Marlboro Maker Philip Morris Highlights Strong Q3 Performance On Higher Prices, Issues Upbeat Annual Forecast
Portfolio Pulse from Vandana Singh
Philip Morris International Inc. (NYSE:PM) reported strong Q3 2024 earnings, with revenue of $9.91 billion, up 8.4% year-over-year, and adjusted EPS of $1.91, beating estimates. The company raised its fiscal year 2024 EPS outlook, driven by higher prices and increased smoke-free product volumes.
October 22, 2024 | 1:36 pm
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Philip Morris International Inc. reported strong Q3 2024 earnings, with revenue and EPS beating expectations. The company raised its fiscal year 2024 EPS outlook, driven by higher prices and increased smoke-free product volumes.
The strong Q3 earnings report, with revenue and EPS exceeding expectations, positively impacts Philip Morris's stock price. The raised fiscal year 2024 EPS outlook further supports a positive short-term price direction. The growth in smoke-free products and favorable pricing contribute to the company's strong performance.
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