Skip to main content

Market Overview

Philip Morris Beats On Q2 Earnings; Lifts FY21 Adjusted EPS Guidance

Philip Morris Beats On Q2 Earnings; Lifts FY21 Adjusted EPS Guidance
  • Philip Morris International Inc (NYSE: PMreported second-quarter FY21 net revenue growth of 14.2% year-on-year to $7.59 billion and adjusted net revenues growth of 17.9% to $7.84 billion, versus the analyst consensus of $7.67 billion.
  • Cigarette and heated tobacco unit shipment volume up by 6.1% Y/Y, with 12.7% growth in the Middle East & Africa.
  • Sales from smoke-free products accounted for 29.0% of total adjusted net sales.
  • Cigarette shipment for Marlboro increased 6.7%mainly driven by Italy and Sampoerna A saw a 26.6% hike.
  • Total international market share for cigarettes fell 1.3 points Y/Y to 23.8%.
  • The adjusted operating margin for the quarter was 44.1%, with $3.5 billion in adjusted operating income.
  • Adjusted EPS of $1.57 beat the analyst consensus of $1.55.
  • The company held $4.92 billion in cash and equivalents as of June 30, 2021.
  • Outlook: The company raised FY21 adjusted EPS, excluding currency, to $5.79-$5.89 from $5.75-$5.85 against the consensus estimate of $6.10.
  • It lowered Reported EPS outlook to $5.76 to $5.86 from the prior outlook of $5.93 to $6.03. Adjusted EPS is expected to be $5.97 to $6.07, versus the previous outlook of $5.95 to $6.05.
  • It currently expects organic net revenue growth of 6% to 7%.
  • Price action: PM shares are trading higher by 0.58% at $98.50 in premarket on the last check Tuesday.

Related Articles (PM)

View Comments and Join the Discussion!

Posted-In: BriefsEarnings News Guidance

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at