Philip Morris International issued a profit outlook topping Wall Street analyst expectations, sending shares of the tobacco-products company higher in premarket trading.
Philip Morris said it expects to generate adjusted full-year 2025 earnings of $7.04 a share to $7.17 a share, ahead of the FactSet consensus estimate of $6.99 a share. Adjusted additionally for expected currency impact, Philip Morris expects 2025 earnings of $7.26 a share to $7.39 a share.
For its fourth quarter of 2024, Philip Morris reported adjusted earnings of $1.55 a share, ahead of the analyst estimate of $1.50 a share. Revenue of $9.71 billion topped the analyst estimate of $9.44 billion.
Philip Morris cited growth in its Iqos, its inhalable smoke-free product, as well as Zyn nicotine pouches, which won FDA authorization in 2024.
"We hope our other pending FDA applications will be accelerated," Chief Executive Jacek Olczak said in a prepared statement.
Philip Morris International said quarterly shipments of heated-tobacco units (HTU) and oral smoke-free products in its smoke-free business exceeded 40 billion units for the first time for the year, as its smoke-free business booked a 14% revenue growth in 2024.
-Steve Gelsi
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(END) Dow Jones Newswires
February 06, 2025 09:03 ET (14:03 GMT)
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