SWITZERLAND
Philip Morris International (PMI) reported Q4/2019 profits and sales higher than estimates.
PMI’s adjusted per-share earnings came to US$1.22, higher than the $1.21 FactSet consensus. Revenue went up to $7.71 billion from $7.4499 billion, a 2.9% increase and ahead of the $7.661 billion FactSet consensus.
PMI c.e.o. Andre Calantzopoulos said, “Although we anticipate a few temporary headwinds, notably in Indonesia, we enter 2020 with favorable momentum, and expect to deliver like-for-like, currency-neutral net revenue and adjusted diluted EPS growth this year consistent with our 2019 to 2021 compound annual growth targets of at least 5% and 8%, as well as further margin expansion.”
The expected full-year adjusted EPS now is $5.50, below the $5.60 FactSet consensus. Shares have gained 11% in the last 12 months.