Philip Morris International Inc. (PM - Free Report) , one of the largest tobacco companies, came out with first-quarter 2018 results, wherein adjusted earnings of $1.00 surpassed the Zacks Consensus Estimate of 88 cents and also surged 2% from the prior-year quarter.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2018 has increased by a penny in the last 30 days. In the trailing four quarters, excluding the quarter under review, the company missed the Zacks Consensus Estimate by an average of 6.1%.
Revenues: Philip Morris generated net sales of $6,896 million that jumped 13.7% year over year. Top-line however missed the Zacks Consensus Estimate of $7,024 million.
Philip Morris International Inc. Price, Consensus and EPS Surprise
Key Events: During the quarter the company declared a quarterly dividend of $1.07.
Outlook: Management has updated its 2018 earnings view owing to anticipated tax benefits. It now anticipates earnings for the fiscal in the range of $5.25-5.40. Excluding a favorable currency impact, the company anticipates adjusted earnings growth of nearly 8-11%. Further, this guidance takes into consideration currency neutral revenue growth of 8%.
Zacks Rank: Currently, Philip Morris has a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
Check back later for our full write up on Philip Morris’s earnings report!
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Philip Morris International Inc. (PM - Free Report) , one of the largest tobacco companies, came out with first-quarter 2018 results, wherein adjusted earnings of $1.00 surpassed the Zacks Consensus Estimate of 88 cents and also surged 2% from the prior-year quarter.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2018 has increased by a penny in the last 30 days. In the trailing four quarters, excluding the quarter under review, the company missed the Zacks Consensus Estimate by an average of 6.1%.
Revenues: Philip Morris generated net sales of $6,896 million that jumped 13.7% year over year. Top-line however missed the Zacks Consensus Estimate of $7,024 million.
Philip Morris International Inc. Price, Consensus and EPS Surprise
Key Events: During the quarter the company declared a quarterly dividend of $1.07.
Outlook: Management has updated its 2018 earnings view owing to anticipated tax benefits. It now anticipates earnings for the fiscal in the range of $5.25-5.40. Excluding a favorable currency impact, the company anticipates adjusted earnings growth of nearly 8-11%. Further, this guidance takes into consideration currency neutral revenue growth of 8%.
Zacks Rank: Currently, Philip Morris has a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
Check back later for our full write up on Philip Morris’s earnings report!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
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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