Philip Morris (NYSE:PM) earnings for the tobacco company’s fourth quarter of 2019 have PM stock up on Thursday. This is thanks to its adjusted EPS of $1.22, which is just above Wall Street’s estimate of $1.21. Revenue of $7.71 billion also beats out analysts’ estimates of $7.66 billion.
Here’s what else is worth mentioning from the most recent Philip Morris earnings report.
- Adjusted per-share earnings are down 2.4% from $1.25 during the fourth quarter of 2019.
- Revenue comes in 2.9% higher than the $7.49 billion reported in the same period of the year prior.
- Philip Morris reported operating income for the quarter coming in at $2.51 billion
- That’s a 7.04% drop from its operating income of $2.70 billion reported during the same time last year.
André Calantzopoulos, Chief Executive Officer of Philip Morris, spoke highly of the company’s results:
“2019 marked a year of strong underlying business performance for PMI, driven by broad-based growth for IQOS and solid pricing for our combustible tobacco portfolio, with like-for-like adjusted diluted EPS up by 9.9%, excluding currency.”
The Philip Morris earnings report also includes the company’s full-year 2020 outlook. It expects adjusted earnings per share to come in at $5.50. Wall Street’s estimate is for EPS of $5.60 during the year.
PM stock was up 3.15% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.