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News

Philip Morris Intl FY24 Adj. EPS Outlook Revised Up To $6.33-$6.45 (From $6.19-$6.31 Prior) Vs. $6.33 Estimate

Author: Benzinga Newsdesk | July 23, 2024 07:03am

 

Full-Year

 

2024

Forecast

 

2023

Growth

 

 

 

 

 

 

 

 

 

 

Reported Diluted EPS

$5.89

-

$6.01

 

$ 5.02

 

 

 

 

Adjustments:

 

 

 

 

 

 

 

 

 

Asset impairment and exit costs

0.09

 

0.06

 

 

 

 

Termination of distribution arrangement in the Middle East

 

0.04

 

 

 

 

Impairment of goodwill and other intangibles

0.01

 

0.44

 

 

 

 

Amortization of intangibles(1)

0.43

 

0.25

 

 

 

 

Charges related to the war in Ukraine

 

0.03

 

 

 

 

Swedish Match AB acquisition accounting related items

 

0.01

 

 

 

 

Income tax impact associated with Swedish Match AB financing

0.09

 

(0.11)

 

 

 

 

South Korea indirect tax charge

 

0.11

 

 

 

 

Termination of agreement with Foundation for a Smoke-Free World

 

0.07

 

 

 

 

Fair value adjustment for equity security investments

(0.15)

 

(0.02)

 

 

 

 

Tax items

(0.03)

 

0.11

 

 

 

 

Total Adjustments

0.44

 

0.99

 

 

 

 

Adjusted Diluted EPS

$6.33

-

$6.45

 

$ 6.01

 

5.3%

-

7.3%

Less: Currency

(0.34)

 

 

 

 

 

 

Adjusted Diluted EPS, excluding currency

$6.67

-

$6.79

 

$ 6.01

 

11.0%

-

13.0%

Full-Year Forecast

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