Philip Morris International net income drops as earnings and outlook fall short

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]