Philip Morris International Inc.’s (NYSE / Euronext Paris: PM) senior management will offer its perspective on the company’s 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.
PMI revises, for prevailing exchange rates only, its 2012 full-year reported diluted earnings per share forecast to be in a range of $5.10 to $5.20, versus $4.85 in 2011. Excluding a forecasted total unfavorable currency impact of approximately $0.25 for the full-year 2012, reported diluted earnings per share are projected to increase by approximately 10% to 12% versus adjusted diluted earnings per share of $4.88 in 2011.
Adjusted diluted earnings per share of $4.88 in 2011 is calculated as reported diluted earnings per share of $4.85, less a $0.02 per share benefit for discrete tax items, plus a $0.05 per share charge related to asset impairment and exit costs.This guidance excludes the impact of any potential future acquisitions, unanticipated asset impairment and exit cost charges, and any unusual events. Highlights of the event include: Opening remarks from Louis C. 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
- The global tobacco industry;
- The competitive, fiscal and regulatory landscapes;
- The roll-out of the company’s new commercial approach: and
- The company’s progress in developing Next Generation Products (NGPs), or Modified Risk Tobacco Products, including its targeted timeline for full commercialization of NGPs by 2016/2017
- The impact of recent currency movements;
- The company’s strategies to reduce working capital and to fuel further cash flow growth in the years ahead; and
- The company’s approach to continue to generously reward its shareholders through a judicious balance of dividends and share repurchases