Philip Morris down after cutting annual profit forecast
PM•Quarterly revenue beats estimates
- Philip Morris posted a quarterly revenue beat, helped by resilient demand for smoke-free products following recent regulatory approval for its Zyn nicotine pouches.
- It reported Q2 revenue rose 10.4% to $11.19 billion, versus estimates of $10.63 billion compiled by LSEG.
- As of the last close, PM was up 17% year to date.
(Reporting by Sanskriti Shekhar in Bengaluru)
Shares fall after profit forecast cut
- Shares of cigarette maker Philip Morris International PM.N were down 2% at $184.29 in premarket trading.
- The company cut its annual adjusted EPS forecast, hurt by intensifying competition among tobacco products and negative currency swings.
- It now expects FY2026 EPS between $8.26 and $8.41, versus its previous forecast of $8.31 to $8.46.
