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.
Investors should also note that PM has witnessed significant downward earnings estimate revision during the last 30 days as some of the analysts have revised their estimate northward. PM has a mixed history when it comes to recent earnings reports as the stock has posted a negative surprise in two of the previous four quarters, positive surprise for one quarter and in-line results for the remaining quarter, with an average negative surprise of 3.76%.
Currently, PM has a Zacks Rank #3 (Hold), 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 $1.11/share, while PM reported earnings of $1.10/share. Investors should note that these figures take out stock option expenses.
Revenues Beat: PM reported revenues of $7.0 billion. This was higher than our consensus estimate of $6.39 billion.
Key Stats to Note: Cigarette Shipment volume went down 4.4% year over year.
Check back later for our full write up on this PM earnings report later.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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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.
Investors should also note that PM has witnessed significant downward earnings estimate revision during the last 30 days as some of the analysts have revised their estimate northward. PM has a mixed history when it comes to recent earnings reports as the stock has posted a negative surprise in two of the previous four quarters, positive surprise for one quarter and in-line results for the remaining quarter, with an average negative surprise of 3.76%.
Currently, PM has a Zacks Rank #3 (Hold), 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 $1.11/share, while PM reported earnings of $1.10/share. Investors should note that these figures take out stock option expenses.
Revenues Beat: PM reported revenues of $7.0 billion. This was higher than our consensus estimate of $6.39 billion.
Key Stats to Note: Cigarette Shipment volume went down 4.4% year over year.
Check back later for our full write up on this PM earnings report later.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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