Philip Morris International Q3 Total Cig. & HTU Shipment Volume 193.6B (+2.2% Y/Y), HTU Shipment Volume 32.5B (+18), Oral Product Shipment Volume 209M (+100%)
Portfolio Pulse from Benzinga Newsdesk
Philip Morris International reported Q3 results with total cigarette and HTU shipment volume of 193.6B, up 2.2% Y/Y. HTU shipment volume was 32.5B, up 18%, and oral product shipment volume was 209M, up 100%. Net revenues were $9.1B, up 13.8%, and smoke-free product net revenues were $3.3B, up 35.6%. Operating income was $3.4B, up 13.5%, and diluted earnings per share were $1.32, down 1.5%.
October 19, 2023 | 11:06 am
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Philip Morris reported strong Q3 results with significant growth in shipment volumes and revenues. However, diluted earnings per share decreased by 1.5%.
The strong Q3 results, particularly the growth in shipment volumes and revenues, are likely to have a positive impact on Philip Morris' stock. However, the decrease in diluted earnings per share could temper this positive impact somewhat.
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RELEVANCE 100