Philip Morris Lowers Annual Profit Forecast Due to Zyn Approval Delays and Competition
Philip Morris International (PM) lowered its annual profit forecast due to regulatory challenges with its Zyn nicotine pouches and increased competition in the tobacco market. The company reported a first-quarter revenue beat and strong performance in its international smoke-free segment, despite a decline in U.S. Zyn shipments.
Tickers: $PM
Topics: earnings report Philip Morris International profit forecast regulatory hurdles Zyn nicotine pouches