Philip Morris International Inc. (NYSE:PM) has released its earnings report for the first quarter of the year.
Source: Taber Andrew Bain Via Flickr
Here are a few things to know about the Philip Morris earnings report for the first quarter of 2018.
PM reported earnings per share of $1.00 for the first quarter of the year. This is an increase over its earnings per share of 98 cents from the same time last year. It also beat out Wall Street’s earnings per share estimate on 90 cents for the quarter. Revenue reported by Philip Morris in the first quarter of 2018 was $6.90 billion. This is better than its revenue of $6.06 billion reported in the first quarter of 2017. Despite this increase, PM’s first-quarter revenue still came in below analysts’ estimate of $7.04 billion for the period. During the first quarter of the year, Philip Morris reported operating income of $2.43 billion. Operating income from the same period of the year prior was $2.41 billion. Net income reported by Philip Morris for the first quarter of 2018 was $1.65 billion. The tobacco company’s net income reported in the same quarter of the previous year was $1.66 billion. Philip Morris saw its shipment volume by region decrease in all but South & Southeast Asia during the first quarter of the year.
Philip Morris also provides its guidance for the full year of 2018 in its most recent earnings report. The company says that it is expecting earnings per share for the year to range from $5.25 to $5.40. Wall Street is looking for earnings per share of $5.27 for the full year of 2018.
PM stock was down 16% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.