Championing a Smoke-Free World 2023 Fourth-Quarter and Full-Year Results February 8, 2024 Introduction • A glossary of terms, including the definition for smoke-free products(a) a ...

Philip Morris International Inc. (NYSE:PM) Q4 2023 Earnings Conference Call February 8, 2024 9:00 AM ET Company Participants James Bushnell - VP, IR, and Financial Communications Jacek Olczak - Chief Executive Officer Emmanuel Babeau - Chief Financial Officer Conference Call Participants Bonnie Herzog - Goldman Sachs Gaurav Jain - Barclays Pamela Kaufman - Morgan Stanley Mirza Faham Ali Baig - UBS Callum Elliott - Bernstein Matthew Smith - Stifel Operator Good day, everyone and welcome to the Philip Morris ...

Michael M. Santiago/Getty Images News Philip Morris International Inc. (NYSE:PM) Q4 results can be described as mixed between a headline EPS miss, while revenue came in slightly above expectations. This report caps off a volatile year for the stock amid not only a tough macro environment, thinking about the impact of high-interest rates, but also the industry backdrop facing a secular decline in traditional cigarettes. That being said, the company appears to be finding success with its ongoing transformatio ...

Core Viewpoint - Philip Morris International reported disappointing fourth-quarter earnings, missing bottom-line estimates and providing lower-than-expected guidance for 2024, leading to a decline in stock price [1][2]. Financial Performance - Shipments of heated tobacco units (HTUs) increased by only 6.1%, significantly lower than the 11.6% growth of British American Tobacco and the 18% growth Philip Morris achieved in the previous quarter [2] - Overall shipments of cigarettes and HTUs decreased by 0.5%, while organic revenue rose by 8.3% to $9.05 billion, surpassing estimates of $9.01 billion [2] - Adjusted operating income increased by 8% to $2.9 billion, with adjusted earnings per share (EPS) rising by 12% to $1.36, falling short of the consensus estimate of $1.45 [3] Market Position and Product Performance - Smoke-free products accounted for 39.3% of total revenue, with Iqos gaining 1.3 percentage points of market share, reaching 9.7% [3] - Revenue from smokable tobacco rose by 5.3%, driven by a 9.9% price increase, despite a 1.9% decline in shipments [3] - Iqos has surpassed Marlboro in net revenues, establishing itself as the leading premium nicotine brand within less than 10 years of its launch [3] Future Outlook - For 2024, Philip Morris anticipates adjusted EPS to be between $6.30 and $6.44, reflecting a growth of 7% to 9%, but below the analyst consensus of $6.60 [4] - The company forecasts a 14% to 16% growth in HTUs, indicating a recovery from the slow growth experienced in the fourth quarter [4] - With a strong dividend yield of 5.7%, the recent stock pullback may present a buying opportunity for income investors [4]

For the quarter ended December 2023, Philip Morris (PM) reported revenue of $9.05 billion, up 11% over the same period last year. EPS came in at $1.36, compared to $1.39 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $8.96 billion, representing a surprise of +0.98%. The company delivered an EPS surprise of -5.56%, with the consensus EPS estimate being $1.44.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street e ...

Philip Morris International Inc. (PM) posted fourth-quarter 2023 results, wherein the bottom line fell short of the Zacks Consensus Estimate. However, the top line increased year over year and beat the Zacks Consensus Estimate. The company continued to benefit from pricing power, along with strength in IQOS and ZYN.The company entered 2024 on a solid note and expects it to be another strong year, backed by organic smoke-free net revenue and profit growthQuarter in DetailAdjusted earnings per share (EPS) cam ...

Philip Morris (PM) came out with quarterly earnings of $1.36 per share, missing the Zacks Consensus Estimate of $1.44 per share. This compares to earnings of $1.39 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.56%. A quarter ago, it was expected that this seller of Marlboro and other cigarette brands would post earnings of $1.61 per share when it actually produced earnings of $1.67, delivering a surprise of 3.73%.Over the ...

Core Viewpoint - Philip Morris International Inc. reported a decline in fourth-quarter net income and cigarette shipment volume, leading to a decrease in stock price during premarket trading [1] Financial Performance - The company earned $2.19 billion, or $1.41 per share, in the fourth quarter, down from $2.38 billion, or $1.54 per share, in the same quarter last year [1] - Adjusted profit of $1.36 per share fell short of the FactSet consensus estimate of $1.45 per share [1] - Revenue increased by 11% to $9.05 billion, aligning with analysts' estimates [1] Future Outlook - For 2024, the company expects earnings of $5.90 to $6.02 per share, which is below the analyst estimate of $6.60 per share [1]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33708 PHILIP MORRIS INTERNATIONAL INC. (Exact name of registrant as specified in its charter) Virginia 13-3435103 (State or other jurisdiction ...

Philip Morris International Inc. (PM) is likely to register top-and-bottom-line growth when it reports fourth-quarter 2023 earnings on Feb 8. The consensus mark for quarterly earnings has increased by a penny in the past 30 days to $1.44 per share, indicating growth of 3.6% from the year-ago quarter’s reported figure. PM has a trailing four-quarter earnings surprise of 5.8%, on average.The Zacks Consensus Estimate for revenues is pegged at approximately $9 billion, suggesting an increase of 9.9% from the pr ...