This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Philip Morris International Inc. (PMI) Reports 2013 Second-Quarter Results; Revises 2013 Full-Year Reported Diluted EPS Forecast For Currency Only; Underlying Business Outlook Unchanged

Stocks in this article: PM PMI

Regulatory News:

Second-Quarter 2013

  • Reported diluted earnings per share of $1.30, down by $0.06 or 4.4% versus $1.36 in 2012
    • Excluding unfavorable currency of $0.07, reported diluted earnings per share up by $0.01 or 0.7% versus $1.36 in 2012 as detailed in the attached Schedule 13
  • Adjusted diluted earnings per share of $1.30, down by $0.06 or 4.4% versus $1.36 in 2012
    • Excluding unfavorable currency of $0.07, adjusted diluted earnings per share up by $0.01 or 0.7% versus $1.36 in 2012 as detailed in the attached Schedule 12
  • Cigarette shipment volume of 228.9 billion units, down by 3.9%
    • Cigarette shipment volume decrease of 2.6%, excluding the Philippines
  • Reported net revenues, excluding excise taxes, of $7.9 billion, down by 2.5%
    • Excluding unfavorable currency, reported net revenues, excluding excise taxes, up by 0.5%
  • Reported operating companies income of $3.4 billion, down by 7.3%
    • Excluding unfavorable currency, reported operating companies income down by 3.3%
  • Adjusted operating companies income, reflecting the items detailed in the attached Schedule 11, of $3.4 billion, down by 7.4%
    • Excluding unfavorable currency, adjusted operating companies income down by 3.4%
  • Reported operating income of $3.3 billion, down by 7.5%
  • Repurchased 16.7 million shares of the company’s common stock for $1.5 billion

Six Months Year-to-Date 2013

  • Reported diluted earnings per share of $2.58, down by $0.02 or 0.8% versus $2.60 in 2012
    • Excluding unfavorable currency of $0.14, reported diluted earnings per share up by $0.12 or 4.6% versus $2.60 in 2012 as detailed in the attached Schedule 17
  • Adjusted diluted earnings per share of $2.59, down by $0.02 or 0.8% versus $2.61 in 2012
    • Excluding unfavorable currency of $0.14, adjusted diluted earnings per share up by $0.12 or 4.6% versus $2.61 in 2012 as detailed in the attached Schedule 16
  • Cigarette shipment volume of 433.8 billion units, down by 5.1%
    • Cigarette shipment volume decrease of 2.4%, excluding the Philippines
  • Reported net revenues, excluding excise taxes, of $15.5 billion, down by 0.4%
    • Excluding unfavorable currency, reported net revenues, excluding excise taxes, up by 1.8%
  • Reported operating companies income of $6.9 billion, down by 4.0%
    • Excluding unfavorable currency, reported operating companies income down by 0.2%
  • Adjusted operating companies income, reflecting the items detailed in the attached Schedule 15, of $6.9 billion, down by 4.1%
    • Excluding unfavorable currency, adjusted operating companies income down by 0.3%
  • Reported operating income of $6.7 billion, down by 4.1%
  • Repurchased 33.4 million shares of the company’s common stock for $3.0 billion

Full-Year 2013

  • PMI revises, for prevailing exchange rates only, its 2013 full-year reported diluted earnings per share forecast to be in a range of $5.43 to $5.53, versus $5.17 in 2012
    • Excluding an unfavorable currency impact, at prevailing exchange rates, of approximately $0.31 for the full-year 2013, reported diluted earnings per share are projected to increase by approximately 10-12% versus adjusted diluted earnings per share of $5.22 in 2012, as detailed in the attached Schedule 20.

Philip Morris International Inc. (NYSE / Euronext Paris: PM) today announced its 2013 second-quarter results.

1 of 20

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs