Philip Morris International
The 10-second takeaway
For the quarter ended March 31 (Q1), Philip Morris International beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share grew significantly.
Margins increased across the board.
Philip Morris International chalked up revenue of $7.45 billion. The 11 analysts polled by S&P Capital IQ expected net sales of $7.21 billion on the same basis. GAAP reported sales were 9.7% higher than the prior-year quarter's $6.79 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $1.27. The 15 earnings estimates compiled by S&P Capital IQ anticipated $1.20 per share on the same basis. GAAP EPS of $1.25 for Q1 were 18% higher than the prior-year quarter's $1.06 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 67.2%, 100 basis points better than the prior-year quarter. Operating margin was 45.8%, 130 basis points better than the prior-year quarter. Net margin was 29.0%, 70 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $8.18 billion. On the bottom line, the average EPS estimate is $1.39.
Next year's average estimate for revenue is $32.00 billion. The average EPS estimate is $5.30.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,798 members out of 2,857 rating the stock outperform, and 59 members rating it underperform. Among 754 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 747 give Philip Morris International a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Philip Morris International is outperform, with an average price target of $85.43.
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