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Philip Morris International Inc. (PMI) Reports 2013 Third-Quarter Results; Revises 2013 Full-Year Reported Diluted EPS Forecast To A Range Of $5.35 To $5.40

Stocks in this article: PM PMI

Total cigarette shipments of Marlboro of 75.2 billion units decreased by 2.5%, due primarily to declines in: the EU, notably France and Spain, partly offset by Italy; EEMA, primarily Russia and Ukraine, partly offset by North Africa; Asia, predominantly the Philippines, partly offset by Japan reflecting the launch of Marlboro Clear Taste in September; and Latin America & Canada, mainly Mexico. Excluding the Philippines, total cigarette shipments of Marlboro decreased by 0.3%.

Total cigarette shipments of L&M of 24.1 billion units decreased by 2.1%, driven notably by Algeria, Egypt and Turkey, partly offset by Germany and Thailand. Total cigarette shipments of Bond Street of 11.9 billion units decreased by 7.2%, due predominantly to Russia and Ukraine. Total cigarette shipments of Philip Morris of 8.8 billion units decreased by 6.6%, due primarily to Italy and the Philippines, partly offset by Argentina. Total cigarette shipments of Parliament of 11.8 billion units increased by 0.4%, driven mainly by Turkey, partly offset by Japan. Total cigarette shipments of Chesterfield of 9.2 billion units decreased by 1.9%, due primarily to Russia and Ukraine, partly offset by Germany and Turkey. Total cigarette shipments of Lark of 7.2 billion units decreased by 11.9%, due predominantly to Japan and Turkey.

Total shipment volume of OTP, in cigarette equivalent units, decreased by 1.7%, due mainly to a decline in Southern Africa, partly offset by growth in the EU, notably in Italy. Total shipment volume for cigarettes and OTP, in cigarette equivalent units, decreased by 5.5%.

PMI's market share increased in a number of key markets, including Algeria, Argentina, Austria, Belgium, Brazil, Canada, Egypt, France, Greece, Indonesia, Italy, Kazakhstan, Korea, the Netherlands, Poland, Portugal, Saudi Arabia, Spain, Thailand, Turkey, Ukraine and the United Kingdom.


2013 Third-Quarter

Net revenues of $2.3 billion increased by 7.3%. Excluding favorable currency of $118 million, net revenues increased by 1.8%, reflecting favorable pricing of $125 million, notably in Germany, France and Spain, partly offset by unfavorable volume/mix of $87 million, largely reflecting a lower total market, notably in France, Italy, Poland and Spain.

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