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UNITED STATES

PMI reaffirms full-year reported diluted EPS forecast

09 Sep 2021. Philip Morris International Inc. (PMI) has addressed investors at the Barclays Global Consumer Staples Conference and has confirmed its full-year reported diluted EPS forecast range of USD 5.76 to USD 5.86, according to a company press release.

The presentation and Q&A session in which PMI’s Chief Financial Officer, Emmanuel Babeau, among others, spoke to investors were conducted in a virtual format and the archived copy of the webcast is available at www.pmi.com/2021barclays until 7 October.

According to the press release, PMI reaffirmed its full-year reported diluted EPS forecast range of USD 5.76 to USD 5.86, reflecting a favourable currency impact, at prevailing exchange rates, of USD 0.18. On an organic basis, this forecast represents a projected increase of around 12 per cent to 14 per cent versus adjusted diluted EPS of USD 5.17 in 2020. The company now expects to be toward the upper end of the forecast range.

“We remain on-track for an excellent performance in 2021, underpinned by better combustible volumes and continued strong demand for IQOS,” said Jacek Olczak, Chief Executive Officer. “We are today reaffirming our full-year EPS forecast and now expect to be toward the upper end of our 12 per cent to 14 per cent organic growth range.”

“While the increased impact of the global semiconductor shortage is currently limiting our ability to realize the full potential of IQOS, the underlying momentum of the brand is clear – as evidenced by the positive early results for IQOS ILUMA in Japan following the launch last month,” Olczak concluded.