Traders Buying Philip Morris (PM) Shares Following Solid Q4 Report
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Shares of Philip Morris International, Inc. (NYSE: PM) have surged more than 2 percent following the mid-day release of the company's fourth-quarter results.
The company reported Q4 EPS of $1.10, $0.01 better than the analyst estimate of $1.09, on revenue of $18.88 billion compared to $17.8 billion in the same quarter last year.
PM is experiencing the most growth out of its Asia segment as total sales rose 25.7 percent year over year. The company Eastern Europe, Middle East & Africa segment was the second strongest performer as sales increased 5 percent.
Gross profit for the quarter rose 9.8 percent to 4.979 billion.
Philip Morris sees FY2012 EPS of $5.25-$5.35, versus the consensus of $5.19.
“While admittedly lifted by Japan, our 2011 results were simply superb in each and every aspect. Every single one of our top ten brands recorded volume growth, we surpassed all of our key financial performance measures and grew our global market share for the fourth year in a row. Our total shareholder return in 2011 was an impressive 39.8%, substantially outperforming the broader market indices,” said Louis C. Camilleri, Chairman and Chief Executive Officer.
“Economic uncertainty, currency volatility and the year-on-year comparison of our business performance in Japan are obvious challenges in 2012. We nevertheless begin the year with solid business momentum, confident in our ability to meet our constant currency financial growth targets, and as steadfast as ever in our commitment to reward our shareholders with superior returns over the long-term.”
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The company reported Q4 EPS of $1.10, $0.01 better than the analyst estimate of $1.09, on revenue of $18.88 billion compared to $17.8 billion in the same quarter last year.
PM is experiencing the most growth out of its Asia segment as total sales rose 25.7 percent year over year. The company Eastern Europe, Middle East & Africa segment was the second strongest performer as sales increased 5 percent.
Gross profit for the quarter rose 9.8 percent to 4.979 billion.
Philip Morris sees FY2012 EPS of $5.25-$5.35, versus the consensus of $5.19.
“While admittedly lifted by Japan, our 2011 results were simply superb in each and every aspect. Every single one of our top ten brands recorded volume growth, we surpassed all of our key financial performance measures and grew our global market share for the fourth year in a row. Our total shareholder return in 2011 was an impressive 39.8%, substantially outperforming the broader market indices,” said Louis C. Camilleri, Chairman and Chief Executive Officer.
“Economic uncertainty, currency volatility and the year-on-year comparison of our business performance in Japan are obvious challenges in 2012. We nevertheless begin the year with solid business momentum, confident in our ability to meet our constant currency financial growth targets, and as steadfast as ever in our commitment to reward our shareholders with superior returns over the long-term.”
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