Bulletin
Investor Alert

New York Markets Open in:

Market Pulse Archives

Feb. 6, 2020, 7:20 a.m. EST

Philip Morris profit and sales top estimates but tobacco company offers soft guidance

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Philip Morris International Inc. (PM)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Ciara Linnane

Philip Morris International Inc. /zigman2/quotes/201611010/composite PM -0.18% said Thursday it had net income of $1.616 billion, or $1.04 a share, in the fourth quarter, down from $1.910 billion, or $1.23 a share, in the year-earlier period. The maker of Marlboro cigarettes said adjusted per-share earnings came to $1.22, ahead of the $1.21 FactSet consensus. Revenue rose 2.9% to $7.713 billion from $7.499 billion, also ahead of the $7.661 billion FactSet consensus. "Although we anticipate a few temporary headwinds, notably in Indonesia, we enter 2020 with favorable momentum, and expect to deliver like-for-like currency-neutral net revenue and adjusted diluted EPS growth this year consistent with our 2019 to 2021 compound annual growth targets of at least 5% and 8%, as well as further margin expansion," Chief Executive Andre Calantzopoulos said in a statement. The company is now expecting full-year adjusted EPS of $5.50, below the $5.60 FactSet consensus. Shares were slightly higher premarket, but have gained 11% in the last 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.64% has gained 22%.

/zigman2/quotes/201611010/composite
US : U.S.: NYSE
$ 76.96
-0.14 -0.18%
Volume: 4.21M
Aug. 5, 2020 4:00p
P/E Ratio
16.49
Dividend Yield
6.08%
Market Cap
$120.07 billion
Rev. per Employee
$382,519
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,327.77
+21.26 +0.64%
Volume: 2.45B
Aug. 5, 2020 5:27p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.