Philip Morris International Raises 2024 Earnings Outlook, Expects Growth Despite Currency Impact
Portfolio Pulse from Nabaparna Bhattacharya
Philip Morris International Inc (NYSE:PM) has raised its 2024 earnings outlook, projecting reported earnings per share of $5.77 to $5.89, and adjusted diluted earnings per share of $6.26 to $6.38. The company expects net revenue growth of 7% to 8.5% and organic operating income growth of 10% to 12% for FY24. Despite adverse currency impacts, the company anticipates strong first-half results.
June 04, 2024 | 4:01 pm
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Philip Morris International has raised its 2024 earnings outlook, projecting reported earnings per share of $5.77 to $5.89 and adjusted diluted earnings per share of $6.26 to $6.38. The company expects net revenue growth of 7% to 8.5% and organic operating income growth of 10% to 12% for FY24. Despite adverse currency impacts, the company anticipates strong first-half results.
The upward revision in earnings outlook and positive revenue growth projections indicate strong performance expectations for Philip Morris International. Despite adverse currency impacts, the company's ability to project growth suggests resilience and potential for stock price appreciation in the short term.
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