Philip Morris International Boosts FY17 Reported EPS Guidance

Philip Morris International Inc said Wednesday that it is increasing its 2017 full-year reported diluted earnings per share guidance to a range of $4.80 – $4.95, from the prior guidance range of $4.70 – $4.85 EPS. Analysts polled by Capital IQ are expecting GAAP EPS of $4.79 for FY17.

Excluding an unfavorable currency impact, at prevailing exchange rates of $0.08 per share for FY17, compared to unfavorable currency of $0.18 per share when the company provided guidance on Feb. 2, the reported diluted earnings per share range represents an increase of 9% to 12% versus adjusted diluted earnings per share of $4.48 in FY16.

Shares of the cigarette and tobacco manufacturer were down marginally in the recent trading, even as they hit a new record high of $104.87 earlier.

By Stephen Holmes