Philip Morris Stock Hits All-Time High on Demand for Smoke-Free Options | Global News Avenue

Philip Morris International (afternoon) The stock was highly traded on Thursday after the tobacco giant released more than expected results and guidance on demand for its non-smoking alternatives.

Manufacturers of Marlboro Cigarettes and Zyn Nicotine Pouches report adjustments for the fourth quarter Earnings per share (EPS) Revenue of $1.55 increased 7% year-on-year to $9.7 billion. Both exceed the visible alpha prediction.

Sales of its smokeless products rose 9% to $3.9 billion, while sales of combustible engines rose 6% to $5.8 billion. Shipping volumes rose 2% to 193.1 million, verbal smoke-free products soared 22% to 4.6 billion, heated tobacco products rose 5% to 35.7 billion, and cigarettes 1% to 152.8 million.

Philip Morris said

CEO Jacek Olczak said Philip Morris “has a strong momentum in all categories” and that it is confident of its “smoke-free transformation and unparalleled brand portfolio Will continue to bring outstanding performance and create value to shareholders”.

The company’s full-year adjusted EPS ranged between $7.04 and $7.17, compared to the visible Alpha estimate of $7.01.

Philip Morris International shares rose 7% to $140.16 after hitting a record $146.77 earlier. Over the past year, they have increased their value by more than 50%.