Philip Morris: posts fall in cigarette sales
(CercleFinance.com) - Philip Morris International's Q3 results were marked by a 2.
6% fall in net sales - a decrease of 1.5% in organic terms.
Overall, cigarette and heated tobacco unit shipment volume down by 7.6% (reflecting cigarette shipment volume down by 9.8%, and heated tobacco unit shipment volume up by 18.7% to 19.0 billion units).
Q3 adjusted diluted EPS reached 1.42 dollar, down 0.7%.
For FY 2020, the group forecasts an estimated total international industry volume decline, excluding China and the US, of approximately 7% to 8%, compared to approximately 7% to 9% assumed previously.
However, Philip Morris estimates a full-year heated tobacco unit shipment volume that keeps PMI on-track to reach its 2021 target of 90 to 100 billion units.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
6% fall in net sales - a decrease of 1.5% in organic terms.
Overall, cigarette and heated tobacco unit shipment volume down by 7.6% (reflecting cigarette shipment volume down by 9.8%, and heated tobacco unit shipment volume up by 18.7% to 19.0 billion units).
Q3 adjusted diluted EPS reached 1.42 dollar, down 0.7%.
For FY 2020, the group forecasts an estimated total international industry volume decline, excluding China and the US, of approximately 7% to 8%, compared to approximately 7% to 9% assumed previously.
However, Philip Morris estimates a full-year heated tobacco unit shipment volume that keeps PMI on-track to reach its 2021 target of 90 to 100 billion units.
Copyright (c) 2020 CercleFinance.com. All rights reserved.