Core Insights - Altria Group, Inc. and Philip Morris International Inc. are major players in the global tobacco industry, each with unique geographic exposure and strategic focuses [1][2] - Altria has a market capitalization of approximately $98.5 billion, primarily focused on the U.S. market, while Philip Morris has a larger market cap of about $248.6 billion, reflecting its international presence and innovation in reduced-risk products [1][2] Altria's Position - Altria maintains a strong position in the U.S. tobacco market, with a 64.4% adjusted operating companies income margin in Q3 2025, indicating strong pricing power despite declining cigarette volumes [3][6] - The company is investing in smoke-free products, with on! nicotine pouch shipments reaching 133.6 million cans year-to-date, and continues to innovate with products like on! PLUS and Horizon's Ploom [4][8] - Altria increased its quarterly dividend by 3.9% to $1.06 per share in August 2025, marking its 60th dividend increase in 56 years, and expanded its share-repurchase authorization to $2 billion through 2026 [5] - Domestic cigarette shipment volumes declined by 8.2% in Q3, and Marlboro's market share decreased by 1.2 percentage points to 40.4%, highlighting ongoing challenges [6] Philip Morris' Growth - Philip Morris is increasingly focused on smoke-free products, which accounted for 41% of total net revenues and 42% of gross profit in Q3 2025, with shipments growing by 16.6% year-over-year [7][9] - Key smoke-free brands like IQOS, ZYN, and VEEV are driving revenue growth, with IQOS leading in heated tobacco globally [9] - Operational discipline and cost controls have supported margin expansion and earnings growth, while the combustible segment remains under pressure with a 3.2% decline in cigarette shipment volumes [10][11] Earnings Estimates - The Zacks Consensus Estimate for Altria's EPS indicates a year-over-year increase of approximately 6.3% for 2025 and 2.3% for 2026, remaining unchanged at $5.44 and $5.56 respectively [12] - For Philip Morris, the consensus estimate implies year-over-year growth of 14.2% for 2025 and 11.3% for 2026, with estimates slightly down to $7.50 and $8.35 [14] Stock Performance and Valuation - Over the past year, Altria's shares have increased by 17.4%, while Philip Morris has seen a stronger gain of 33.9% [15] - Altria's forward P/E ratio is 10.54, below its one-year median of 10.80, while Philip Morris' forward P/E ratio stands at 19.17, also below its median of 20.59 [16] Investment Appeal - Philip Morris offers stronger global growth and leadership in reduced-risk products, while Altria provides a compelling value proposition with higher income visibility and resilient margins [17] - Altria is viewed as a better option for income-focused investors seeking stability and consistent returns amid the industry's transition to smoke-free products [17]

Core Insights - The article provides an overview of the daily routine and leadership philosophy of Stacey Kennedy, the US CEO of Philip Morris International (PMI), highlighting her extensive experience within the company and her focus on innovation and strategic planning. Group 1: Leadership and Experience - Stacey Kennedy has been with PMI since 1995, holding various positions before becoming the US CEO in January 2023 [1][2] - She has spent half of her career in the US and half internationally, indicating a broad understanding of global markets [3] Group 2: Daily Routine - Kennedy starts her day early, focusing on personal well-being to enhance her leadership effectiveness [4][5] - Her mornings are filled with meetings and strategic planning, emphasizing the importance of innovation and urgency in the business [7][8] - The office environment is designed to foster collaboration, featuring open spaces and coffee corners [7] Group 3: Strategic Focus - PMI is actively involved in regulatory matters, working with policymakers to ensure adult smokers have access to better alternatives [8] - The company is expanding its manufacturing capabilities with a flagship factory in Owensboro, Kentucky, and a new factory in Aurora, Colorado [8] Group 4: Meeting Management - Kennedy's calendar is typically scheduled a year in advance, with fixed global management team and board meetings [9] - The company employs P.O.D.D. meetings to address issues and seize opportunities effectively [10] Group 5: Personal Insights - Kennedy emphasizes the importance of gratitude practices to maintain a positive perspective amidst a demanding job [16] - She maintains a Mediterranean-style diet and prioritizes family time, reflecting a balance between work and personal life [17][18]

The latest 13F filing from Steve Mandel’s Lone Pine Capital reveals a series of meaningful portfolio adjustments, concentrated among large-cap technology, consumer platforms, and financial services. While the fund maintained its characteristic focus on high-quality growth franchises, several significant trims and selective additions suggest a more risk-balanced stance heading into year-end. Here are some of the largest position moves.Meta Platforms Inc. (META): –342,757 shares (–20.59%)Lone Pine reduced its ...

