UPDATE: Philip Morris International Revises FY23 Outlook: Adj Diluted EPS $6.05 - $6.08 (From $5.96 - $6.05 Prior On Sept. 28) vs. $6.09 Estimate, GAAP EPS $4.95 - $4.98
Portfolio Pulse from Benzinga Newsdesk
Philip Morris International has revised its FY23 outlook, raising its adjusted diluted EPS forecast to $6.05 - $6.08, up from the previous $5.96 - $6.05. This is slightly below the $6.09 estimate. The company's GAAP EPS is expected to be between $4.95 - $4.98.

October 19, 2023 | 2:15 pm
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Philip Morris International has revised its FY23 outlook upwards, which could potentially have a positive impact on its stock price. However, the new forecast is slightly below the estimate, which could limit the upside.
Companies often see their stock prices increase when they raise their earnings forecasts, as this suggests they are performing better than previously expected. However, the fact that Philip Morris' new forecast is still below the estimate could temper investor enthusiasm and limit the potential increase in the stock price.
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