From Financial Modeling Prep: 2024-10-22 16:07:00

Philip Morris International Inc. (NYSE:PM) stock soared over 10% today after raising its full-year earnings growth outlook due to a strong third quarter. The company’s combustibles division saw a 5.2% increase in net revenue, driven by higher prices and industry demand. Shipments of ZYN nicotine pouches surged 41.4% year-over-year to 149.1 million units.

PMI’s IQOS heated tobacco division rebounded with accelerated sales growth, boosting investor confidence. Total shipment volumes rose by 2.9% to 203 billion units, while adjusted earnings per share increased by 14.4% to $1.91, surpassing analysts’ expectations of $1.81.



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