Philip Morris International (NYSE:PM) First Quarter 2024 Results
Key Financial Results
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Revenue: US$8.79b (up 9.7% from 1Q 2023).
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Net income: US$2.15b (up 8.0% from 1Q 2023).
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Profit margin: 24% (in line with 1Q 2023).
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EPS: US$1.38 (up from US$1.28 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Philip Morris International Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) missed analyst estimates by 2.5%.
Looking ahead, revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Global Tobacco industry.
Performance of the market in the US.
The company’s shares are up 7.8% from a week ago.
Risk Analysis
What about risks? Every company has them, and we’ve spotted 3 warning signs for Philip Morris International (of which 1 is potentially serious!) you should know about.
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