On July 30, Philip Morris declined 3.08% in regular trading, trading at $191.81 per share, with turnover of $3.25 billion. The decline came amid a sector-wide selloff triggered by disappointing earnings releases from major tobacco peers.

British American Tobacco released its latest quarterly results before the market open, reporting overall performance growth at the lower end of its mid-term guidance range, with revenue growth of 3%-5% and adjusted operating profit growth of 4%-6%, while also lowering its traditional cigarette global volume forecast. Separately, Altria reported Q2 adjusted EPS of $1.48, missing the consensus estimate of $1.50, with nicotine pouch shipments declining 4.2% and discount cigarette volumes surging 67.3%, signaling pronounced consumer downtrading under economic pressure.

The broader tobacco sector saw widespread weakness, with Altria falling 8.61%, British American Tobacco down 3.28%, Universal down 2.72%, and Turning Point down 1.29%. Philip Morris itself had reported strong Q2 results on July 22, beating revenue estimates with 10.4% growth, though the company lowered its full-year EPS guidance to $8.11-$8.26, below the FactSet consensus of $8.36.

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