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Philip Morris International Inc (NYSE: PM) reported a 1st-quarter FY23 sales boost of 3.5% year-on-yr to $8.02 billion, lacking the analyst consensus estimate of $8.11 billion.
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Cigarette and Heated Tobacco device cargo quantity in Q1 fell by 1.1% Y/Y, reflecting a 3.1% decline in cigarette shipments.
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Marlboro cigarette shipment volume diminished by 2.4%.
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Profits from smoke-free of charge items accounted for 34.9% of overall web revenues.
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Modified functioning margin for the quarter compressed from 43.6% to 37.3%, with $3 billion in modified working profits.
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Altered EPS of $1.38 beat the consensus of $1.34.
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The firm held $2.4 billion in hard cash and equivalents as of March 31, 2023.
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Next the termination of a distribution arrangement in the Middle East, PMI recorded a pre-tax cost of $80 million in Q1.
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Outlook: Philip Morris expects FY23 modified EPS of $6.10 – $6.22 vs . an estimate of $6.34.
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It sees FY23 organic and natural revenue advancement of 7% – 8.5%.
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Price tag Motion: PM shares are investing reduced by 4.96% at $96.48 on the final test Thursday.
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Image through Wikimedia Commons
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