Philip Morris International has had a stellar performance, with shares going strong in Q3 and hitting new heights. The company beat earnings expectations and raised its 2024 guidance for reported diluted EPS. Several advisory and wealth groups, like
Gladstone Institutional Advisory and
Cornerstone Wealth Group, have increased their holdings in the company. Despite experiencing a sales drop and closing German plants, the prediction is for
PM's outperformance to continue into the next year.
Philip Morris plans to create 500 jobs and invest $600 million in a manufacturing facility in Aurora, Colo. Their 50.6% increase in nicotine pouch sales is primarily driven by
ZYN. The company also increased its dividend by 3.8%. Despite some insider sales and the
closure of German plants due to sales drops, the strategies embraced by the company are garnering positive attention.
Philip Morris' Q3 earnings were driven by smoke-free products and the company's new product,
ZYN, is described as a 'once in a generation' offering.
Philip Morris International PM News Analytics from Tue, 23 Apr 2024 07:00:00 GMT to Sat, 02 Nov 2024 11:18:23 GMT -
Rating 9
- Innovation 9
- Information 8
- Rumor 8
