Philip Morris' Q3 Driven By Smoke-Free Products Amid Rising Market Share In Key Regions: Analyst Forecasts Growth Across IQOS And ZYN Brands [Yahoo! Finance]
Philip Morris International Inc (PM)
Last philip morris international inc earnings: 4/21 06:59 am
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Source: Yahoo! Finance
Smith reiterated a Buy rating on Philip Morris International Inc (NYSE: PM raising the price forecast to $145 from $138. Yesterday, the Marlboro maker reported third-quarter revenue of $9.91 billion, up 8.4% year over year, beating the consensus of $9.69 billion Smith writes that growth in smoke-free products is driving both organic revenue growth and margin expansion. Net revenues increased by 11.6% on an organic basis, mainly reflecting a favorable pricing variance, primarily due to higher combustible tobacco pricing, and a favorable volume/mix, mainly driven by higher smoke-free product volume. Per Smith, there is a strong argument for owning the stock, thanks to the impressive and accelerating growth of IQOS and ZYN brands, which supports robust long-term business expansion. The analyst highlighted that market share is growing steadily in important regions like Japan and Europe, with Europe's share hitting 9.5% this quarter. Most of the flavor bans in Europe are now in
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PM
Earnings
- 10/22/24 - Beat
PM
Sec Filings
- 11/21/24 - Form 8-K
- 11/12/24 - Form 25-NSE
- 11/8/24 - Form 4
- PM's page on the SEC website