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Philip Morris International Inc. (PM - Free Report) is one of the leading manufacturer and distributor of cigarettes and smokeless tobacco products in approximately 180 countries in the European Union, Eastern Europe, the Middle East, Africa, Asia, Latin America, and Canada.
Philip Morris has seen soft cigarette volume trends for the past few quarters, due to a general shift away from tobacco products amid accelerating prices of cigarettes and worldwide anti-tobacco campaigns. In addition, a strengthening dollar leads to unfavorable foreign currency impact on
Philip Morris generates significant revenues from its international operations.
Investors should also note that PM has witnessed mixed earnings estimate revision during the last 30 days as some of the analysts have revised their estimate downward, while some have also upped their estimates during the period. PM does have a decent history when it comes to recent earnings reports as the stock has posted a positive surprise in three of the previous four quarters and negative surprise for one quarter, with an average surprise of 2.01%.
Currently, PM has a Zacks Rank #4 (Sell), but that could definitely change following Philip Morris’ earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Miss: PM reported lower than expected earnings. Our consensus earnings estimate called for EPS of $1.21/share, while PM reported earnings of $1.15/share. Investors should note that these figures take out stock option expenses.
Revenues Miss: PM reported revenues of $6.65 billion. This missed our consensus estimate of $6.79 billion.
Key Stats to Note: Cigarette Shipment volume went down 4.8% year over year.
Check back later for our full write up on this PM earnings report later.
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Philip Morris Q2 Earnings, Sales Miss Estimates
Philip Morris International Inc. (PM - Free Report) is one of the leading manufacturer and distributor of cigarettes and smokeless tobacco products in approximately 180 countries in the European Union, Eastern Europe, the Middle East, Africa, Asia, Latin America, and Canada.
Philip Morris has seen soft cigarette volume trends for the past few quarters, due to a general shift away from tobacco products amid accelerating prices of cigarettes and worldwide anti-tobacco campaigns. In addition, a strengthening dollar leads to unfavorable foreign currency impact on
PHILIP MORRIS Price and EPS Surprise
PHILIP MORRIS Price and EPS Surprise | PHILIP MORRIS Quote
Philip Morris generates significant revenues from its international operations.
Investors should also note that PM has witnessed mixed earnings estimate revision during the last 30 days as some of the analysts have revised their estimate downward, while some have also upped their estimates during the period. PM does have a decent history when it comes to recent earnings reports as the stock has posted a positive surprise in three of the previous four quarters and negative surprise for one quarter, with an average surprise of 2.01%.
Currently, PM has a Zacks Rank #4 (Sell), but that could definitely change following Philip Morris’ earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Miss: PM reported lower than expected earnings. Our consensus earnings estimate called for EPS of $1.21/share, while PM reported earnings of $1.15/share. Investors should note that these figures take out stock option expenses.
Revenues Miss: PM reported revenues of $6.65 billion. This missed our consensus estimate of $6.79 billion.
Key Stats to Note: Cigarette Shipment volume went down 4.8% year over year.
Check back later for our full write up on this PM earnings report later.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>