Philip Morris reports Q3 adjusted EPS $1.25, consensus $1.24
Reports Q3 net revenues, excluding excise taxes, of $7.0B, consensus $7.01B. Reports cigarette shipment volume of 207.1B units, down by 5.4%. "Our adjusted diluted EPS in the quarter increased by 4.0%, excluding currency, in line with our expectations. We are confident that we will achieve our full-year reported diluted EPS forecast. We continue to anticipate annual volume in line with the September year-to-date decline of 3.9%, despite temporary volume weakness this quarter. We are particularly encouraged by the strong performance of iQOS across all of its launch geographies, particularly in Japan where HeatSticks recorded a quarterly share of 3.5%," said CEO Andre Calantzopoulos.