Philip Morris rises on high Zyn demand
Philip Morris stock jumped after the company reported better-than-expected earnings, driven by high demand for its Zyn nicotine pouches.
Philip Morris reported $9.7 billion in sales, compared to the $9.4 billion analysts polled by FactSet were expecting. It also posted earnings per share of $1.55, compared to the $1.50 the Street expected.
Oral products shipments increased by 33.4% in the last three months of 2024, predominantly driven by Zyn nicotine pouch sales in the US. In January, the Food and Drug Administration gave Philip Morris a license to market Zyn in the US.
Shares were recently up 7.8%, which would be the company’s eighth-best trading day since it was spun off from Altria in 2008.
Philip Morris also forecast adjusted annual earnings per share between $7.04 and $7.17, solidly above the $6.99 consensus analyst estimate.
Philip Morris also forecast adjusted annual earnings per share between $7.04 and $7.17, solidly above the $6.99 consensus analyst estimate.
