Philip Morris’ Q3 Adjusted Earnings, Revenue Climb; Lifts 2023 Adjusted EPS Guidance
Philip Morris International (PM) reported Q3 adjusted earnings Thursday of $1.67 per diluted share, up from $1.53 a year earlier. Analysts polled by Capital IQ expected $1.61. Revenue for the quarter ended Sept. 30 was $9.14 billion, compared with $8.03 billion a year earlier. Analysts surveyed by Capital IQ estimated $9.21 billion. Philip Morris said it now expects full-year adjusted EPS of $6.58 to $6.61, from its previous forecast of $6.46 to $6.55, and about 8% in organic revenue growth, compared with the previous estimate of 7.5% to 8.5%. Analysts polled by Capital IQ expect a full-year adjusted EPS of $6.09.
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