Cigarette Maker Philip Morris Q2 Earnings Beat Estimates On Strong Business Momentum
Portfolio Pulse from Shivani Kumaresan
Philip Morris International Inc (NYSE:PM) reported Q2 FY23 sales growth of 14.5% year-on-year to $8.97 billion, beating the analyst consensus of $8.65 billion. The company's cigarette and Heated Tobacco unit (HTU) shipment volume grew by 3.3% Y/Y, with HTUs growing by 26.6% and cigarettes declining by 0.4%. Revenue from smoke-free products increased 34.1% Y/Y to $3.2 billion. The company revised its FY23 adjusted EPS outlook from $6.10 - $6.22 to $6.13 - $6.22.
July 20, 2023 | 12:47 pm
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Philip Morris reported strong Q2 FY23 results, beating sales estimates and showing growth in HTU shipment volume. The company also revised its FY23 adjusted EPS outlook upwards.
Philip Morris reported strong Q2 FY23 results, with sales growth of 14.5% Y/Y beating analyst consensus. The growth in HTU shipment volume and the upward revision of the FY23 adjusted EPS outlook are positive signals for the company's performance, which could lead to a positive impact on the stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100