Connecticut-based Philip Morris International Inc. (PM) is a leading global tobacco company known for its iconic brand, Marlboro. It aims to become a majority smoke-free company by 2030, investing over $12.5 billion in developing and commercializing alternative products since 2008. With a market cap of $187.5 billion, Philip Morris has a presence in over 180 countries. The tobacco giant is expected to release its Q3 earnings before the market opens on Tuesday, Oct. 22.
Ahead of the event, analysts expect Philip Morris to report a profit of $1.83 per share, up 9.6% from $1.67 per share reported in the year-ago quarter. The company has surpassed Wall Street’s adjusted EPS projections thrice over the past four quarters while missing the estimates on one occasion. Its adjusted EPS for the last reported quarter saw a marginal decline but exceeded the consensus estimates by 2.6%.
