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
For more from MarketWatch: http://www.marketwatch.com/newsviewer
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
February 06, 2025 09:03 ET (14:03 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.