Philip Morris International
The 10-second takeaway
For the quarter ended March 31 (Q1), Philip Morris International met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded slightly. Non-GAAP earnings per share grew slightly. GAAP earnings per share grew slightly.
Gross margins were steady, operating margins shrank, net margins dropped.
Philip Morris International tallied revenue of $7.58 billion. The nine analysts polled by S&P Capital IQ expected to see a top line of $7.52 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $1.29. The 15 earnings estimates compiled by S&P Capital IQ anticipated $1.35 per share. Non-GAAP EPS of $1.29 for Q1 were 1.6% higher than the prior-year quarter's $1.27 per share. GAAP EPS of $1.28 for Q1 were 2.4% higher than the prior-year quarter's $1.25 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%, much about the same as the prior-year quarter. Operating margin was 44.7%, 110 basis points worse than the prior-year quarter. Net margin was 28.0%, 100 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $8.30 billion. On the bottom line, the average EPS estimate is $1.45.
Next year's average estimate for revenue is $32.28 billion. The average EPS estimate is $5.64.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,886 members out of 2,948 rating the stock outperform, and 62 members rating it underperform. Among 813 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 802 give Philip Morris International a green thumbs-up, and 11 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 $96.67.
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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 owns shares of Philip Morris International. 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.