In the final quarter of fiscal 2019, Philip Morris International (NYSE: PM) posted results that were slightly above the Wall Street expectations, nudging the stock into the green territory during pre-market trading hours.
Net revenues improved a modest 3% to $7.71 billion, despite a 5% decline in total shipment volume, helped by the solid pricing for its combustible tobacco portfolio. Analysts were targeting revenues of $7.66 billion.
On an adjusted basis, EPS fell 2.4% to $1.22, which was better than the street expectation by a cent.
The management gave a cautious outlook given the challenging market environment. “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,” CEO André Calantzopoulos said.
For FY20, the Malboro-maker expects adjusted EPS of $5.50.
The company expects a further decline of approximately 2.5% to 3.5% in cigarette and heated tobacco unit shipment volume, triggered by a weakness in international sales.
The stock has gained over 11% in the trailing 12-month period.
Autodesk, Inc. (NASDAQ: ADSK) today reported its fourth quarter financial results for the period ended January 31, 2021. Net income for the fourth quarter was $911.3 million, or $4.10 per
Beyond Meat (NASDAQ: BYND), a specialist in plant-based meat substitutes, Thursday reported a wider loss for the fourth quarter, despite an increase in revenues. The numbers also missed the consensus
Virgin Galactic (NYSE: SPCE) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The space tourism company reported zero revenue in the fourth quarter, compared to $529,000