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Philip Morris International Inc. (NYSE:PM), a prominent player in the tobacco industry with a market capitalization of $265 billion, announced the outcomes of its Annual Meeting of Shareholders held on May 7, 2025, as detailed in a recent 8-K filing with the Securities and Exchange Commission. According to InvestingPro analysis, the company maintains a "GOOD" overall financial health score, with particularly strong profit metrics.
During the meeting, shareholders voted on several key proposals, including the election of directors, advisory approval of executive compensation, and ratification of the company’s independent auditors for the fiscal year ending December 31, 2025.
The election of directors saw all nominated board members duly elected, with a significant majority of votes cast in favor of each director. The advisory vote on executive compensation was approved, reflecting shareholder support for the company’s executive pay structures.
Additionally, the selection of PricewaterhouseCoopers SA as the independent auditors for the upcoming fiscal year was ratified by a substantial majority of votes.
The meeting had a quorum of over 1.2 billion shares represented, out of the total 1.55 billion shares issued and outstanding as of the record date on March 14, 2025. The voting results showed strong shareholder participation and support for the proposed items on the agenda.
Philip Morris International, known for its tobacco and cigarette products, operates under the ticker symbol PM on the New York Stock Exchange. The company’s filing provides investors with insights into shareholder sentiments and the approval of corporate governance matters.
This report is based on information contained in a press release statement and the official SEC filing by Philip Morris International Inc.
In other recent news, Philip Morris International Inc. reported a robust first quarter for 2025, with earnings per share (EPS) of $1.69, surpassing the forecast of $1.60. The company’s revenue also exceeded expectations, coming in at $9.3 billion against a forecast of $9.06 billion. Analysts at UBS upgraded Philip Morris’s stock rating to Neutral from Sell, increasing the price target to $170, following the company’s strong earnings performance and revised full-year EPS guidance. Stifel analysts also raised their price target to $186, maintaining a Buy rating, citing the company’s significant organic revenue and profit growth. Additionally, Philip Morris issued $2.5 billion in new notes across four tranches, intended for general corporate purposes. The company highlighted the growth in its smoke-free product line, which now accounts for 44% of total gross profit, with ZYN shipments increasing by 53%. These developments underscore Philip Morris’s strategic focus on smoke-free products and its strong market positioning.
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