.500% Notes due 2042PM42New York Stock Exchange
3.875% Notes due 2042PM42ANew York Stock Exchange
4.125% Notes due 2043PM43New York Stock Exchange
4.875% Notes due 2043PM43ANew York Stock Exchange
4.250% Notes due 2044PM44New York Stock Exchange









Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
                                                
         Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐



Item 7.01.Regulation FD Disclosure.

On February 19, 2025, Philip Morris International Inc. ("PMI") issued a press release in connection with the Consumer Analyst Group of New York Conference where PMI’s Chief Executive Officer, Jacek Olczak, and Chief Financial Officer, Emmanuel Babeau, will address investors. PMI is furnishing to the Securities and Exchange Commission the press release, dated February 19, 2025, attached as exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference to this Item 7.01.

In accordance with General Instruction B.2 of Form 8-K, the information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in Item 7.01 of this Current Report on Form 8-K shall not be incorporated by reference into any filing or other document pursuant to the Securities Act of 1933, as amended, except as may be expressly set forth by specific reference in such filing or document.


Item 9.01.Financial Statements and Exhibits.


(d)Exhibits.



104Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document and contained in Exhibit 101).


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PHILIP MORRIS INTERNATIONAL INC.
By:/s/ DARLENE QUASHIE HENRY
Name:Darlene Quashie Henry
Title:Vice President, Associate General Counsel & Corporate Secretary
Date: February 19, 2025


Exhibit 99.1
 PRESS RELEASE
image_0a.jpg
Investor Relations:Media: David Fraser
Stamford, CT: +1 (203) 904 2413Lausanne: +41 582 424 500
Lausanne: +41 582 424 666Email: David.Fraser@pmi.com
Email: InvestorRelations@pmi.com


Philip Morris International Presents at 2025 CAGNY Conference;
Reaffirms 2025 Full-Year Forecast

STAMFORD, CT, February 19, 2025 – Philip Morris International Inc.’s (PMI) (NYSE: PM) Chief Executive Officer, Jacek Olczak, and Chief Financial Officer, Emmanuel Babeau, will address investors today at the 2025 Consumer Analyst Group of New York (CAGNY) Conference.

The event will be webcast live in listen-only mode, beginning at approximately 1:00 p.m. ET, at www.pmi.com/2025cagny and on the PMI Investor Relations Mobile Application (www.pmi.com/irapp). Presentation slides will also be available on the same site and the App. An archived copy of the webcast will be available until Friday, March 21, 2025.

The presentation will cover:
•PMI’s progress over the past decade to deliver a smoke-free future;
•the financial model underlying the company’s delivery of superior returns to shareholders;
•the success and future opportunities for the company’s smoke-free brands led by consumer insights and harm reduction.

2025 Full-Year Forecast
PMI reaffirms its 2025 full-year reported diluted EPS forecast, announced on February 6th, of $6.55 to $6.68. Excluding a total 2025 adjustment of $0.49 per share, the forecast range for adjusted diluted EPS of $7.04 - $7.17 represents a projected increase of 7.2% to 9.1% versus $6.57 in 2024. Excluding an adverse currency impact, at then prevailing exchange rates, of $0.22 per share, this represents growth of 10.5% to 12.5%, as shown below.
The assumptions underlying this forecast remain unchanged versus those communicated by PMI in its earnings release of February 6, 2025.
Factors described in the Forward-Looking and Cautionary Statements section of this release represent continuing risks to these projections.


