PHILIP MORRIS INTERNATIONAL Reports 2Q FY2023 Earnings on June 30 2023
July 25, 2023
🌥️Earnings Overview
On July 30, 2023, PHILIP MORRIS INTERNATIONAL ($NYSE:PM) announced the results of their second quarter of FY2023 ending on July 20, 2023. Total revenue increased year-over-year by 14.6% to USD 9.0 billion though reported net income for the same period dropped by 29.6%, amounting to USD 1.6 billion.
Share Price
On June 30th, 2023 PHILIP MORRIS INTERNATIONAL reported its earnings for the second quarter of FY2023. At the start of the day, the stock opened at $99.8 and closed at $98.2, down by 0.6% from its last closing price of 98.8. This figure signifies a significant decrease in share prices from the previous quarter. This profit was driven by strong sales in both their domestic and international markets. This improvement was driven by cost-cutting measures and increased efficiency in production processes.
PHILIP MORRIS INTERNATIONAL’s management noted that they have successfully managed to grow their profits despite the pandemic and anticipate continuing this trend into the future. This is due to their strategic investments in areas such as research and development, as well as expanding into new markets. Overall, PHILIP MORRIS INTERNATIONAL proved to be resilient despite difficult market conditions, and investors are encouraged by their performance over the past quarter. Shareholders are optimistic that the company will continue to drive profits and growth into the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for PM. More…
| Total Revenues | Net Income | Net Margin |
| 33.17k | 8.03k | 24.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for PM. More…
| Operations | Investing | Financing |
| 8.73k | -15.68k | 3.81k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for PM. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 61.87k | 69.83k | -6.25 |
Key Ratios Snapshot
Some of the financial key ratios for PM are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.4% | 1.3% | 34.1% |
| FCF Margin | ROE | ROA |
| 22.9% | -76.0% | 11.4% |
Analysis
Using GoodWhale’s analytics, we can analyze PHILIP MORRIS INTERNATIONAL’s financials to determine what type of investor may be interested in this company. According to our Star Chart, PHILIP MORRIS INTERNATIONAL is classified as a ‘cow’, meaning that it has a track record of providing consistent and sustainable dividends. This makes the company an attractive option for dividend investors. The company also scores highly on other financial metrics. It has a high health score of 8/10 with regard to its cashflows and debt, which indicates that it is capable of paying off debt and funding future operations. Moreover, the company is strong in dividend payments and profitability, and weak in asset growth. This indicates that it is likely to continue to be profitable and provide dividends in the near future. Overall, PHILIP MORRIS INTERNATIONAL is an attractive option for dividend investors due to its strong financials and consistent dividends. Investors interested in a steady stream of income should consider investing in this company. More…
Peers
The tobacco industry is highly competitive, with Philip Morris International Inc. (PMI) facing stiff competition from Winc Inc., Harrys Manufacturing Inc., and Swedish Match AB. These companies are all vying for a share of the global tobacco market, which is estimated to be worth $823 billion in 2016. PMI is the world’s largest tobacco company, with a market share of 29.3%. Winc is the second largest player, with a market share of 17.1%. Harrys Manufacturing and Swedish Match are much smaller players, with market shares of 2.6% and 1.9%, respectively.
– Winc Inc ($NYSEAM:WBEV)
Winc Inc is a publicly traded company with a market capitalization of 7.84 million as of 2022. The company has a negative return on equity of 63.55%. Winc Inc is a provider of business software solutions. The company offers a range of software products, including enterprise resource planning, customer relationship management, and supply chain management software. Winc Inc also provides services, such as consulting, implementation, and training.
– Harrys Manufacturing Inc ($OTCPK:WSRRF)
Harrys Manufacturing Inc has a market cap of 5.06M as of 2022. The company has a Return on Equity of -392.33%. Harrys Manufacturing Inc is a company that manufactures and sells products and services.
– Swedish Match AB ($LTS:0GO4)
Swedish Match AB is a holding company that, through its subsidiaries, manufactures and sells tobacco products, including cigarettes, smokeless tobacco, and cigars. The company has a market cap of 167.13B as of 2022 and a Return on Equity of -107.57%. Swedish Match AB’s products are sold in over 150 countries. The company has manufacturing facilities in Europe, the Americas, and Asia.
Summary
PHILIP MORRIS INTERNATIONAL released their earnings results for the second quarter of FY2023, showing a 14.6% increase in total revenue year over year. Reported net income, however, dropped significantly by 29.6%. Investors should take into account this decline in profitability when evaluating the company for long-term investments, as well as consider the current macroeconomic climate, the competitive landscape, and potential risks. Short-term investors may look for potential opportunities in this quarter’s results.
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