On July 22, Philip Morris rose 4.02% in regular trading, trading at $197.245/share, with turnover of $99.33 million. The move was driven by a strong Q2 revenue beat and continued momentum in the company's ZYN nicotine pouch business.

Philip Morris reported Q2 revenue growth of 10.4% to $11.19 billion, significantly exceeding the analyst consensus of $10.63 billion. The company is accelerating investment in its ZYN brand in the US, having launched Zyn Ultra in June — a higher-strength wet nicotine pouch variant priced below its flagship Zyn product to defend market share amid intensifying competition. Additional dry-format variants in 1.5mg and 8mg strengths are planned for Q3.

Separately, the US FDA issued Modified Risk Tobacco Product orders for 20 ZYN products in early July, authorizing the company to market health-related claims comparing ZYN favorably to cigarettes. However, Philip Morris cut its full-year adjusted EPS guidance to $8.11–$8.26, below the FactSet estimate of $8.36, citing competitive pressures and unfavorable currency movements, marking its third downward revision this year.

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