Philip Morris International Raises 2024 EPS Outlook - Quick Facts

(RTTNews) - Philip Morris International Inc. (PM) said it raised, for currency only, 2024 full-year reported and adjusted earnings per share forecast, while it reaffirmed currency-neutral adjusted earnings per share growth forecast.

The company raised its 2024 full-year reported earnings per share forecast - for currency only - to a range of $5.77 to $5.89, at prevailing exchange rates, compared to the prior outlook of $5.70 - $5.82.

Excluding a total 2024 adjustment of $0.49 per share, the forecast range for adjusted earnings per share of $6.26 to $6.38 represents a projected increase of 4.2% to 6.2% versus $6.01 in 2023. This compared to the prior estimation of $6.19 - $6.31. Analysts polled by Thomson Reuters expect the company to report earnings of $6.30 per share for fiscal year 2024. Analysts' estimates typically exclude special items.

Excluding an adverse currency impact, at prevailing exchange rates, of $0.29 per share, annual adjusted earnings per share continues to represent growth of 9.0% to 11.0%.

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