Full-Year
2025
Forecast
2024Growth
Reported Diluted EPS$6.55-$6.68$ 4.52
Adjustments:
Restructuring charges—0.10
Impairment of goodwill and other intangibles—0.01
Amortization of intangibles(1)
0.490.40
Loss on sale of Vectura Group—0.13
Egypt sales tax charge—0.03
Megapolis localization tax impact—0.05
Income tax impact associated with Swedish Match AB financing—0.14
Impairment related to the RBH equity investment—1.49
Fair value adjustment for equity security investments—(0.27)
Tax items—(0.03)
Total Adjustments0.492.05
Adjusted Diluted EPS$7.04-$7.17$ 6.577.2%-9.1%
Less: Currency(0.22)
Adjusted Diluted EPS, excluding currency$7.26-$7.39$ 6.5710.5%-12.5%
(1) See forecast assumptions section in Q4’24 Earnings Release for details
Forward-Looking & Cautionary Statements
The presentation, related discussion and this press release contain projections of future results and goals and other forward-looking statements, including statements regarding expected financial or operational performance; capital allocation plans; investment strategies; regulatory outcomes; market expectations; business plans and strategies; the likelihood and impact to PMI of the proposed CCAA plan; and the likelihood and impact of RBH remaining deconsolidated. Achievement of future results is subject to risks, uncertainties and inaccurate assumptions. In the event that risks or uncertainties materialize, or underlying assumptions prove inaccurate, actual results could vary materially from those contained in such forward-looking statements. Pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, PMI is identifying important factors that, individually or in the aggregate, could cause actual results and outcomes to differ materially from those contained in any forward-looking statements made by PMI.
PMI's business risks include: excise tax increases and discriminatory tax structures; increasing marketing and regulatory restrictions that could reduce our competitiveness, eliminate our ability to communicate with adult consumers, or ban certain of our products in certain markets or countries; health concerns relating to the use of tobacco and other nicotine-containing products and exposure to environmental tobacco smoke; litigation related to tobacco and/or nicotine use and intellectual property; intense competition; the effects of global and individual country economic, regulatory and political developments, natural disasters and conflicts; the impact and consequences of Russia's invasion of Ukraine; changes in adult smoker behavior; the impact of natural disasters and pandemics on
2


PMI's business; lost revenues as a result of counterfeiting, contraband and cross-border purchases; governmental investigations; unfavorable currency exchange rates and currency devaluations, and limitations on the ability to repatriate funds; adverse changes in applicable corporate tax laws; adverse changes in the cost, availability, and quality of tobacco and other agricultural products and raw materials, as well as components and materials for our electronic devices; and the integrity of its information systems and effectiveness of its data privacy policies. PMI's future profitability may also be adversely affected should it be unsuccessful in its attempts to introduce, commercialize, and grow smoke-free products or if regulation or taxation do not differentiate between such products and cigarettes; if it is unable to successfully introduce new products, promote brand equity, enter new markets or improve its margins through increased prices and productivity gains; if it is unable to expand its brand portfolio internally or through acquisitions and the development of strategic business relationships; if it is unable to attract and retain the best global talent, including women or diverse candidates; or if it is unable to successfully integrate and realize the expected benefits from recent transactions and acquisitions. Future results are also subject to the lower predictability of our smoke-free products performance.
PMI is further subject to other risks detailed from time to time in its publicly filed documents, including PMI's Annual Report on Form 10-K for the fourth quarter and year ended December 31, 2024. PMI cautions that the foregoing list of important factors is not a complete discussion of all potential risks and uncertainties. PMI does not undertake to update any forward-looking statement that it may make from time to time, except in the normal course of its public disclosure obligations.

Philip Morris International: Delivering a Smoke-Free Future
Philip Morris International is a leading international tobacco company, actively delivering a smoke-free future and evolving its portfolio for the long term to include products outside of the tobacco and nicotine sector. The company’s current product portfolio primarily consists of cigarettes and smoke-free products. Since 2008, PMI has invested over $14 billion to develop, scientifically substantiate and commercialize innovative smoke-free products for adults who would otherwise continue to smoke, with the goal of completely ending the sale of cigarettes. This includes the building of world-class scientific assessment capabilities, notably in the areas of pre-clinical systems toxicology, clinical and behavioral research, as well as post-market studies. In 2022, PMI acquired Swedish Match – a leader in oral nicotine delivery – creating a global smoke-free champion led by the companies’ IQOS and ZYN brands. Following a robust science-based review, the U.S. Food and Drug Administration has authorized the marketing of Swedish Match’s General snus and ZYN nicotine pouches and versions of PMI’s IQOS devices and consumables - the first-ever such authorizations in their respective categories. Versions of IQOS devices and consumables and General snus also obtained the first-ever Modified Risk Tobacco Product authorizations from the FDA. As of December 31, 2024, PMI's smoke-free products were available for sale in 95 markets, and PMI estimates that 38.6 million adults around the world use PMI's smoke-free products. The smoke-free business accounted for approximately 39% of PMI’s total full-year 2024 net revenues. With a strong foundation and significant expertise in life sciences, PMI has a long-term ambition to expand into wellness and healthcare areas and aims to enhance life through the delivery of seamless health experiences. References to “PMI”, “we”, “our” and “us” mean Philip Morris International Inc., and its subsidiaries. For more information, please visit www.pmi.com and www.pmiscience.com.
3

