By Michael Dabaie

Philip Morris International Inc. revised its full-year 2020 earnings per share guidance to be around $5.08.

This compares to the previous forecast range of $5.03 to $5.08 the company gave in October. The company cited lower anticipated costs, driven by efficiencies related to the commercial engine and digitalization, ongoing business simplification, and adjustments to commercial plans due to the pandemic.

Philip Morris guided for 2020 adjusted EPS of $5.10, at the upper end of October's forecast for a range of $5.05 to $5.10.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

December 02, 2020 09:07 ET (14:07 GMT)

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