Are Heated-Tobacco Products the Future of Philip Morris International? 3 Things Investors Should Watch as the Company Nears Texas Launch

Philip Morris is planning to launch IQOS in the U.S.More than any of the big three tobacco stocks, which includes Altria (MO -1.89%) and British American Tobacco (BTI -0.73%), Philip Morris International (PM -0.89%) has found success in next-gen, heated-tobacco products.In 2023, 36.4% of its adjusted-net revenue came from smoke-free products, up from 32.1% in 2022, and most of those sales came from IQOS, its heat-not-burn product, which now has 28.6 million users out of its total of 33 million smoke-free pr ...