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Reuters
22-07-2025
- Business
- Reuters
Philip Morris' shares hit as ZYN falls behind high sales expectations
July 22 (Reuters) - Marlboro maker Philip Morris International (PM.N), opens new tab missed second-quarter revenue expectations on Tuesday as shipments of its ZYN nicotine pouches disappointed. Shares in the world's largest tobacco company by market capitalization dropped about 7% in New York trade even as the company raised its full-year profit guidance. PMI has been faster than its peers to transition from traditional tobacco products to smoking alternatives such as ZYN, which has grown rapidly to become PMI's star product and by far the U.S. market leader. CEO Jacek Olczak told Reuters that he wants ZYN, which is expanding internationally, to become the dominant pouch brand much like the company's Marlboro label was to cigarettes. "I want to continue to be a leader," he said, adding that in markets where the nicotine pouch category is less developed, this can be achieved in just one or two years. British American Tobacco's (BATS.L), opens new tab Velo is currently the No. 1 nicotine pouch brand globally. While PMI's total sales rose 7.1% to $10.14 billion in the second quarter, they fell short of analysts' average estimate of $10.33 billion, as per data compiled by LSEG. Volumes in PMI's nicotine pouch business rose 23.8%. However, ZYN shipments of 190 million cans were behind the 203 million expected by analysts, Bernstein's Callum Elliot said in a note, adding that PMI's strong performance in recent quarters has led investors to set high expectations. "These numbers risk being not quite 'good enough' for the higher bar that PMI is likely to be held to today," he wrote. PMI said it also saw steady growth in inhalable alternative nicotine products, notably its flagship heated tobacco device IQOS. The company said this, as well as a "resilient" performance in cigarettes and record net revenues, meant it would raise its full-year guidance. It now expects an adjusted profit of $7.43 to $7.56 per share for the year, compared with its prior forecast of $7.36 to $7.49. Its second-quarter adjusted profit of $1.95 per share beat market estimates of $1.86 per share. The company aims to generate two-thirds of its net revenues from smoking alternatives by 2030.
Economic Times
22-07-2025
- Business
- Economic Times
Cigarette-maker Philip Morris' shares slide 7% after quarterly revenue miss
ADVERTISEMENT Shares in the world's largest tobacco company by market capitalization dropped about 7% in early New York trade, even as the company raised its full-year profit guidance. PMI has been faster than its peers to transition from traditional tobacco products to smoking alternatives, such as ZYN, which has grown rapidly to become PMI's star product. Cigarettes, however, remain the main engine of PMI's business, and are in decline. PMI also faces regulatory challenges and tough economic conditions have hit consumers' wallets. While PMI's total sales rose 7.1% to $10.14 billion in the latest quarter, they fell short of analysts' average estimate of $10.33 billion, as per data compiled by LSEG. Shipment volumes in the group's cigarettes business declined 1.5%, whereas volumes in PMI's nicotine pouch business rose 23.8%. ADVERTISEMENT However, ZYN shipments of 190 million cans were behind the 203 million expected by analysts, Bernstein's Callum Elliot said in a note, adding that PMI's strong performance in recent quarters has led investors to set high expectations. Stocks Recommendations Happiest Minds Potential Upside Target 790 Current Price 635.9 Brokerage : Anand Rathi Tata Motors Potential Upside Target 830 Current Price 674.4 Brokerage : BNP Paribas Securities Explore 500+ Stock Recommendations on Unlock 500+ Stock Recos on App "These numbers risk being not quite 'good enough' for the higher bar that PMI is likely to be held to today," he wrote. ADVERTISEMENT PMI said it saw steady growth in inhalable alternative nicotine products, notably its flagship heated tobacco device IQOS, across Europe and Japan and big cities such as Jakarta, Mexico and Seoul. The company said this, as well as a "resilient" performance in cigarettes and record net revenues, meant it would raise its full-year guidance. It now expects an adjusted profit of $7.43 to $7.56 per share for the year, compared with its prior forecast of $7.36 to $7.49. ADVERTISEMENT Its second-quarter adjusted profit of $1.95 per share beat market estimates of $1.86 per share. The company aims to generate two-thirds of its net revenues from smoking alternatives by 2030. Continue Reading Philip Morris International (PMI) missed second-quarter revenue expectations on Tuesday as shipments of its ZYN nicotine pouches in the world's largest