Philip Morris' Raised Guidance Suggests Good Visibility: Goldman Sachs Analyst

On Tuesday, Philip Morris International Inc. PM reported third-quarter revenue of $9.91 billion, up 8.4$9.69 billion.Net revenues increased by 11.6% on an organic basis, mainly reflecting a favorable pricing variance, primarily due to higher combustible tobacco pricing, and a favorable volume/mix, mainly driven by higher smoke-free product volume.Outlook: Philip Morris raised its fiscal year 2024 adjusted EPS outlook to $6.45-$6.51 from prior guidance of $6.33 –$6 ...