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TheStreet Open House

Philip Morris International Inc. (PMI) Reports 2012 Second-Quarter Results; Reaffirms 2012 Full-Year Reported Diluted EPS

Stocks in this article: PMPMI

Regulatory News:

Second-Quarter 2012

  • Reported diluted earnings per share of $1.36, up by 0.7%, or by 8.1% excluding currency, versus $1.35 in 2011, as detailed in the attached Schedule 13
    • Excluding currency and the 2011 earnings per share hurdle of $0.10 related to Japan, reported diluted EPS up by 16.8%
  • Adjusted diluted earnings per share of $1.36, up by 1.5%, or by 9.0% excluding currency, versus $1.34 in 2011, as detailed in the attached Schedule 12
    • Excluding currency and the aforementioned Japan hurdle of $0.10, adjusted diluted EPS up by 17.7%
  • Cigarette shipment volume down by 1.2%, excluding acquisitions
    • Cigarette shipment volume up by 1.4% excluding acquisitions and the 6.3 billion units associated with the 2011 Japan hurdle
  • Reported net revenues, excluding excise taxes, down by 1.8% to $8.1 billion, or up by 2.9% excluding currency and acquisitions
  • Reported operating companies income down by 2.7% to $3.7 billion, or up by 3.4% excluding currency and acquisitions
  • Adjusted operating companies income, which reflects the items detailed in the attached Schedule 11, down by 2.5% to $3.7 billion, or up by 3.5% excluding currency and acquisitions
  • Operating income down by 2.9% to $3.6 billion
  • Repurchased 17.8 million shares of its common stock for $1.5 billion
  • Announced, during the quarter, a new three-year share repurchase program of $18 billion expected to commence August 1, 2012
  • Reaffirms, at prevailing exchange rates, 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.

June Year-to-Date

  • Reported diluted earnings per share of $2.60, up by 7.4%, or by 12.4% excluding currency, versus $2.42 in 2011, as detailed in the attached Schedule 17
    • Excluding currency and the 2011 earnings per share hurdle of $0.10 related to Japan, reported diluted EPS up by 17.2%
  • Adjusted diluted earnings per share of $2.61, up by 8.3%, or by 13.3% excluding currency, versus $2.41 in 2011, as detailed in the attached Schedule 16
    • Excluding currency and the aforementioned Japan hurdle of $0.10, adjusted diluted EPS up by 18.2%
  • Cigarette shipment volume up by 1.8%, excluding acquisitions
    • Cigarette shipment volume up by 3.3% excluding acquisitions and the 6.3 billion units associated with the 2011 Japan hurdle
  • Reported net revenues, excluding excise taxes, up by 3.3% to $15.6 billion, or by 6.5% excluding currency and acquisitions
  • Reported operating companies income up by 4.5% to $7.2 billion, or by 8.3% excluding currency and acquisitions
  • Adjusted operating companies income, which reflects the items detailed in the attached Schedule 15, up by 4.5% to $7.2 billion, or by 8.3% excluding currency and acquisitions
  • Operating income up by 4.3% to $7.0 billion

Philip Morris International Inc. (NYSE / Euronext Paris: PM) today announced its 2012 second-quarter results.

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