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Feb 8 (Reuters) - Philip Morris International forecast 2024 profit below expectations and missed fourth-quarter estimates on Thursday, as heated tobacco product sales disappointed and higher costs weighed on performance.



The company had earlier said that pressures on its margins should
ease in the second half of 2023, as factors such as increased use of third-party manufacturing in countries like Indonesia and Ukraine faded.


However, fresh blows to margins emerged in the fourth quarter,
including higher costs of marketing, energy and tobacco leafs,
as well as administrative expenses, sending its adjusted operating
income margin down 2.8 percentage points to 33.7%.


Shares of PMI were down 2.3% in premarket trade.

Shipments of sticks for its flagship heated tobacco device IQOS also fell short of analyst
expectations, and PMI said they would be hit again in 2024 due to a ban on heated
tobacco flavors in the European Union.

The company's total cigarettes and heated tobacco
units (HTUs) shipment volumes dropped 0.5% in the fourth quarter, compared to a 2.2% increase in the third.


Philip Morris said it expected total cigarette, HTU and oral smoke-free product shipment volumes to be flat or grow by up to 1% in 2024, mostly driven by
smoke-free products.

It expects adjusted annual profit of between $6.32 and $6.44
per share, while analysts were expecting $6.60 per share, LSEG data showed.


The downbeat forecast contrasts with that of rival Altria Group, which
last week projected 2024 profit in line with expectations.
It is betting on higher cigarette prices and a shift to
alternative nicotine products to cushion the blow from declining demand for traditional tobacco products.


PMI reported fourth-quarter adjusted profit of $1.36 per share.

Analysts on average had expected a profit of $1.45.
(Reporting by Granth Vanaik in Bengaluru and Emma Rumney in London; Editing by
Milla Nissi)

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Sakura kissed Naruto in episode 206 of the Naruto Shippuden series.
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Word For A Person Who Likes To Give But
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Lady Gaga and her fiancé Michael Polansky headed out in Venice, Italy
on Tuesday evening ahead of the premiere of her
new film, Joker: Folie à Deux. 

The singer, 38, who stars as Harley Quinn in the upcoming thriller, wore a bright red
chiffon gown, with a pleated skirt for a Warner Bros.
dinner. 

Gaga, who has been seen flashing her engagement ring, accessorised with a black scarf and a pair of sunglasses, despite it being dark.


Michael, a tech entrepreneur, opted for a black shirt with
a pair of smart grey trousers.  

Folie à Deux will premiere at the 81st
Annual Venice Film Festival later this week, which will see Joaquin Phoenix, 49,
reprise his role as Arthur Fleck AKA Joker. 




Lady Gaga and her fiancé Michael Polansky headed out in Venice, Italy on Tuesday evening ahead
of the premiere of her new film, Joker: Folie à Deux





The singer, 38, who stars as Harley Quinn in the upcoming
thriller, wore a bright red chiffon gown, with a pleated skirt for a Warner Bros.
dinner.

It is the much-anticipated follow-up to 2019's Academy Award-winning Joker, which earned more than $1 billion at the
global box office and remains the highest-grossing R-rated film of all time.


Set for release on October 4, the second instalment finds Arthur Fleck institutionalised
at Arkham awaiting trial for his crimes as Joker.

'While struggling with his dual identity, Arthur not only stumbles upon true love, but also finds the music that's always been inside him,' a
press release shared.

Lady Gaga has been supported by her fiancé Michael in the lead up to
the thriller's premiere. 

The couple was first romantically linked around New Year's
Eve 2019 and later went Instagram official in early 2020.


Polansky is a 2006 graduate of Harvard University and runs Napster founder Sean Parker's Parker Group.


Throughout their years dating, Gaga and Polansky have attended the Super Bowl, the BAFTAs, and the Critics Choice
Awards together.

Wedding plans for the couple are underway and their legal plan is being negotiated. 




Gaga, who has been seen flashing her engagement ring, accessorised
with a black scarf and a pair of sunglasses, despite
it being dark










Folie à Deux will premiere at the 81st Annual Venice Film Festival later this week,
which will see Joaquin Phoenix, 49, reprise his role as Arthur Fleck
AKA Joker 





Lady Gaga has been supported by her fiancé Michael in the lead up to the thriller's premiere

Gaga is reportedly seeking a $900 million prenup before she walks down the aisle.

And Polansky, who has a $600 million net worth as head of The
Parker Foundation, is on board.

A source close to the couple told In Touch
that 'there are a lot of assets on both sides, and a prenup will just make everything clear.'

Gaga 'is worth $900 million, so of course there needs to be a prenup in place,' the insider said.

'And Michael understands that. He's not resisting it.'


Lady GagaJoaquin PhoenixItaly

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Juneteenth is a special day in history. President Abraham Lincoln issued the Emancipation Proclamation on January 1, 1863, but it did not reach the slaves heets in thailand states that were part of the Confederacy until much later.

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