On September 10, Philip Morris rose 3.02% in regular trading, trading at $191.61/share, with turnover of $92.96 million. The rally was driven by a combination of Zyn product line expansion and a significant upward revision to full-year earnings guidance.
Philip Morris announced it has expanded its Zyn portfolio, adding new nicotine strengths of 1.5 mg and 8 mg to the existing 3 mg and 6 mg dry pouch lineup. The company also launched Zyn Ultra, an oral nicotine pouch with higher moisture content and free of tobacco leaf, and plans to adjust its 3 mg and 6 mg dry pouch variants to 20 pouches per can in Q4 to align with consumer preferences.
On September 8, the company raised its full-year adjusted EPS guidance to $8.35-$8.50, implying 10.7%-12.7% year-over-year growth, a notable increase from the $8.11-$8.26 range issued in July. The upgraded outlook follows Zyn products receiving FDA Modified Risk Tobacco Product orders and FDA authorization for ZYN ULTRA, strengthening the product matrix and reinforcing earnings momentum.
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