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Philip Morris International, Inc. Message Board

  • bluecheese4u bluecheese4u Feb 7, 2013 3:23 PM Flag

    PHILIP MORRIS INTERNATIONAL INC. (PMI) REPORTS 2012 RESULTS; PROVIDES 2013 EARNINGS PER SHARE FORECAST

    PHILIP MORRIS INTERNATIONAL INC. (PMI) REPORTS 2012 RESULTS; PROVIDES 2013 EARNINGS PER SHARE FORECAST

    2012 Full-Year
    Reported diluted earnings per share of $5.17, up by 6.6% versus $4.85 in 2011
    Adjusted diluted earnings per share of $5.22, up by 7.0% versus $4.88 in 2011, or up by 11.7% excluding currency, as detailed in the attached Schedule 16
    Cigarette shipment volume, excluding acquisitions, up by 1.3%
    Reported net revenues, excluding excise taxes, up by 0.9% to $31.4 billion
    Excluding currency and acquisitions, reported net revenues, excluding excise taxes, up by 5.6% Reported operating companies income up by 4.0% to $14.2 billion
    Excluding currency and acquisitions, reported operating companies income up by 8.4%
    Adjusted operating companies income, which reflects the items detailed in the attached Schedule 15, up by 3.7% to $14.2 billion
    Excluding currency and acquisitions, adjusted operating companies income up by 8.1%
    Operating income up by 3.9% to $13.8 billion
    Increased its regular quarterly dividend during the year by 10.4% to an annualized rate of $3.40 per common share
    Repurchased 74.9 million shares of its common stock for $6.5 billion
    Commenced a new three-year share repurchase program during the year of $18 billion

    2012 Fourth-Quarter
    Reported diluted earnings per share of $1.25, up by 15.7% versus $1.08 in 2011
    Adjusted diluted earnings per share of $1.24, up by 12.7% versus $1.10 in 2011, or up by 16.4% excluding currency, as detailed in the attached Schedule 12
    Cigarette shipment volume, excluding acquisitions, up by 2.9%,
    Reported net revenues, excluding excise taxes, up by 2.8% to $7.9 billion
    Excluding currency and acquisitions, reported net revenues, excluding excise taxes, up by 6.4% Reported operating companies income up by 9.5% to $3.3 billion
    Excluding currency and acquisitions, reported operating companies income up by 13.0%
    Adjusted operating companies income, which reflects the items detailed in the attached Schedule 11, up by 8.8% to $3.3 billion
    Excluding currency and acquisitions, adjusted operating companies income up by 12.3% Operating income up by 9.5% to $3.2 billion
    Repurchased 22.4 million shares of its common stock for $2.0 billion

    2013
    • Forecasts 2013 full-year reported diluted earnings per share to be in a range of $5.68 to $5.78, at prevailing exchange rates, versus $5.17 in 2012. Excluding a forecasted total unfavorable currency impact of approximately $0.06 for the full-year 2013, the reported diluted earnings per share range represents a projected increase of 10% to 12% versus adjusted diluted earnings per share of $5.22 in 2012, as detailed in the attached Schedule 16
    • Forecast includes a one-year gross productivity and cost savings target for 2013 of approximately $300 million
    • Forecast includes a share repurchase target amount for 2013 of $6.0 billion

    NEW YORK, February 7, 2013 – Philip Morris International Inc. (NYSE / Euronext Paris: PM) today announced its 2012 full-year and fourth-quarter results.
    “Our robust performance in 2012 across key operational metrics was all the more impressive given the spectacular results in 2011 and the continuing economic woes affecting all southern European nations,” said Louis C. Camilleri, Chairman of the Board and Chief Executive Officer.
    “We achieved organic volume growth of 1.3%, grew reported net revenues and operating companies income, excluding currency and acquisitions, by 5.6% and 8.4%, respectively, and increased our total international market share as well as that of our flagship brand, Marlboro.”
    “Every year since our spin-off in 2008, we have met or exceeded our adjusted diluted mid to long- term annual EPS growth target, excluding currency, of 10%-12%. The forecast we issued today for 2013 projects another year of solid performance. This consistency underpins our ability to generously reward our long-term shareholders with superior returns.”

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