Philip Morris International (PM) has seen a significant jump in stock prices following its Q4 2024 earnings report. The tobacco company beat analyst estimates for adjusted earnings per share and revenue, with $1.55 per share beating expectations of $1.50 and $9.7 billion surpassing the estimate of $9.44 billion.
The strong performance was driven by growth in IQOS and ZYN products, as well as robust sales of combustibles. CEO Jacek Olczak attributed the success to the company’s “smoke-free transformation” and “unparalleled brand portfolio.”
Investors have responded positively to the news, with PM shares increasing 8.68% in pre-market trading. This is on top of a year-to-date gain of 8.83% and a 50.41% rally over the past 52 weeks.
For 2025, Philip Morris has provided guidance that it expects revenue to range from $7.04 to $7.17, representing year-over-year growth of 7.2% to 9.1%. This would see the company beat Wall Street’s adjusted EPS estimate of $7 for the year.
Analysts have given a Moderate Buy rating to PM stock, with an average price target of $135.60. The high and low price targets are $145 and $105, respectively, representing a potential 3.53% upside.
Source: https://www.tipranks.com/news/pm-earnings-philip-morris-stock-soars-on-strong-q4-beats