Philip Morris raises annual profit forecast on strong demand for nicotine pouches [Yahoo! Finance Canada]
British American Tobacco Industries, p.l.c. ADR (BTI)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance Canada
The Marlboro maker has been investing to expand production capacity for ZYN, in an effort to meet its strong demand. U.S. ZYN shipments in the quarter grew 41.4% over the prior-year period, as supply-chain constraints started to ease. The company's flagship heated tobacco device, IQOS, also saw strong growth in regions such as Japan, Europe and Indonesia. Its consolidated shipment volumes for cigarettes rose 1.3% in the quarter, compared with a 0.4% rise in the preceding three months. Shares of the company were up nearly 3% in premarket trading. Philip Morris expects its 2024 adjusted earnings per share, excluding currency, to be between $6.85 and $6.91, compared with its prior range of $6.67 to $6.79. It reported revenue of $9.91 billion for the third quarter, versus analysts' estimate of $9.69 billion, according to data compiled by LSEG. Its quarterly adjusted profit of $1.91 per share also beat estimates of $1.82 per share. Last week, Philip Morris said it, along w
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BTI
Sec Filings
- 11/21/24 - Form 6-K
- 11/20/24 - Form 6-K
- 11/19/24 - Form 6-K
- BTI's page on the SEC website