BUZZ-Philip Morris rises to record high after forecasting annual profit above estimates

Updates

Shares of Marlboro owner Philip Morris International PM.N up as much as 12% at record high of $146.78

Co forecasts annual profits above estimates after upbeat Q4 results on demand for its smoking alternatives such as ZYN nicotine pouches

Sees annual adjusted EPS between $7.04 and $7.17, above analysts' estimate of $7.03 - data compiled by LSEG

Q4 net sales of $9.71 billion beat estimates of $9.44 billion, and adjusted EPS of $1.55 surpassed expectations of $1.50

PM rose 28% in 2024