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Philip Morris Boosts 2018 Profit View - Quick Facts

Philip Morris International Inc. (PM) on Thursday increased its fiscal 2018 reported earnings guidance, primarily to reflect a lower effective tax rate.

For the full year, the company now projects reported earnings in a range of $5.25 to $5.40 per share, up from the prior guidance range of $5.20 to $5.35 per share. It now represents about 35 to 39 percent increase at prevailing exchange rates.

Excluding a favorable currency impact, at prevailing rates, of about $0.16 per share, the reported earnings per share range represents an increase of about 8 to 11 percent from last year, compared to the previous range of 7 to 10 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.27 per share for fiscal 2018. Analysts' estimates typically exclude special items.

The 2018 forecast assumes currency-neutral net revenue growth of about 8 percent, operating cash flow of over $9.0 billion, capital expenditures of about $1.7 billion, effective tax rate of about 26 percent and no share repurchases.

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