Philip Morris Intl Earnings: SMOKES Past Analyst Estimates

S&P 500 (NYSE:SPY) component Philip Morris International Inc. (NYSE:PM) reported its results for the second quarter. Philip Morris International is the holding company whose subsidiaries and affiliates manufacture and sell cigarettes and other tobacco products in markets outside the U.S.

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Philip Morris International Inc. Earnings Cheat Sheet

Results: Net income for Philip Morris International Inc. fell to $2.32 billion ($1.36 per share) vs. $2.41 billion ($1.35 per share) a year earlier. This is a decline of 3.7% from the year-earlier quarter.

Revenue: Fell 1.8% to $8.12 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Philip Morris International Inc. beat the mean analyst estimate of $1.34 per share. Analysts were expecting revenue of $8.01 billion.

Key Stats:

Last quarter’s profit decreases breaks a four-quarter run of profit increases. In the first quarter, net income rose 12.6% from the year earlier, while the figure increased 7.6% in the fourth quarter of the last fiscal year, 30.5% in the third quarter of the last fiscal year and 21.5% in the second quarter of the last fiscal year.

A year-over-year revenue decrease last quarter snaps a streak of four consecutive quarters of revenue increases. The best quarter in that span was the third quarter of the last fiscal year, which saw revenue rise 26.4%.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 6 cents in the first quarter, by 2 cents in the fourth quarter of the last fiscal year, and by 14 cents in the third quarter of the last fiscal year.

Looking Forward: Over the past ninety days, the average estimate for the third quarter has fallen from $1.45 per share to $1.39, indicating that analysts are growing pessisimistic about the company’s performance next quarter. Over the past sixty days, the average estimate for the fiscal year has reached $5.17 per share, a decline from $5.29.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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