Philip Morris International
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Philip Morris International missed estimates on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share dropped slightly.
Gross margins grew, operating margins expanded, net margins dropped.
Philip Morris International chalked up revenue of $7.92 billion. The 11 analysts polled by S&P Capital IQ predicted sales of $8.24 billion on the same basis. GAAP reported sales were 5.3% lower than the prior-year quarter's $8.36 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 $1.38. The 16 earnings estimates compiled by S&P Capital IQ anticipated $1.39 per share. GAAP EPS of $1.32 for Q3 were 2.2% lower 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 67.4%, 140 basis points better than the prior-year quarter. Operating margin was 46.2%, 170 basis points better than the prior-year quarter. Net margin was 28.1%, 30 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $8.01 billion. On the bottom line, the average EPS estimate is $1.23.
Next year's average estimate for revenue is $31.53 billion. The average EPS estimate is $5.20.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,871 members out of 2,931 rating the stock outperform, and 60 members rating it underperform. Among 815 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 803 give Philip Morris International a green thumbs-up, and 12 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 $91.81.
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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. The Motley Fool has no positions in the stocks mentioned above. 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.