Philip Morris International IncPM
▲ PositiveCapitalrelevance
Raises full-year outlook due to favorable FX, boosting EPS guidance.
Impact on stocks 1
Consumer Staples
Philip Morris International IncPhilip Morris International has raised its full-year outlook to reflect a favorable foreign-exchange impact of about $0.24, while maintaining its focus on smoke-free products and targeting low-double-digit to low-teens medium-term EPS growth. CEO Jacek Olczak said the guidance revision is solely due to currency movements, with a favorable third-quarter effect of about $0.01. In Japan, the heated-tobacco market is stabilizing after tax-related price increases, and IQOS has maintained a high share of the premium segment. The company is preparing to launch IQOS ILUMA in the U.S. pending FDA authorization, and has expanded its ZYN nicotine pouch line with more than 20 new stock-keeping units, including higher nicotine strengths. Olczak still expects the U.S. nicotine-pouch category to grow above 20% over the longer term, and reiterated that dividend growth remains the top capital-return priority.
Philip Morris International IncRaises full-year outlook due to favorable FX, boosting EPS guidance.