TELETRADER News
7/18/2019, 1:17 PM (Source: TeleTrader)
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Philip Morris posts diluted EPS rise of 5.7% to $1.49

Philip Morris International said its earnings per diluted share rose 5.7% to $1.49 in the second quarter of 2019. Net revenues in the quarter ended June 30 came in at $7.7 billion, falling 0.3% compared to the same three-month period last year. Net income rose from $2.2 billion in the second quarter of 2018 to $2.3 billion in this year's second quarter.

Total shipments declined by 3.6% year-on-year in the second quarter and reached 183.8 billion units.

CEO Andre Calantzopoulos said: "Of particular note is our combined cigarette and heated tobacco unit shipment volume, which -- for the first six months of the year -- was up by 0.1% on a like-for-like basis. This positive performance was led by robust in-market heated tobacco unit year-to-date sales growth of 34.0%, making HEETS/HeatSticks, combined, a top-ten international tobacco brand, despite only being present in approximately one quarter of our markets. In the markets where they are sold, our heated tobacco brands held a sizable combined share of 5.0% year-to-date, driving a total international share of 2.1%, up by 0.6 points."

Breaking the News / VP