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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.

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