Philip Morris International Q2 Total Cig. & HTU Shipment Volume 188.4B (+3.3% Y/Y), HTU Shipment Volume 31.4B (+26.6%), Oral Product Shipment Volume 197.4M (+100%)
Portfolio Pulse from Benzinga Newsdesk
Philip Morris International reported Q2 results with total cigarette and HTU shipment volume of 188.4B, up 3.3% Y/Y. HTU shipment volume was 31.4B, up 26.6%, and oral product shipment volume was 197.4M, up 100%. Net revenues were $9.0B, up 14.5%, and smoke-free product net revenues were $3.2B, up 34.1%. Operating income was $2.6B, down 16.0%, and diluted earnings per share were $1.01, down 29.4%.
July 20, 2023 | 11:05 am
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Philip Morris reported strong Q2 results with significant increases in shipment volumes and revenues, but a decrease in operating income and diluted earnings per share.
The company's strong Q2 results, with significant increases in shipment volumes and revenues, indicate a positive performance. However, the decrease in operating income and diluted earnings per share may concern investors, potentially leading to a neutral short-term impact on the stock.
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