Philip Morris International: targets raised on record EPS
(CercleFinance.com) - Philip Morris International reported record Q3 earnings on Thursday, boosted by the acquisition of Swedish Match and better-than-expected performance from its Zyn nicotine sachets.
The group, which owns the Marlboro cigarette brand in particular, posted Q3 profit that rose 35% to $3.4bn, or $1.32 per share.
Meanwhile, sales rose 13.8% to $9.1bn, exceeding the nine-billion mark for the first time in its history.
Adjusted EPS also reached an all-time high of $1.67, above the consensus of $1.61.
The Stamford, Connecticut-based cigarette maker also raised its annual targets, stating that it now expects adjusted EPS of $6.05 to $6.08 this year.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The group, which owns the Marlboro cigarette brand in particular, posted Q3 profit that rose 35% to $3.4bn, or $1.32 per share.
Meanwhile, sales rose 13.8% to $9.1bn, exceeding the nine-billion mark for the first time in its history.
Adjusted EPS also reached an all-time high of $1.67, above the consensus of $1.61.
The Stamford, Connecticut-based cigarette maker also raised its annual targets, stating that it now expects adjusted EPS of $6.05 to $6.08 this year.
Copyright (c) 2023 CercleFinance.com. All rights reserved.