Philip Morris International Inc. (NYSE:PM) is included among the 15 Best Blue-Chip Stocks with Growing Dividends. Ferrari Renews and Expands Partnership With Philip Morris (PM) On December 3, Ferrari N.V. said that its wholly owned Italian subsidiary, Ferrari S.p.A., has renewed and expanded its long-running partnership with Philip Morris International Inc. (NYSE:PM). The new agreement, which was signed on December 3 and will take effect on January 1, 2026, highlighted that Philip Morris International I ...

STAMFORD, CT--(BUSINESS WIRE)--Regulatory News: The Board of Directors of Philip Morris International Inc. (NYSE: PM) today declared a regular quarterly dividend of $1.47 per common share, payable on January 14, 2026, to shareholders of record as of December 26, 2025. The ex-dividend date is December 26, 2025. For more details on stock, dividends and other information, see www.pmi.com/dividend. Philip Morris International: A Global Smoke-Free Champion Philip Morris International is a leading in. ...

Core Viewpoint - Philip Morris International is positioned to expand its leadership in the tobacco industry, particularly in the smoke-free product segment, with significant growth potential in the U.S. market [1][2][10] Company Overview - Philip Morris has seen a strong performance in 2023, with shares up over 24% since January despite a 20% drop from its peak [1] - The company has successfully transitioned towards smoke-free alternatives, with these products now accounting for 41% of its revenue [3] Product Development - Philip Morris was an early entrant in the heat-not-burn market with its Iqos device and has strengthened its portfolio by acquiring Swedish Match, which owns the popular Zyn brand [3][5] - The company is awaiting FDA approval for its latest heat-not-burn device, Iqos Iluma, which could significantly enhance its market presence in the U.S. [7][8] Market Opportunity - The U.S. market represents a substantial growth opportunity, with Altria's smokeable product sales reaching $21.2 billion last year [6] - Philip Morris has a 72% success rate in converting traditional smokers to its Iqos product, indicating strong potential for market penetration [6] Sales Performance - Zyn brand sales have surged, with 204.9 million cans sold in the U.S. during the third quarter, marking a 37% increase year-over-year [9] - A successful launch of Iqos Iluma could further boost Zyn's growth and overall market share for Philip Morris in the U.S. [9][10] Financial Outlook - Philip Morris is viewed as a strong dividend stock, currently yielding 4%, with analysts projecting an annualized earnings growth rate of 11% over the long term [10]

Core Viewpoint - Philip Morris International is successfully transitioning from traditional tobacco products to next-generation alternatives, resulting in strong financial performance for investors willing to engage with this "sin stock" [2][7][14] Financial Performance - In Q3, Philip Morris reported net revenue of $10.8 billion, a 9% increase year-over-year, with attributable net income rising by almost 14% to $3.48 billion [12] - The company derived 41% of its net revenue from "smoke-free products," which also contributed a similar share to gross profit [8] - Free cash flow surged by 38% to nearly $4.1 billion, easily covering the $2.1 billion used for dividend payments [13] Market Comparison - Philip Morris has outperformed the S&P 500 index over one, three, and five-year periods, indicating strong market performance [4][5] - In contrast, competitors like Altria and British American Tobacco remain heavily reliant on traditional smokable products, with 89% and 82% of their revenues coming from such sources, respectively [9] Dividend and Growth - The current quarterly dividend payout is $1.47, yielding 3.9%, significantly higher than the S&P 500 average of 1.1% [13] - The company has managed to maintain high gross margins at 64.37% while achieving fundamental growth, showcasing its effective pivot strategy [11]

