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PRESS RELEASE Investor Relations : New York : +1 ( 917 ) 663 2233 Lausanne : +41 ( 0 ) 58 242 4666 Email : Investor Relations@pmi.com 2021 Second - Quarter ● Media : Lausanne : +41 ( 0 ) 58 242 4500 Email : Iro.Antoniadou@pmi.com PHILIP MORRIS INTERNATIONAL INC . REPORTS 2021 SECOND - QUARTER REPORTED DILUTED EPS OF $ 1.39 - INCLUDING CHARGES FOR SAUDI ARABIA CUSTOMS ASSESSMENTS AND EXIT COSTS AND ADJUSTED DILUTED EPS OF $ 1.57 , REFLECTING ORGANIC GROWTH OF 17.8 % ; REVISES 2021 FULL - YEAR REPORTED DILUTED EPS FORECAST TO A RANGE OF $ 5.76 TO $ 5.86 AND RAISES ORGANIC GROWTH TO AROUND 12 % TO 14 % NEW YORK , July 20 , 2021 Philip Morris International Inc. ( NYSE : PM ) today announces its 2021 second quarter results . Growth rates presented in this press release on an organic basis reflect currency - neutral underlying results . Adjusted net revenues exclude the impact related to the Saudi Arabia customs assessments . Adjustments , other calculations and reconciliations to the most directly comparable U.S. GAAP measures are included in the schedules to this press release . PHILIP MORRIS INTERNATIONAL - 2021 SECOND - QUARTER & YEAR - TO - DATE HIGHLIGHTS Reported diluted EPS of $ 1.39 , up by 11.2 % ; up by 7.2 % , excluding currency Adjusted diluted EPS of $ 1.57 , up by 21.7 % ; up by 17.8 % on an organic basis Cigarette and heated tobacco unit shipment volume up by 6.1 % ( reflecting cigarette shipment volume up by 3.2 % , and heated tobacco unit shipment volume up by 30.2 % to 24.4 billion units ) Market share for heated tobacco units in IQOS markets , excluding the U.S. , up by 1.4 points to 7.3 % Net revenues up by 14.2 % ; up by 7.9 % , excluding currency Adjusted net revenues up by 11.6 % on an organic basis Net revenues from smoke - free products accounted for 29.0 % of total adjusted net revenues Operating income up by 14.6 % ; up by 9.9 % , excluding currency Adjusted operating income up by 18.7 % on an organic basis Adjusted operating income margin of 44.1 % up by 2.0 points ; up by 2.7 points on an organic basis Total IQOS users at quarter - end estimated at approximately 20.1 million , of which approximately 14.7 million have switched to IQOS and stopped smoking New share repurchase program of up to $ 7 billion authorized , with target spending of $ 5 to $ 7 billion over a three - year period that will commence in the third quarter of 2021 Regular quarterly dividend of $ 1.20 per common share declared , representing an annualized rate of $ 4.80