Philip Morris International Inc. (PM: Quote) revised full-year 2012 forecast for earnings per share.
The company revised, for prevailing exchange rates only, its full-year reported earnings per share forecast to be in a range of $5.10 to $5.20, versus $4.85 in 2011. Previously, the company expected reported earnings per share in a range of $5.20 - $5.30.
Analysts polled by Thomson Reuters expect the company to report earnings of $5.23 per share. Analysts' estimates typically exclude special items.
Excluding a forecasted total unfavorable currency impact of approximately $0.25 for the full-year 2012, earnings per share are now projected to increase by approximately 10% to 12% versus adjusted earnings per share of $4.88 in 2011. Earlier, adjusted earnings per share were projected to increase by 10 percent - 12 percent.
The company's senior management will offer its perspective on its business outlook and long-term growth strategies at a two-day investor meeting starting today at approximately 9:00 a.m. (Swiss time) at its Operations Center in Lausanne, Switzerland.
Highlights of the event include opening remarks from Louis Camilleri, Chairman of the Board and Chief Executive Officer, outlining the key drivers and sustainability of the company's strong business performance, including a forecast of solid organic growth for the full-year 2012; and the mid to long-term growth prospects for the business.
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by RTT Staff Writer
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