Summary of U.S. Consumer Strategy and Quantitative Research Call Industry Overview - The call focuses on the U.S. Consumer sector, specifically Consumer Discretionary and Consumer Staples, which have underperformed the market by low double-digit percentages year-to-date in 2025 [2][15]. Key Insights and Arguments 1. **Valuation Multiples**: Price to forward earnings valuation multiples for Consumer Staples appear attractive relative to the market, suggesting potential investment opportunities [2][15]. 2. **Market Dynamics**: The Consumer Staples and tech sectors are experiencing contrasting trading dynamics, with concerns about an AI bubble and its potential burst [3][16]. 3. **Economic Pressures**: Cutbacks in healthcare and SNAP benefits for low-income consumers, combined with rising inflation, may lead to an economic slowdown, while tax breaks for wealthier consumers in 2026 could sustain market strength [3][16]. 4. **Flight to Safety**: In the event of economic downturns, the Consumer Staples sector is expected to benefit from a flight to safety, particularly companies with a global presence [4][17][18]. 5. **Investment Recommendations**: Focus on higher-quality, defensive names with international exposure that are trading below historical averages. Specific sectors to watch include Soft Beverages, Household and Personal Care, and defensive Broadline Retailers [6][21]. Additional Important Points 1. **Key Themes and Catalysts**: - Tariff volatility affecting apparel and household products - GLP-1 drug uptake impacting consumer behavior - Bifurcation of consumer spending due to benefit cutbacks affecting lower-income households while higher-income households may benefit from tax breaks [5][20]. 2. **Subsector Focus**: - In Consumer Staples, companies with international exposure are preferred. - In Consumer Discretionary, names with reliable earnings performance are recommended, with caution advised for those lacking quality bias [6][21]. 3. **Upcoming Events**: Anticipated events such as the World Cup and U.S. 250th anniversary celebrations could provide additional support for certain sectors like Hotels, Resorts, and Cruise Lines [6][21]. Performance Ratings - Companies rated as Outperform include BRBR, CPB, MDLZ, MKC, and others, while CAG, GIS, HSY, and others are rated as Market-Perform. DECK and TGT are rated Underperform [9][10]. Conclusion - The U.S. Consumer sector is navigating a challenging landscape in 2025, with specific investment strategies recommended to capitalize on valuation opportunities and mitigate risks associated with economic pressures and consumer behavior shifts [12][19].

Core Viewpoint - Ferrari N.V. has renewed and strengthened its long-term partnership with Philip Morris International, marking a continuation of a collaboration that has lasted over 50 years [1][2]. Group 1: Partnership Details - The renewed agreement will take effect on January 1, 2026, designating Philip Morris International as a Premium Partner of Scuderia Ferrari HP and a Series Partner of the Ferrari Challenge Trofeo Pirelli [2].

Core Insights - Philip Morris International Inc. (PMI) has announced an expanded partnership with Scuderia Ferrari HP and Ferrari Challenge Trofeo Pirelli for the 2026 season and beyond, featuring the ZYN brand of nicotine pouches on Ferrari's Formula 1 liveries [1] - The partnership aims to innovate and challenge the status quo in the nicotine market, with a focus on smoke-free alternatives to cigarettes [1] - ZYN branding will debut on the Scuderia Ferrari HP car during the Abu Dhabi Grand Prix on December 7, 2025 [1] Company Overview - PMI is a leading international consumer goods company focused on delivering a smoke-free future and evolving its product portfolio beyond tobacco and nicotine [1] - The company's product portfolio includes cigarettes and smoke-free products such as heat-not-burn, nicotine pouches, and e-vapor products, available in over 100 markets [1] - As of June 30, 2025, PMI estimates that over 41 million legal-age consumers globally use its smoke-free products, which accounted for 41% of the company's total net revenues in the first nine months of 2025 [1] Investment in Innovation - Since 2008, PMI has invested over $14 billion in the development and commercialization of innovative smoke-free products aimed at reducing cigarette consumption [1] - The company has established world-class scientific assessment capabilities in areas such as toxicology, clinical research, and post-market studies [1] - PMI has received FDA authorizations for various products, including ZYN nicotine pouches and IQOS devices, marking significant milestones in the industry [1]