Philip Morris reports revenue miss

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Philip Morris International Inc. PM, -0.98% reported 2nd 4th nett income totaling $2.17 billion, oregon $1.39 per share, up from $1.95 billion, oregon $1.25 per stock past year. Adjusted EPS of $1.57 bushed the FactSet statement for $1.55. Revenue of $7.59 cardinal was up from $6.65 cardinal past twelvemonth and beneath the FactSet statement for $7.67 billion. The company's cigaret alternate Iqos had 20.1 cardinal users astatine the extremity of the quarter. Cigarette measurement was up 3.2% to 156.1 cardinal units shipped globally. Philip Morris has authorized a caller stock repurchase programme of up to $7 billion, with a people of spending $5 cardinal to $7 cardinal implicit a three-year play that starts successful the 3rd quarter. For 2021, Philip Morris is guiding for EPS of $5.76 to $5.86 and adjusted EPS of $5.97 to $6.07. The FactSet statement is for EPS of $6.08. "The foregoing is underpinned by the presumption that, adjacent successful the lawsuit of prolonged pandemic-related restrictions, determination volition not beryllium a instrumentality to the depressed depletion levels of the 2nd 4th of 2020," the institution said successful a statement. "This presumption is accordant with the little terrible interaction connected depletion levels observed successful the 2nd fractional of 2020 arsenic COVID-19 dispersed successful a fig of markets." Philip Morris banal slipped 0.5% successful Tuesday premarket trading, but has gained 18.3% for the twelvemonth to date. The S&P 500 scale SPX, -1.59% is up 13.4% for 2021 truthful far.

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