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Philip Morris International Boosts Dividend, Cost Structure Improving

publication date: Oct 24, 2021
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Image Shown: An overview of Philip Morris International Inc’s guidance for 2021. Image Source: Philip Morris International Inc – Third Quarter of 2021 IR Earnings Presentation. 

On October 19, Philip Morris International reported third quarter 2021 earnings that beat both consensus top- and bottom-line estimates. The firm narrowed its reported diluted EPS estimate for 2021 in conjunction with the report, which saw the midpoint of its guidance move marginally lower,. However, Philip Morris International’s non-GAAP currency-neutral adjusted diluted EPS forecast for 2021 now calls for 13%-14% growth over 2020 levels, which is an improvement from its previous guidance calling for 12%-14% growth.

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