Philip Morris International
The 10-second takeaway
For the quarter ended June 30 (Q2), Philip Morris International met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly and GAAP earnings per share increased.
Gross margins improved, operating margins contracted, net margins dropped.
Philip Morris International notched revenue of $8.12 billion. The 10 analysts polled by S&P Capital IQ anticipated revenue of $8.05 billion on the same basis. GAAP reported sales were 1.8% lower than the prior-year quarter's $8.27 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.36. The 15 earnings estimates compiled by S&P Capital IQ forecast $1.35 per share. GAAP EPS of $1.36 for Q2 were 0.7% higher than the prior-year quarter's $1.35 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%, 160 basis points better than the prior-year quarter. Operating margin was 44.5%, 40 basis points worse than the prior-year quarter. Net margin was 28.5%, 60 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $8.28 billion. On the bottom line, the average EPS estimate is $1.38.
Next year's average estimate for revenue is $31.70 billion. The average EPS estimate is $5.19.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,854 members out of 2,912 rating the stock outperform, and 58 members rating it underperform. Among 812 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 803 give Philip Morris International a green thumbs-up, and nine 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 $90.95.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.