Philip Morris International Inc. (NYSE:PM) reported second quarter 2020 earnings results today.
Net revenues dropped 13.6% year-over-year to $6.6 billion. Reported EPS fell 16.1% to $1.25 while adjusted EPS fell 11.6% to $1.29.
For the full year of 2020, PMI expects reported EPS in the range of $4.84-4.99 and adjusted EPS in the range of $4.92-5.07.
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Production disruption and logistics issues continue to have a crippling effect on the industrial sector but the performance of companies, in general, has been mixed so far. Fastenal Company (NASDAQ: