Philip Morris Int'l (PM) Tops Q3 EPS by 5c

Philip Morris Int'l (NYSE: PM) reported Q3 EPS of $1.39, $0.05 better than the analyst estimate of $1.34. Revenue for the quarter came in at $7.9 billion versus the consensus estimate of $7.64 billion..

“Our results in the third quarter were slightly better than we expected, underpinned by a modest decline in volume, continued robust pricing and solid market share gains in each of our four Regions," said André Calantzopoulos, Chief Executive Officer.

“While currency headwinds have stiffened, our underlying business momentum is such that we remain confident we are on course to achieve currency-neutral adjusted diluted EPS growth for the full year 2014 of approximately 6.5% to 7.5%. This confidence was further reflected in the announced increase of our regular quarterly dividend of 6.4%."

"We are particularly excited by the commercialization, next month, of iQOS, our first product within our innovative portfolio of potentially Reduced-Risk Products that, we believe, represent one of our greatest growth opportunities. I am immensely proud of our talented employees whose exceptional work has opened this significant new chapter in our history.”

Philip Morris Int'l sees FY2014 EPS of $4.76-$4.81, versus the consensus of $5.09.

For earnings history and earnings-related data on Philip Morris Int'l (PM) click here.

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