May 24, 2019
Philip Morris International Inc. (PMI) Presents at Morgan Stanley Global Consumer & Retail Conference
The presentation and Q&A session are being webcast live at www.pmi.com,
in a listen-only mode, beginning at approximately 12
The presentation includes the following key highlights:
PMI announces that, for the full year 2011, it expects to achieve a
reported diluted EPS of at least
$4.85, up from its previously disclosed guidance range of $4.75 to $4.80. Compared to our adjusted diluted EPS of $3.87in 2010, this represents a growth rate of approximately 25.0%, or 20.0% after excluding an expected favorable currency variance of approximately 20 centsfor the full year;
- Barring any unforeseen major disruption, PMI expects to again meet its mid to long-term constant currency annual adjusted diluted EPS growth target of 10% to 12% in 2012;
Over the next five years, PMI expects cigarette industry volume
USAto increase up to 1.3% a year, driven by growth in Chinaand non-OECD markets. The forecast trend for the industry, excluding Chinaand the USA, is between stability and a 1.3% annual decline, an improved outlook compared to previous forecasts; PMI expects to continue to outperform the industry thanks to its excellent business momentum;
PMI believes it will exit 2011 with a national market share in
Japanof approximately 28.5%;
On a year-to-date basis through September, 2011, PMI has exceeded
$1.6 billionin pricing variance and expects a favorable pricing environment to continue in 2012;
PMI will comfortably surpass its targeted annual pretax cost savings
$250 millionfor 2011;
On a year-to-date basis through September, 2011, PMI has generated
$9.0 billionin free cash flow, thus already surpassing its full year 2010 total of $8.7 billion; and
Since PMI’s spin-off in
March 2008, the company has increased its annual dividend by 67.4% to $3.08per share and has returned nearly $35 billionto its shareholders through dividends and share repurchases.
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
A glossary of terms and reconciliations of non-GAAP measures included in the presentation to the most comparable GAAP measures are provided either at the end of the presentation or are available on PMI’s web site.
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