Philip Morris reports Q1 adjusted EPS $1.09, consensus 97c
Reports Q1 revenue $6.8B, consensus $6.74B. "Our first-quarter results represent a promising start to the year, underpinned by a robust performance from our combustible portfolio and strong share growth from our smoke-free products, notably in Japan, Russia and across the EU. Indeed, we achieved an important milestone in the quarter, reaching more than 10 million IQOS users worldwide," said Andre Calantzopoulos, CEO. "While our reported results were impacted by previously disclosed charges related to our Canadian subsidiary, on a currency-neutral basis, net revenues, adjusted operating income and adjusted diluted EPS grew by 3.2%, 9.1% and 15.0%, respectively. Adjusted operating income margin, excluding currency, increased by 200 basis points to 37.2%. This is an encouraging performance and puts us on track to deliver against our full-year adjusted diluted EPS currency-neutral growth forecast of at least 8% on a like-for-like basis."