Companies and Brands
What to Watch For in Philip Morris Earnings Thursday
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Philip Morris International Inc. (NYSE: PM) is scheduled to release its most recent quarterly results before the markets open on Thursday. The consensus estimates from Thomson Reuters call for $1.27 in earnings per share (EPS) and $7.16 billion in revenue. The same period of last year reportedly had $1.27 in EPS and $7.47 billion in revenue.
In its previous quarter, the company issued guidance for the full year, calling for EPS in the range of $5.02 to $5.12. Consensus estimates are calling for $5.02 EPS and $29.25 billion in revenue.
Also in that report, the company noted cigarette and heated tobacco unit shipment volume of 201.7 billion, an increase of 0.9%, or 0.6% excluding the net impact of total estimated inventory movements. This includes cigarette shipment volume of 190.7 billion units, down by 2.8 billion units or 1.5%, and heated tobacco unit shipment volume of 11.0 billion units, up by 4.6 billion units, or 73.0%.
Excluding Wednesday’s move, Philip Morris has underperformed the broad markets, with the stock down 26% in the past 52 weeks. In just 2018 alone, the stock is down 21%.
A few analysts weighed in on Philip Morris ahead of the report:
Shares of Philip Morris were last seen up 1% at $84.60 on Wednesday, with a consensus analyst price target of $92.00 and a 52-week trading range of $76.21 to $112.89.
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