Categories Consumer, Earnings

Philip Morris International beats market estimates in Q4

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. 

philip morris international Q4 2019 earnings

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. 

READ: GoPro misses Q4 estimates, full-year targets; stock sinks

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.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

FDX Earnings: FedEx Q1 adjusted earnings drop; revenue up 5%

Cargo giant FedEx Corporation (NYSE: FDX) Thursday reported a decline in first-quarter adjusted earnings, despite an increase in revenues. The company also provided guidance for fiscal 2023. Net income, adjusted

Key highlights from Darden Restaurants (DRI) Q1 2023 earnings results

Darden Restaurants, Inc. (NYSE:DRI) reported first quarter 2023 earnings results. Total sales increased 6.1% year-over-year to $2.4 billion, driven by blended same-restaurant sales growth of 4.2%. Net earnings amounted to

ACN Earnings: Key quarterly highlights from Accenture’s Q4 2022 financial results

Accenture (NYSE: ACN) reported fourth quarter 2022 earnings results today. Total revenues were $15.4 billion, up 15% year-over-year in US dollars and up 22.4% in local currency. Net income attributable

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top