tobacco company by market capitalization dropped about 7% in early New York trade, even as the company raised its full-year profit has been faster than its peers to transition from traditional tobacco products to smoking alternatives, such as ZYN, which has grown rapidly to become PMI's star however, remain the main engine of PMI's business, and are in decline. PMI also faces regulatory challenges and tough economic conditions have hit consumers' PMI's total sales rose 7.1% to $10.14 billion in the latest quarter, they fell short of analysts' average estimate of $10.33 billion, as per data compiled by volumes in the group's cigarettes business declined 1.5%, whereas volumes in PMI's nicotine pouch business rose 23.8%.However, ZYN shipments of 190 million cans were behind the 203 million expected by analysts, Bernstein's Callum Elliot said in a note, adding that PMI's strong performance in recent quarters has led investors to set high expectations."These numbers risk being not quite 'good enough' for the higher bar that PMI is likely to be held to today," he said it saw steady growth in inhalable alternative nicotine products, notably its flagship heated tobacco device IQOS, across Europe and Japan and big cities such as Jakarta, Mexico and Seoul. The company said this, as well as a "resilient" performance in cigarettes and record net revenues, meant it would raise its full-year now expects an adjusted profit of $7.43 to $7.56 per share for the year, compared with its prior forecast of $7.36 to $ second-quarter adjusted profit of $1.95 per share beat market estimates of $1.86 per company aims to generate two-thirds of its net revenues from smoking alternatives by 2030. (You can now subscribe to our ETMarkets WhatsApp channel
Time of India
22-07-2025
- Business
- Time of India
Cigarette-maker Philip Morris' shares slide 7% after quarterly revenue miss
Philip Morris International (PMI) missed second-quarter revenue expectations on Tuesday as shipments of its ZYN nicotine pouches disappointed. Shares in the world's largest tobacco company by market capitalization dropped about 7% in early New York trade, even as the company raised its full-year profit guidance. Explore courses from Top Institutes in Please select course: Select a Course Category MBA Technology Public Policy others CXO healthcare Data Science Product Management Management Cybersecurity MCA Artificial Intelligence Finance Data Science Project Management PGDM Data Analytics Degree Operations Management Digital Marketing Healthcare Design Thinking Others Leadership Skills you'll gain: Financial Management Team Leadership & Collaboration Financial Reporting & Analysis Advocacy Strategies for Leadership Duration: 18 Months UMass Global Master of Business Administration (MBA) Starts on May 13, 2024 Get Details Skills you'll gain: Analytical Skills Financial Literacy Leadership and Management Skills Strategic Thinking Duration: 24 Months Vellore Institute of Technology VIT Online MBA Starts on Aug 14, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: One simple trick to get internet without a subscription Techno Mag Learn More Undo PMI has been faster than its peers to transition from traditional tobacco products to smoking alternatives, such as ZYN, which has grown rapidly to become PMI's star product. Cigarettes, however, remain the main engine of PMI's business, and are in decline. PMI also faces regulatory challenges and tough economic conditions have hit consumers' wallets. While PMI's total sales rose 7.1% to $10.14 billion in the latest quarter, they fell short of analysts' average estimate of $10.33 billion, as per data compiled by LSEG. Live Events Shipment volumes in the group's cigarettes business declined 1.5%, whereas volumes in PMI's nicotine pouch business rose 23.8%. However, ZYN shipments of 190 million cans were behind the 203 million expected by analysts, Bernstein's Callum Elliot said in a note, adding that PMI's strong performance in recent quarters has led investors to set high expectations. "These numbers risk being not quite 'good enough' for the higher bar that PMI is likely to be held to today," he wrote. PMI said it saw steady growth in inhalable alternative nicotine products, notably its flagship heated tobacco device IQOS, across Europe and Japan and big cities such as Jakarta, Mexico and Seoul. The company said this, as well as a "resilient" performance in cigarettes and record net revenues, meant it would raise its full-year guidance. It now expects an adjusted profit of $7.43 to $7.56 per share for the year, compared with its prior forecast of $7.36 to $7.49. Its second-quarter adjusted profit of $1.95 per share beat market estimates of $1.86 per share. The company aims to generate two-thirds of its net revenues from smoking alternatives by 2030.
