Philip Morris International Inc. Presents At 2023 Morgan Stanley Global Consumer & Retail Conference; Sees FY23 Adjusted Diluted EPS $6.05-$6.08; Adjusted Diluted EPS, Excluding Currency $6.58-$6.61 Vs $6.11 Est.
Portfolio Pulse from Benzinga Newsdesk
Philip Morris International Inc. (PM) presented at the 2023 Morgan Stanley Global Consumer & Retail Conference, forecasting FY23 adjusted diluted EPS of $6.05-$6.08, excluding currency impacts of $6.58-$6.61, compared to the $6.11 estimate. The company also provided a breakdown of adjustments affecting reported and adjusted diluted EPS, including asset impairment, termination of distribution arrangements, and costs related to the Swedish Match AB offer and acquisition.
December 05, 2023 | 3:04 pm
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Philip Morris International Inc. forecasts higher-than-expected adjusted diluted EPS for FY23, indicating a positive outlook despite various adjustments.
The forecasted adjusted diluted EPS for FY23 is higher than the estimated $6.11, which is likely to be viewed positively by investors. The detailed adjustments show transparency in financials and the impact of strategic decisions, such as the Swedish Match AB acquisition. This positive earnings forecast could lead to a short-term increase in stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100