Philip Morris Stock Hits Record High on Surging Zyn Demand

The tobacco giant raises its annual profit forecast as smoke-free products drive significant revenue growth.

Philip Morris International reported better-than-expected third-quarter earnings, with revenue reaching $9.91 billion, an 8.4% increase year-over-year.
Zyn nicotine pouch sales soared by 41% in the U.S. and 70% internationally, contributing significantly to the company's revenue.
The company raised its full-year earnings per share outlook to between $6.45 and $6.51, citing strong demand for smoke-free products.
Philip Morris plans to invest $600 million in a new Zyn production facility in Colorado to address supply chain constraints.
Despite the growth in smoke-free products, traditional cigarette shipments also saw a slight increase of 1.3% in the third quarter.