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00:02Philip Morris cut its 2026 annual profit forecast, citing margin pressure from higher energy costs
00:09linked to the Iran conflict and currency swings, according to Reuters.
00:13The company now expects adjusted earnings per share of $8.31 to $8.46,
00:21representing growth of 10.2% to 12.2% from 2025 levels.
00:27That falls below its prior forecast of $8.36 to $8.51 and analyst expectations of $8.41 per share.
00:39CEO Jacek Olchak said the company could offset some higher costs,
00:44but warned that price increases are not always fully absorbed in competitive markets.
00:49Philip Morris also announced its new Zinn Ultra product will be priced lower per pouch
00:53than its flagship range to improve competitiveness.
00:57Shares fell about 1% in Tuesday's pre-market trading.
01:00For all things money, visit Benzinga.com.
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