Philip Morris Tops Q4 Revenue Forecast

Global tobacco company Philip Morris International (NYSE:PM) reported fourth-quarter and full-year 2024 earnings on Thursday, Feb. 6, that exceeded analysts' consensus expectations. Adjusted EPS of $1.55 came in just ahead of the estimated $1.50 and revenue of $9.71 billion surpassed the forecasted $9.44 billion. The smoke-free portion of the business now accounts for 40% of overall revenue and around 42% of gross profit.

Overall, the quarter highlighted Philip Morris's strategic shift towards smoke-free products, supporting a strong financial performance despite lingering reliance on traditional tobacco products.

Source: Philip Morris International. Note: Analyst consensus estimates for the quarter provided by FactSet. YOY = Year over year.

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Source Fool.com