Philip Morris Q3 net revenues rise 5.5% to $11.4 billion on smoke-free
Benchmarks Nifty22,849.10150.25FEATURED FUNDS★★★★★Motilal Oswal Midcap Fund Direct-Growth5Y Return18.41 % Invest NowFEATURED FUNDS★★★★★UTI Aggressive Hybrid Fund Regular Plan-Growth5Y Return8.8 % Invest NowEnter search…
Benchmarks Nifty22,849.10150.25FEATURED FUNDS★★★★★Motilal Oswal Midcap Fund Direct-Growth5Y Return18.41 % Invest NowFEATURED FUNDS★★★★★UTI Aggressive Hybrid Fund Regular Plan-Growth5Y Return8.8 % Invest NowEnter search text:
This was backed by high single-digit growth in adjusted in-market sales of smoke-free products. The combustible products segment also remained resilient, particularly in markets where smoke-free products are banned or have limited availability.
"We delivered another excellent quarter, with growing total volumes, double-digit organic operating income growth and robust margin expansion," said Jacek Olczak, Group CEO PMI.
Revenues from smoke-free products increased 4.1 per cent, while the combustible products segment recorded 6.4 per cent growth. Smoke-free products, which are now available in 110 markets, contributed over approximately 42 per cent in the year-to-date period.
On the other hand, the company's gross profit increased 6.7 per cent, supported by higher combustible product pricing and benefits from scale and product mix. Operating income rose 14.1 per cent during the quarter.
Meanwhile, reported diluted EPS of USD 2.12 declined by 4.9 per cent, mainly due to the non-cash fair value adjustment for equity security investments.
Adjusted diluted EPS grew by 5.4 per cent, or by 5.8 per cent excluding a one cent unfavorable currency impact to reach USD 2.36, marking "another quarterly all-time high," the company said in the release.
In the international smoke-free segment, net revenues increased 0.7 per cent, with organic growth of 3.4 per cent, driven by a 2.7 per cent rise in volumes.
Adjusted in-market sales growth accelerated to 8 per cent, despite a challenging comparison for heated tobacco units (HTUs) due to differences in shipment timing, particularly in Japan. In this segment, gross profit rose 0.8 per cent, reflecting organic growth of 3.3 per cent.
The company also raised its regular quarterly dividend by 8.8 per cent to USD 1.60 per share, equivalent to an annualised dividend of USD 6.40 per share. (ANI)
Add as a Reliable and Trusted News Source Add Now!
(You can now subscribe to our Economic Times WhatsApp channel)
Read More News onPhilip Morris InternationalPMItobacco industry
(You can now subscribe to our Economic Times WhatsApp channel)
Read More News onPhilip Morris InternationalPMItobacco industry
Tobacco major Philip Morris International (PMI) reported a 5.5 per cent YoY rise in net revenues to $11.4 billion in Q3, driven by growth in both smoke-free and combustible products, as per a company statement.
New Delhi: Tobacco major Philip Morris International (PMI) reported a 5.5 per cent YoY rise in net revenues to $11.4 billion in Q3, driven by growth in both smoke-free and combustible products, as per a company statement. As per the release, PMI's total shipments rose 0.6 per cent during the quarter, supported by a 2.7 per cent increase in smoke-free product (SFP) shipments across all categories.This was backed by high single-digit growth in adjusted in-market sales of smoke-free products. The combustible products segment also remained resilient, particularly in markets where smoke-free products are banned or have limited availability.
"We delivered another excellent quarter, with growing total volumes, double-digit organic operating income growth and robust margin expansion," said Jacek Olczak, Group CEO PMI.
Revenues from smoke-free products increased 4.1 per cent, while the combustible products segment recorded 6.4 per cent growth. Smoke-free products, which are now available in 110 markets, contributed over approximately 42 per cent in the year-to-date period.
On the other hand, the company's gross profit increased 6.7 per cent, supported by higher combustible product pricing and benefits from scale and product mix. Operating income rose 14.1 per cent during the quarter.
Live Events
Meanwhile, reported diluted EPS of USD 2.12 declined by 4.9 per cent, mainly due to the non-cash fair value adjustment for equity security investments.
Adjusted diluted EPS grew by 5.4 per cent, or by 5.8 per cent excluding a one cent unfavorable currency impact to reach USD 2.36, marking "another quarterly all-time high," the company said in the release.
In the international smoke-free segment, net revenues increased 0.7 per cent, with organic growth of 3.4 per cent, driven by a 2.7 per cent rise in volumes.
Adjusted in-market sales growth accelerated to 8 per cent, despite a challenging comparison for heated tobacco units (HTUs) due to differences in shipment timing, particularly in Japan. In this segment, gross profit rose 0.8 per cent, reflecting organic growth of 3.3 per cent.
The company also raised its regular quarterly dividend by 8.8 per cent to USD 1.60 per share, equivalent to an annualised dividend of USD 6.40 per share. (ANI)
Add as a Reliable and Trusted News Source Add Now!
(You can now subscribe to our Economic Times WhatsApp channel)
Read More News onPhilip Morris InternationalPMItobacco industry
(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.)
...moreless(You can now subscribe to our Economic Times WhatsApp channel)
Read More News onPhilip Morris InternationalPMItobacco industry
(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.)
...morelessStories you might be interested in
Source: Economic Times — Cons. Products ↗
Figures reflect the source report and its stated period. This article is for information and is not investment advice.
