Philip Morris International Lowers FY18 Outlook - Quick Facts

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(RTTNews.com) - While reporting its second-quarter results today, Philip Morris International Inc. ( PM ) on Thursday lowered its fiscal 2018 reported earnings outlook. The revised outlook reflects the rightsizing this year of existing IQOS device and consumable inventories as well as a shift in previously positive currency to a headwind for the full year.

For fiscal 2018, PMI revised its outlook for reported earnings per share to a range of $5.02 to $5.12, down from the prior range of $5.25 to $5.40 per share.

Excluding an unfavorable currency impact, at prevailing exchange rates, of approximately $0.07, the forecast range represents a projected increase of about 8 percent to 10 percent versus adjusted earnings per share of $4.72 in 2017.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.15 per share for fiscal 2018. Analysts' estimates typically exclude special items.

The revised forecast reflects currency-neutral net revenue growth of approximately 3 percent to 4 percent, compared to the previously disclosed assumption of approximately 8 percent.

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This article appears in: Stocks , World Markets , Politics
Referenced Symbols: PM ,

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