5 Best Bear Market Stocks to Invest In Right Now

4. Philip Morris International Inc. (NYSE:PM)

Number of Hedge Fund Holders: 82

On April 22, Reuters reported that Philip Morris International Inc. (NYSE:PM) lowered its annual profit forecast amid regulatory uncertainty around its Zyn nicotine pouches and rising competition in tobacco products. The company has been pushing to move beyond cigarettes. At the same time, it is facing stronger competition from alternatives such as British American Tobacco’s Velo, along with delays in getting approval for new Zyn products.

CFO Emmanuel Babeau said a complex regulatory environment continues to slow innovation and the transition of adult smokers to smoke-free products. Philip Morris now expects full-year adjusted EPS of $8.36 to $8.51, down from its earlier forecast of $8.38 to $8.53. The midpoint is about $0.04 above analysts’ expectations, based on data compiled by LSEG.

The company added that it has included a small impact from the Middle East conflict in its outlook, but does not expect any prolonged effect. Shares rose about 6% after strength in its international smoke-free business helped deliver a first-quarter beat. Quarterly revenue came in at $10.15 billion, ahead of estimates of $9.91 bilion. Adjusted EPS was $1.96, above expectations of $1.83. US Zyn shipments declined 23.5%, which the company linked mainly to inventory adjustments by distributors and retailers. In contrast, shipments for its international smoke-free segment increased 11.9%.

Philip Morris International Inc. (NYSE:PM) is an international tobacco company. Its portfolio includes cigarettes and smoke-free products. The smoke-free business also covers wellness and healthcare products, along with consumer accessories such as lighters and matches.