Results for: Zyn

Philip Morris International Inc. (PM) exceeded analysts’ expectations for third-quarter revenue, reporting a strong 8.4% year-over-year increase, driven by robust pricing and volume growth, particularly in its smoke-free product segment. The company also raised its fiscal year 2024 earnings outlook for the third time this year, reflecting strong momentum in its iQOS and ZYN products, as well as a steady performance in its traditional cigarette business. Goldman Sachs reiterated its Buy rating on Philip Morris, citing the positive trajectory and the company’s ability to achieve the revised guidance.

Philip Morris International (NYSE: PM) has had a strong start to 2024, with significant growth in its smoke-free portfolio driving better-than-expected first-quarter results. The company’s adjusted diluted earnings per share (EPS) and organic net revenue saw double-digit increases, surpassing market expectations. The expansion of IQOS ILUMA to 64 markets and the strong performance of ZYN, particularly in the U.S. where volumes soared by 80%, contributed to the upbeat figures.