- Philip Morris International Inc (NYSE:PM) reported second-quarter FY21 net revenue growth of 14.2% year-on-year to $7.59 billion and adjusted net revenues growth of 17.9% to $7.84 billion, versus the analyst consensus of $7.67 billion.
- Cigarette and heated tobacco unit shipment volume up by 6.1% Y/Y, with 12.7% growth in the Middle East & Africa.
- Sales from smoke-free products accounted for 29.0% of total adjusted net sales.
- Cigarette shipment for Marlboro increased 6.7%, mainly driven by Italy and Sampoerna A saw a 26.6% hike.
- Total international market share for cigarettes fell 1.3 points Y/Y to 23.8%.
- The adjusted operating margin for the quarter was 44.1%, with $3.5 billion in adjusted operating income.
- Adjusted EPS of $1.57 beat the analyst consensus of $1.55.
- The company held $4.92 billion in cash and equivalents as of June 30, 2021.
- Outlook: The company raised FY21 adjusted EPS, excluding currency, to $5.79-$5.89 from $5.75-$5.85 against the consensus estimate of $6.10.
- It lowered Reported EPS outlook to $5.76 to $5.86 from the prior outlook of $5.93 to $6.03. Adjusted EPS is expected to be $5.97 to $6.07, versus the previous outlook of $5.95 to $6.05.
- It currently expects organic net revenue growth of 6% to 7%.
- Price action: PM shares are trading higherby 0.58% at $98.50 in premarket on the last check Tuesday.
First Solar To Report Q3 Earnings On Thursday, Nov. 4, 2021 After Market Close
First Solar, Inc. (NASDAQ:FSLR) will report financial results for the third quarter ended September 30, 2021, after the market closes on Thursday, November 4, 2021. The Company will hold its quarterly conference call to
