Philip Morris International Inc. Presents at the Morgan Stanley Global Consumer & Retail Conference; Revises, for Currency On...
November 16 2016 - 10:30AM
Business Wire
Regulatory News:
Philip Morris International Inc.’s (“PMI”) (NYSE/Euronext Paris:
PM) Chief Financial Officer, Jacek Olczak, addresses investors
today at the Morgan Stanley Global Consumer & Retail Conference
in New York.
The presentation and Q&A session are being webcast live at
www.pmi.com/webcasts in a listen-only mode, beginning at
approximately 10:40 a.m. Eastern Time. The audio webcast may also
be accessed on iOS or Android devices by downloading PMI’s free
Investor Relations Mobile Application at www.pmi.com/irapp. An
archived copy of the webcast, together with slides, will be
available on the same site. Highlights of the presentation
include:
- PMI revises, for currency only, its
2016 full-year reported diluted earnings per share forecast to be
in a range of $4.46 to $4.51 versus $4.42 in 2015. Excluding an
unfavorable currency impact, at prevailing exchange rates, of
approximately $0.42 for the full-year 2016, the diluted earnings
per share range represents a projected increase of approximately
10.5% to 11.5% versus adjusted diluted earnings per share of $4.42
in 2015.
- This forecast does not include any
share repurchases in 2016.
- The adjusted diluted EPS of $4.42 in
2015 is calculated as reported diluted EPS of $4.42, plus a $0.03
per share charge related to asset impairment and exit costs, less a
$0.03 per share benefit related to discrete tax items.
- This forecast excludes the impact of
any future acquisitions, unanticipated asset impairment and exit
cost charges, future changes in currency exchange rates, and any
unusual events.
- In the fourth quarter of 2016, PMI
continues to anticipate:
- Strong currency-neutral net revenue
growth, excluding excise taxes, supported by a favorable pricing
variance of approximately 8% to 9% of fourth-quarter 2015 net
revenues, excluding excise taxes; and
- A favorable cost comparison, reflecting
incremental investments made in the fourth quarter of 2015.
- PMI’s weekly HeatSticks market share in
Japan reached 4.9% in the last week of October 2016.
Forward-Looking and Cautionary
Statements
The presentation, related discussion and this release contain
statements that, to the extent they do not relate strictly to
historical or current facts, constitute "forward-looking
statements" within the meaning of the Safe Harbor Provisions of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are based on current plans, estimates
and expectations, and are not guarantees of future performance.
They are based on management's expectations that involve a number
of business risks and uncertainties, any of which could cause
actual results to differ materially from those expressed in or
implied by the forward-looking statements.
The risks and uncertainties relating to the forward-looking
statements in the presentation, related discussion and this release
include those described under Item 1A. “Risk Factors” in PMI’s Form
10-Q for the quarter ended September 30, 2016, filed with the
Securities and Exchange Commission. PMI does not undertake to
publicly update or revise any forward-looking statements, except in
the normal course of its public disclosure obligations.
About Philip Morris International Inc.
(“PMI”)
PMI is the world’s leading international tobacco company, with
six of the world's top 15 international brands and products sold in
more than 180 markets. In addition to the manufacture and sale of
cigarettes, including Marlboro, the number one global cigarette
brand, and other tobacco products, PMI is engaged in the
development and commercialization of Reduced-Risk Products
(“RRPs”). RRPs is the term PMI uses to refer to products with the
potential to reduce individual risk and population harm in
comparison to smoking cigarettes. Through multidisciplinary
capabilities in product development, state-of-the-art
facilities, and industry-leading scientific substantiation, PMI
aims to provide an RRP portfolio that meets a broad spectrum of
adult smoker preferences and rigorous regulatory requirements. For
more information, see www.pmi.com and
www.pmiscience.com.
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Philip Morris International Inc.Investor Relations:New York:
+1-917-663-2233Lausanne: +41 (0)58 242 4666orMedia:Lausanne: +41
(0)58 242 4500
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