Overview

• Second-quarter revenue reached $10.14 billion versus the $10.33 billion consensus estimate
• Cigarette shipment volumes fell 1.5% year-over-year while oral smoke-free product volumes rose 23.8%
• The company recorded its first quarterly drop in ZYN nicotine pouch shipments
• Shares slid about 5% in premarket trading following the earnings release
• Full-year adjusted EPS guidance was lifted to $7.43–$7.56 as PMI targets half of sales from smoking alternatives by end-2025