Philip Morris International’s stock soared to a record high after the company exceeded Wall Street estimates for its profit outlook, driven by robust sales of its smokeless tobacco products. The company cited significant growth in its Iqos inhalable smoke-free product and Zyn nicotine pouches, which received FDA approval in 2024.
The strong performance from Philip Morris’s smokeless products was seen as a positive sign for the tobacco industry as a whole. With more consumers turning to smokeless alternatives due to growing health concerns and increasing regulations on traditional tobacco products, companies like Philip Morris are well-positioned to capitalize on this trend.
Philip Morris’s stock has been gaining momentum in recent months, driven by investor confidence in its ability to adapt to changing consumer preferences and regulatory environments. The company’s focus on expanding its smokeless product portfolio is expected to be a key driver of growth in the coming years.
Source: https://www.marketwatch.com/story/philip-morris-stock-rises-as-outlook-tops-analyst-estimates-c3ef0258