Philip Morris International reported its 2024 fourth-quarter and full-year results. The company posted a diluted EPS of $4.52, or $6.01 excluding a non-cash impairment related to Canada, down from $5.02 in 2023. Adjusted diluted EPS grew by 9.3%, or 15.6% on a currency-neutral basis.

PMI saw strong growth in its smoke-free products, including IQOS and ZYN, which helped increase net revenues by 14.2% for the year. Quarterly shipments of HTU and oral smoke-free products surpassed 40 billion units. The smoke-free business now represents 40% of total revenues.

IQOS performed well, with market share gains in Japan and Europe. ZYN nicotine pouch shipments grew significantly, particularly in the U.S. and internationally. Combustible product revenues also rose by 4% due to strong pricing.

PMI declared a quarterly dividend of $1.35 per share, totaling $5.40 per share annually.