v3.25.0.1
Document and Entity Information
Feb. 19, 2025
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Feb. 19, 2025
Entity Registrant Name Philip Morris International Inc.
Entity Central Index Key 0001413329
Amendment Flag false
Entity Incorporation, State or Country Code VA
Entity File Number 1-33708
Entity Tax Identification Number 13-3435103
Entity Address, Address Line One 677 Washington Blvd, Ste. 1100
Entity Address, City or Town Stamford
Entity Address, State or Province CT
Entity Address, Postal Zip Code 06901
City Area Code 203
Local Phone Number 905-2410
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Common Stock [Member]  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock, no par value
Trading Symbol PM
Security Exchange Name NYSE
2.750% Notes due 2025 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 2.750% Notes due 2025
Trading Symbol PM25
Security Exchange Name NYSE
3.375% Notes due 2025 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 3.375% Notes due 2025
Trading Symbol PM25A
Security Exchange Name NYSE
2.750% Notes due 2026 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 2.750% Notes due 2026
Trading Symbol PM26A
Security Exchange Name NYSE
2.875% Notes due 2026 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 2.875% Notes due 2026
Trading Symbol PM26
Security Exchange Name NYSE
0.125% Notes due 2026 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 0.125% Notes due 2026
Trading Symbol PM26B
Security Exchange Name NYSE
3.125% Notes due 2027 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 3.125% Notes due 2027
Trading Symbol PM27
Security Exchange Name NYSE
3.125% Notes due 2028 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 3.125% Notes due 2028
Trading Symbol PM28
Security Exchange Name NYSE
2.875% Notes due 2029 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 2.875% Notes due 2029
Trading Symbol PM29
Security Exchange Name NYSE
3.375% Notes due 2029 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 3.375% Notes due 2029
Trading Symbol PM29A
Security Exchange Name NYSE
0.800% Notes due 2031 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 0.800% Notes due 2031
Trading Symbol PM31
Security Exchange Name NYSE
3.125% Notes due 2033 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 3.125% Notes due 2033
Trading Symbol PM33
Security Exchange Name NYSE
2.000% Notes due 2036 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 2.000% Notes due 2036
Trading Symbol PM36
Security Exchange Name NYSE
1.875% Notes due 2037 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 1.875% Notes due 2037
Trading Symbol PM37A
Security Exchange Name NYSE
6.375% Notes due 2038 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 6.375% Notes due 2038
Trading Symbol PM38
Security Exchange Name NYSE
1.450% Notes due 2039 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 1.450% Notes due 2039
Trading Symbol PM39
Security Exchange Name NYSE
4.375% Notes due 2041 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 4.375% Notes due 2041
Trading Symbol PM41
Security Exchange Name NYSE
4.500% Notes due 2042 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 4.500% Notes due 2042
Trading Symbol PM42
Security Exchange Name NYSE
3.875% Notes due 2042 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 3.875% Notes due 2042
Trading Symbol PM42A
Security Exchange Name NYSE
4.125% Notes due 2043 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 4.125% Notes due 2043
Trading Symbol PM43
Security Exchange Name NYSE
4.875% Notes due 2043 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 4.875% Notes due 2043
Trading Symbol PM43A
Security Exchange Name NYSE
4.250% Notes due 2044 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 4.250% Notes due 2044
Trading Symbol PM44
Security Exchange Name NYSE
3.750% Notes due 2031  
Entity Information [Line Items]  
Title of 12(b) Security 3.750% Notes due 2031
Trading Symbol PM31B
Security Exchange Name NYSE
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