2/8/2018, 1:19 PM (Source: TeleTrader)
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Philip Morris reports EPS of $0.44 in Q4

Tobacco giant Philip Morris International Inc. reported on Thursday its diluted earnings per share in the fourth quarter of 2017 were $0.44, declining by 60% compared to the same period last year. The decline was attributed to the $0.88 per share impact of tax items as a result of the US tax reform. Excluding those items, adjusted EPS amounted to $1.31%, marking a 19.1% rise from a year ago. Reported net revenues were $21.6 billion, up by 12.5% year on year and operating income stood at $3.3 billion, 27% higher than in the same quarter the previous year.

For full fiscal 2017, reported diluted EPS fell 13.4% to $3.88, while adjusted EPS grew 10% to $4.93. Net revenues increased 4.2% to $78.1 billion in 2017 compared to the previous twelve-month period.

"A strong fourth-quarter performance helped drive robust full-year results, exemplified by currency-neutral, double-digit adjusted earnings per share growth, despite previously disclosed challenges in Russia and Saudi Arabia," CEO Andre Calantzopoulos.

Philip Morris shares traded 1.64% higher in pre-market trading.

Breaking the News / NP