4/18/2019, 1:03 PM (Source: TeleTrader)
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Philip Morris EPS down 13% to $0.87 in Q1

American cigarette and tobacco manufacturer Philip Morris International announced on Thursday its revenue in the first quarter of 2019, excluding excise taxes, stood at $6.75 billion, 2.1% less than last year. Meanwhile, the company reported diluted earnings-per-share (EPS) of $0.87 in the same quarter, marking a 13% decrease compared to the same three-month period last year.

Cigarette and heating tobacco unit shipment volume rose 1.1% annually to reach 175.8 billion units. Cigarette shipment volume remained unchanged at 164.3 billion units, while heated tobacco unit shipment volume spiked 20% to hit of 11.5 billion units.

"Our first-quarter results represent a promising start to the year, underpinned by a robust performance from our combustible portfolio and strong share growth from our smoke-free products, notably in Japan, Russia and across the EU. Indeed, we achieved an important milestone in the quarter, reaching more than 10 million IQOS users worldwide," Chief Executive Officer of Philip Morris, Andre Calantzopoulos, stated.

Breaking the News / FH