This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Philip Morris Int'l 4Q Profit Rises 11 Pct


RICHMOND, Va. (AP) â¿¿ Cigarette maker Philip Morris International Inc. said Thursday that its fourth-quarter net income increased 11 percent as it sold more cigarettes at higher prices.

The seller of Marlboro and other cigarette brands overseas said shipments rose nearly 3 percent and it grew market share in a number of key markets.

The company's quarterly performance helped increase its global market share, excluding China and the U.S., to a record 28.8 percent for the year, the company said.

Philip Morris International, based in New York and Switzerland, reported earnings of $2.1 billion, or $1.25 per share, in the three months that ended Dec. 31, up from $1.9 billion, or $1.08 per share, a year ago. On an adjusted basis, it earned $1.24 per share, beating analyst estimates of $1.22 per share.

Excluding excise taxes, revenue increased nearly 3 percent to $7.9 billion. Analysts polled by FactSet expected revenue of $8.03 billion.

Looking forward, Philip Morris International said it expects full-year adjusted earnings to between $5.68 and $5.78 per share. Analysts expect earnings of $5.79.

Its shares rose $2.13, or about 2.4 percent, to close at $89.82 Thursday.

Smokers face tax hikes, bans, health concerns and social stigma worldwide, but the effect on cigarette demand generally is less stark outside the United States. Philip Morris International has compensated for volume declines by raising prices and cutting costs.

"Our overall brand portfolio is in excellent shape with a strong complimentary presence in profitable mid- and low-priced segments. ... and the pricing environment continues to be favorable," CEO Louis C. Camilleri said in a conference call with investors.

The world's second-biggest cigarette seller behind state-controlled China National Tobacco Corp. said it shipped 233.1 billion cigarettes during the quarter.

Shipments grew 7 percent in the company's region that encompasses Eastern Europe, the Middle East and Africa, but fell about 6 percent in the European Union as the region continues to be under pressure due to high unemployment and the continent's government debt crisis. Shipments also fell about 1 percent in Latin America and Canada.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,113.85 -18.01 -0.11%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,816.5120 -22.1310 -0.46%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs