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Philip Morris Updates 2017 EPS Forecast - Quick Facts

Philip Morris International Inc. (PM) revised, for currency only, its 2017 reported earnings per share to a range of $4.78 to $4.93, at prevailing exchange rates. Excluding an unfavorable currency impact, at prevailing exchange rates, of approximately $0.14 for the full-year 2017, as well as the favorable tax item of $0.04 recorded in the first quarter of 2017, the forecast range represents a projected increase of approximately 9% to 12% versus adjusted earnings per share in 2016. The forecast anticipates net revenue growth, excluding excise taxes, of over 7%, excluding currency and acquisitions.

Excluding unfavorable currency of $0.11, second-quarter adjusted earnings per share was up by 8.7% from last year. Excluding unfavorable currency, net revenues, excluding excise taxes, were up by 7.0%. Total cigarette and heated tobacco unit shipment volume was 199.9 billion, down by 5.0%.

by RTT Staff Writer

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