On July 28, Philip Morris rose 3.06% in regular trading, trading at $205.95/share, with turnover of $280 million. The stock continues its upward trajectory following a strong Q2 earnings report released last week.
Philip Morris reported Q2 revenue growth of 10.4% to $11.19 billion, significantly beating analyst expectations of $10.63 billion. The company is accelerating investment in its Zyn nicotine pouch business in the US market, having launched Zyn Ultra in June and planning additional product variants in Q3. The FDA recently issued Modified Risk Tobacco Product orders for 20 ZYN variants, allowing the company to market reduced-risk claims versus cigarettes.
The broader tobacco sector showed strength, with Altria up 4.93%, British American Tobacco up 2.74%, and Universal up 2.78%. While the company lowered its full-year adjusted EPS guidance to $8.11-$8.26 versus the FactSet estimate of $8.36, citing currency headwinds and intensified competition, the revenue beat and Zyn growth strategy continue to support investor sentiment.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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