Philip Morris points to strong momentum as it tops estimates; tobacco peers on watch
Seeking Alpha ·
Philip Morris International ( PM ) gained in Wednesday morning trading following the release of its second quarter earnings report and gave a lift to the tobacco sector in general. Revenue increased 7.6% on an organic basis to $11.2B, with both the smoke-free (+9.7% organically) and combustibles (+6.1% organically) businesses contributing
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Philip Morris reported a 7.6% increase in Q2 organic revenue to $11.2 billion, beating market expectations. Notably, the smoke-free products segment, including heated tobacco, grew by 9.7% and drove overall performance. As a result, positive investment sentiment has spread across the tobacco sector. Investors should pay attention to the simultaneous growth of traditional tobacco and new business ventures.
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- Tobacco — Philip Morris's Q2 revenue of $11.2 billion exceeded expectations, and smoke-free products grew by 9.7%, driving investment sentiment across the sector.
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