Philip Morris Intl FY24 Adj. EPS Outlook $6.19-$6.31 Vs. $6.37 Estimate, Q2 Adj. EPS Outlook $1.50-$1.55 Vs. $1.63 Estimate
Portfolio Pulse from Benzinga Newsdesk
Philip Morris International (PM) has updated its FY24 adjusted EPS outlook to $6.19-$6.31, below the $6.37 estimate. For Q2, the adjusted EPS outlook is set at $1.50-$1.55, also below the $1.63 estimate. The company reported a range of adjustments including asset impairment, exit costs, and charges related to the war in Ukraine, among others. The adjusted diluted EPS for 2023 is $6.01, with adjustments totaling $0.49. Excluding currency impacts, the adjusted EPS for 2024 is forecasted to be $6.55-$6.67, indicating a growth of 9.0%-11.0%.
April 23, 2024 | 11:04 am
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NEGATIVE IMPACT
Philip Morris International has revised its FY24 and Q2 adjusted EPS outlooks below analyst estimates, indicating potential challenges ahead.
The downward revision of both the FY24 and Q2 adjusted EPS outlooks below analyst estimates suggests potential operational or market challenges that Philip Morris International may be facing. This could lead to negative investor sentiment in the short term, potentially impacting the stock price negatively.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100