NEW YORK, Feb 23, 2011 (BUSINESS WIRE) --
Philip Morris International Inc.'s (NYSE / Paris Euronext: PM) Chief Financial Officer, Hermann Waldemer, addresses investors today at the CAGNY Conference in Boca Raton, Florida.
The presentation and Q&A session are being webcast live, in a listen-only mode, beginning at approximately 9:15 a.m. ET, at www.pmi.com. An archived copy of the webcast, together with presentation remarks and slides, will be available on the same site.
Highlights of the presentation include: a brief overview of the international tobacco sector as an investment opportunity and PMI's leading position within it; the regulatory and tobacco excise tax environment; the company's outlook for 2011; and the tremendous cash flow and the superior shareholder returns that it is generating.
PMI also reaffirms its guidance, announced on February 10, for 2011 full-year reported diluted earnings per share to be in a range of $4.35 to $4.45, at prevailing exchange rates, versus $3.92 in 2010. Excluding a favorable currency impact at prevailing exchange rates of approximately $0.10, 2011 reported diluted earnings per share are projected to increase by 8.5% to 11%, or by approximately 10% to 12.5% versus adjusted diluted earnings per share of $3.87 in 2010. This guidance excludes the impact of any future acquisitions, asset impairment and exit cost charges, and any unusual events.
The presentation, related discussion and this release contain statements that, to the extent they do not relate strictly to historical or current facts, constitute "forward-looking statements" within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current plans, estimates and expectations, and are not guarantees of future performance. They are based on management's expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements.
The risks and uncertainties relating to the forward-looking statements in the presentation, related discussion and this release include those described under Item 1A. "Risk Factors" in PMI's Form 10-Q for the quarter ended September 30, 2010, filed with the Securities and Exchange Commission. PMI does not undertake to publicly update or revise any forward-looking statements, except in the normal course of its public disclosure obligations.
About Philip Morris International Inc.
Philip Morris International Inc. (PMI) is the leading international tobacco company, with seven of the world's top 15 brands, including Marlboro, the number one cigarette brand worldwide. PMI's products are sold in approximately 180 countries. In 2010, the company held an estimated 16.0% share of the total international cigarette market outside of the U.S., or 27.6% excluding the People's Republic of China and the U.S. For more information, see www.pmi.com.
SOURCE: Philip Morris International Inc.
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