Philip Morris International reports strong Q2 results, raises full-year guidance, and sees growth in Zyn and heated tobacco units.
Philip Morris International (PM) reported strong Q2 results & raised full-year guidance. Volumes for Zyn and heated tobacco units increased, while traditional cigarette volumes edged up slightly. Despite losing market share, the company's organic revenue rose 9.6% to $9.5B. The stock offers solid growth and a 5% dividend yield, up 16% YTD. Investors may view this as a good opportunity to buy.
July 27, 2024
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