PHILIP MORRIS INTERNATIONAL Reports Q2 FY2023 Earnings Results on July 20, 2023
August 3, 2023
🌥️Earnings Overview
PHILIP MORRIS INTERNATIONAL ($NYSE:PM) reported its second quarter FY2023 earnings results on July 20 2023. Total revenue for the period (ended June 30 2023) was USD 9.0 billion, an increase of 14.6% compared to the same period in the previous year. Meanwhile, net income for the quarter decreased by 29.6% year-on-year, amounting to USD 1.6 billion.
Market Price
At the opening of the markets, PHILIP MORRIS INTERNATIONAL stock was trading at $99.8, but closed the day at $98.2, down 0.6% from its previous closing price of 98.8. The company’s earnings report was highly anticipated given the recent growth in the tobacco industry, and investors were eager to review the company’s performance. PHILIP MORRIS INTERNATIONAL reported strong profits for Q2, surpassing analyst expectations and reinforcing its position as one of the leading players in the industry. The company also highlighted its strong financial position and gave an outlook for the rest of FY2023 which was largely positive.
The earnings report and share price reaction to it demonstrate the continued success of PHILIP MORRIS INTERNATIONAL in the tobacco industry. The company has established itself as a leader in the sector and is well-positioned to capitalize on the current growth in the industry. With its strong financial position and positive outlook for the year ahead, PHILIP MORRIS INTERNATIONAL is expected to remain a strong performer in the coming months. 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
At GoodWhale, we’ve done a deep dive into the financial and business fundamentals of PHILIP MORRIS INTERNATIONAL and assessed its risk profile. Our analysis found that PHILIP MORRIS INTERNATIONAL is a medium risk investment. We have detected two risk warnings in the company’s balance sheet and financial journal. If you would like to gain a better understanding of these risks, you can register for free on goodwhale.com. There, you can access our full report, which provides detailed insights into PHILIP MORRIS INTERNATIONAL’s risk profile. 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
Overall, Philip Morris International recorded solid revenue growth of 14.6% in the second quarter of FY2023.
However, the company’s net income decreased by 29.6% compared to the same period last year, indicating a decline in profitability. Investors should watch future earnings reports to determine whether Philip Morris International will be able to sustain this growth trajectory. It is also important to consider the company’s plans for future investments and whether they are likely to increase revenue and profitability.
Additionally, investors should analyze the company’s competitive landscape and performance relative to its peers.
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