Golf Clap for Philip Morris International
Philip Morris International (NYS: PM) reported earnings on July 19. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Philip Morris International met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly and GAAP earnings per share increased.
Gross margins improved, operating margins contracted, net margins dropped.
Revenue details
Philip Morris International notched revenue of $8.12 billion. The 10 analysts polled by S&P Capital IQ anticipated revenue of $8.05 billion on the same basis. GAAP reported sales were 1.8% lower than the prior-year quarter's $8.27 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $1.36. The 15 earnings estimates compiled by S&P Capital IQ forecast $1.35 per share. GAAP EPS of $1.36 for Q2 were 0.7% higher than the prior-year quarter's $1.35 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 67.2%, 160 basis points better than the prior-year quarter. Operating margin was 44.5%, 40 basis points worse than the prior-year quarter. Net margin was 28.5%, 60 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $8.28 billion. On the bottom line, the average EPS estimate is $1.38.
Next year's average estimate for revenue is $31.70 billion. The average EPS estimate is $5.19.
Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,854 members out of 2,912 rating the stock outperform, and 58 members rating it underperform. Among 812 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 803 give Philip Morris International a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Philip Morris International is outperform, with an average price target of $90.95.
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The article Golf Clap for Philip Morris International originally appeared on Fool.com.
Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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