Philip Morris International is a leading global organization in the tobacco industry, primarily known for manufacturing and distributing a variety of smokeable products, including cigarettes and heated tobacco devices
The company is committed to transforming its business by investing in reduced-risk products, promoting alternatives to traditional smoking, such as e-cigarettes and heated tobacco products that aim to deliver nicotine without the harmful effects associated with combustion. With a strong emphasis on innovation and sustainability, Philip Morris International is actively shifting its focus towards a smoke-free future, striving to create a healthier environment while still engaging its customer base.
Shares of tobacco company Philip Morris International (NYSEPM)
jumped 10.5% in the afternoon session after the company reported strong fourth-quarter results that beat analysts' revenue expectations, driven by its 9% sales growth in the Smoke-free division. Specifically, the division's growth was led by a 46% increase in unit sales of nicotine pouches like ZYN. In addition, its gross margin, EPS, and EPS guidance were higher than Wall Street's estimates. Overall, this quarter had some key positives.
Tobacco company Philip Morris International (NYSEPM) beat Wall Street’s revenue expectations in Q4 CY2024, with sales up 7.3% year on year to $9.71 billion. Its non-GAAP profit of $1.55 per share was 3.4% above analysts’ consensus estimates.
Let's have a look at what is happening on the US markets in the middle of the day on Thursday. Below you can find the top S&P500 gainers and losers in today's session.
Let's have a look at what is happening on the US markets before the opening bell on Thursday. Below you can find the top S&P500 gainers and losers in today's pre-market session.
Regarded as defensive investments, consumer staples stocks are generally safe bets in choppy markets. The flip side is that they frequently fall behind growth industries when times are good,
and this was the reality over the past six months as the sector’s flat performance trailed the S&P 500’s 16.8% gain.
It's a mixed session on Wall Street, with major indices struggling for direction as investors hold their breath ahead of a key jobs report set for Friday morning. The S&P 500 and the Nasdaq 100 edged up 0.3%, while the Dow Jones slipped 0.1% and small caps held steady.
Philip Morris shares rose after reporting strong fourth-quarter FY24 results, with 7.3% revenue growth to $9.71 billion, surpassing analyst expectations. The company's smoke-free segment contributed 40% to total revenues.
Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Keurig Dr Pepper (NASDAQKDP) and its peers.
Let’s dig into the relative performance of PepsiCo (NASDAQPEP) and its peers as we unravel the now-completed Q3 beverages, alcohol, and tobacco earnings season.
The FDA has authorized 20 ZYN nicotine pouch products from Philip Morris International (NYSEPM), marking the first approval of its kind. After a thorough review, the FDA confirmed these products meet public health standards and present lower risks than cigarettes and smokeless tobacco.
