Consumer
Philip Morris Boosted by Demand for Smoke-Free Products
- Sales of heated tobacco sticks and nicotine pouches surging
- Company still sold 143 billion cigarettes in the first quarter
Zyn nicotine pouch containers.
Photographer: Shelby Knowles/BloombergThis article is for subscribers only.
Philip Morris International Inc. raised its full-year outlook after strong sales of its heated tobacco and nicotine pouch products.
The tobacco company, whose brands include Marlboro cigarettes, IQOS heated tobacco sticks and Zyn nicotine pouches, now expects adjusted earnings per share of as much as $6.67 in 2024 on a currency neutral basis. This compares to previous guidance of up to $6.55 a share.