Oct. 21 at 12:56 PM
$PM & related
$BTI $MO
$PM beats by
$0.15, beats on revs; guides FY25 EPS in-line (158.06)
earnings of
$2.24 per share, excluding non-recurring items,
$0.15 better than Consensus of
$2.09; revenues rose 9.4% year/year to
$10.85 bln vs the
$10.64 bln Consensus.
Co issues in-line guidance for FY25, sees EPS of
$7.46-7.56, excluding non-recurring items, vs.
$7.52 FactSet Consensus. This forecast assumes:An estimated total international industry volume decline of around 1% for cigarettes and HTUs, excluding China and the U.S.;
Total cigarette and smoke-free product shipment volume growth for PMI of around 1%. We expect smoke-free product volume growth of 12% to 14%, partly offset by cigarette volume declines of around 2%. SFP volume growth continues to assume 10% to 12% growth in HTU adjusted IMS volumes, and U.S. nicotine pouch second-half shipment growth broadly in-line with offtake growth before trade inventory movements.
Net revenue growth of around 6% to 8% on an organic basis
