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Philip Morris (PM) closed at $89.96 in the latest trading session, marking a -0.51% move from the prior day.
Philip Morris (PM) closed the most recent trading day at $91.56, moving +0.41% from the previous trading session.
It appears that PM has temporarily emerged as a winner of the ongoing transition to smoke-free tobaccos, while also recording a somewhat stable cigarette shipping volume. With its smoke-free segment already being accretive to its top/ bottom lines, we can understand why PM has been awarded with the premium growth valuations, compared to MO and BTI. Its prospects are likely to be moderately lifted moving forward, assuming a successful IQOS 3 launch in the US in Q2'24 and IQOS ILUMA in 2025.
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Philip Morris (NYSE: PM) reported its Q4 results last week, with revenues falling slightly above but earnings missing the street estimates. Although PM stock has fallen around 7% so far this year, we believe it has room for growth.
STAMFORD, CT--(BUSINESS WIRE)--Regulatory News: Philip Morris International Inc. (PMI) (NYSE: PM) will host a live audio webcast of a presentation by Jacek Olczak, Chief Executive Officer, and Emmanuel Babeau, Chief Financial Officer, at the Consumer Analyst Group of New York (CAGNY) Conference on Wednesday, February 21, 2024, at 10:00 a.m. ET. The live webcast and presentation slides will be available at www.pmi.com/2024cagny. The webcast replay will be available at the same link until Friday,.
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Philip Morris International Inc. (PM) Q4 2023 Earnings Call Transcript
We review Philips Morris' latest Q4 earnings report. Strong growth for smoke-less products is balancing weaker trends in global cigarette sales. We see value in the stock's 5.9% dividend yield, which remains well supported by underlying cash flow.
Philip Morris said Iqos sales outpaced Marlboro for the first time. Overall revenue growth was solid, but earnings missed estimates.