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Philip Morris (PM) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended September 2023, Philip Morris (PM - Free Report) reported revenue of $9.14 billion, up 13.8% over the same period last year. EPS came in at $1.67, compared to $1.53 in the year-ago quarter.
The reported revenue represents a surprise of -0.76% over the Zacks Consensus Estimate of $9.21 billion. With the consensus EPS estimate being $1.61, the EPS surprise was +3.73%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Philip Morris performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Shipment Volume - PMI Cigarettes and HTUs - Heated Tobacco Units: 32.47 billion versus 32.3 billion estimated by three analysts on average.
Shipment Volume - Europe - Cigarette: 43.37 billion versus the two-analyst average estimate of 43.51 billion.
Cigarettes and Heated Tobacco Units Volume - Europe: 56.52 billion versus the two-analyst average estimate of 56.99 billion.
Cigarettes and Heated Tobacco Units Volume - Americas: 15.56 billion compared to the 16.58 billion average estimate based on two analysts.
Net Revenues by Geography- SSEA, CIS & MEA: $2.78 billion compared to the $2.67 billion average estimate based on three analysts. The reported number represents a change of +183.4% year over year.
Net Revenues by Geography- Europe: $3.67 billion versus the three-analyst average estimate of $3.59 billion. The reported number represents a year-over-year change of +19.5%.
Net Revenues by Geography- Swedish Match: $568 million compared to the $653.79 million average estimate based on three analysts.
Net Revenues by Geography- Americas: $478 million versus the three-analyst average estimate of $491.22 million. The reported number represents a year-over-year change of +0.8%.
Net Revenues by Geography- EA, AU & PMI DF: $1.57 billion versus the three-analyst average estimate of $1.47 billion. The reported number represents a year-over-year change of +30.9%.
Net Revenues- Wellness and Healthcare: $75 million versus the three-analyst average estimate of $66.58 million.
Net Revenues- Total combustible Tobacco: $5.83 billion versus $5.77 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +3.9% change.
Net Revenues- Total Smoke-free excl. W&H: $3.23 billion versus $3.21 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +36.9% change.
Shares of Philip Morris have returned -4.6% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Philip Morris (PM) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2023, Philip Morris (PM - Free Report) reported revenue of $9.14 billion, up 13.8% over the same period last year. EPS came in at $1.67, compared to $1.53 in the year-ago quarter.
The reported revenue represents a surprise of -0.76% over the Zacks Consensus Estimate of $9.21 billion. With the consensus EPS estimate being $1.61, the EPS surprise was +3.73%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Philip Morris performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Shipment Volume - PMI Cigarettes and HTUs - Heated Tobacco Units: 32.47 billion versus 32.3 billion estimated by three analysts on average.
- Shipment Volume - Europe - Cigarette: 43.37 billion versus the two-analyst average estimate of 43.51 billion.
- Cigarettes and Heated Tobacco Units Volume - Europe: 56.52 billion versus the two-analyst average estimate of 56.99 billion.
- Cigarettes and Heated Tobacco Units Volume - Americas: 15.56 billion compared to the 16.58 billion average estimate based on two analysts.
- Net Revenues by Geography- SSEA, CIS & MEA: $2.78 billion compared to the $2.67 billion average estimate based on three analysts. The reported number represents a change of +183.4% year over year.
- Net Revenues by Geography- Europe: $3.67 billion versus the three-analyst average estimate of $3.59 billion. The reported number represents a year-over-year change of +19.5%.
- Net Revenues by Geography- Swedish Match: $568 million compared to the $653.79 million average estimate based on three analysts.
- Net Revenues by Geography- Americas: $478 million versus the three-analyst average estimate of $491.22 million. The reported number represents a year-over-year change of +0.8%.
- Net Revenues by Geography- EA, AU & PMI DF: $1.57 billion versus the three-analyst average estimate of $1.47 billion. The reported number represents a year-over-year change of +30.9%.
- Net Revenues- Wellness and Healthcare: $75 million versus the three-analyst average estimate of $66.58 million.
- Net Revenues- Total combustible Tobacco: $5.83 billion versus $5.77 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +3.9% change.
- Net Revenues- Total Smoke-free excl. W&H: $3.23 billion versus $3.21 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +36.9% change.
View all Key Company Metrics for Philip Morris here>>>Shares of Philip Morris have returned -4.6% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.