2/7, 3:24 PM (Source: TeleTrader)
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Philip Morris nearly doubles EPS in Q4

Tobacco giant Philip Morris International Inc. reported on Thursday its earnings-per-share (EPS) in the fourth quarter of 2018 nearly doubled compared to the same three-month period to reach $1.23. Net revenues in the same quarter came in at $7.5 billion, 9.6% less than a year ago, while operating income dropped by 19.1% to reach $2.7 billion. For the whole of 2018, EPS were $5.08, marking a 30% rise year-on-year. Net revenues were up by 3% annually to arrive at $29.6 billion, while operating income stood at $11.4 billion, a 1.8% increase.

The company sold 202.4 billion units of cigarette and heated tobacco in the fourth quarter, 4.6% less annually. Cigarette shipment volume was down 3% at 190.2 billion units, while heated tobacco shipments fell by 22.6% to reach 12.6 billion units. Meanwhile, international market share in 2018, excluding the US and China, was up by 0.5 points to 28.4%.

"We closed out a challenging year with a robust financial and strategic performance across the business.Excluding inventory movements largely associated with heated tobacco unit volume in Japan, our total volume variance was flat -- our best annual performance since 2012 -- underpinned by a near doubling of global in-market sales of heated tobacco units," said Andre Calantzopoulos, Chief Executive Officer of Philip Morris.

Breaking the News / FH