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Philip Morris International Inc. (PM) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Philip Morris International Inc.

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CIK: 1413329 Ticker: PM



Exhibit 99.1
PRESS RELEASE
 
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Investor Relations:
 
Media:
 
 
New York: +1 (917) 663 2233
 
Lausanne: +41 (0)58 242 4500
 
 
Lausanne: +41 (0)58 242 4666
 
Email: Iro.Antoniadou@pmi.com
 
 
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PHILIP MORRIS INTERNATIONAL INC. (PMI) REPORTS 2018 THIRD-QUARTER RESULTS;
REPORTED DILUTED EPS OF $1.44 UP 13.4% VS. $1.27 IN 2017;
REAFFIRMS 2018 FULL-YEAR REPORTED DILUTED EPS TO BE IN A RANGE OF $4.97 TO $5.02,
REFLECTING CURRENCY-NEUTRAL GROWTH OF APPROXIMATELY 8% TO 9% VS. 2017
ADJUSTED DILUTED EPS OF $4.72

2018 Third-Quarter
•
Reported and adjusted diluted earnings per share of $1.44, up by $0.17 or 13.4% versus $1.27 in 2017
•
Excluding unfavorable currency of $0.09, adjusted diluted earnings per share up by $0.26 or 20.5% versus $1.27 in 2017 as detailed in the attached Schedule 2
•
Cigarette and heated tobacco unit shipment volume of 203.7 billion, down by 2.1%, or up by 1.1% excluding the net impact of total estimated distributor inventory movements, reflecting:
•
Cigarette shipment volume of 195.1 billion units, down by 3.4 billion units or 1.7%
•
Heated tobacco unit shipment volume of 8.7 billion units, down by 1.1 billion units or 11.0%
•
Net revenues of $7.5 billion, up by 0.4%
•
Excluding unfavorable currency of $213 million, net revenues up by 3.3% as detailed in the attached
Schedule 3
•
Operating income of $3.2 billion, up by 2.2%
•
Excluding unfavorable currency of $167 million, operating income up by 7.6% as detailed in the attached Schedule 5
•
Adjusted operating income, reflecting the items detailed in the attached Schedule 6, of $3.2 billion, up by 2.2%
•
Excluding unfavorable currency of $167 million, adjusted operating income up by 7.6% as detailed in the attached Schedule 6

2018 Nine Months Year-to-Date
•
Reported diluted earnings per share of $3.85, up by $0.42 or 12.2% versus $3.43 in 2017
•
Adjusted diluted earnings per share of $3.85, up by $0.46 or 13.6% versus $3.39 in 2017
•
Excluding unfavorable currency of $0.02, adjusted diluted earnings per share up by $0.48 or 14.2% versus $3.39 in 2017 as detailed in the attached Schedule 2
•
Cigarette and heated tobacco unit shipment volume of 579.3 billion, down by 1.2%, or up by 0.3% excluding the net impact of total estimated distributor inventory movements, reflecting:
•
Cigarette shipment volume of 550.1 billion units, down by 15.5 billion units or 2.7%
•
Heated tobacco unit shipment volume of 29.2 billion units, up by 8.7 billion units or 42.4%
•
Net revenues of $22.1 billion, up by 8.2%
•
Excluding favorable currency of $351 million, net revenues up by 6.5% as detailed in the attached
Schedule 4


The following information was filed by Philip Morris International Inc. (PM) on Thursday, October 18, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Philip Morris International Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

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Inside Philip Morris International Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Cash Flows (Parenthetical)
Condensed Consolidated Statements Of Comprehensive Earnings
Condensed Consolidated Statements Of Comprehensive Earnings (Parenthetical)
Condensed Consolidated Statements Of Earnings
Condensed Consolidated Statements Of Stockholders' (Deficit) Equity
Condensed Consolidated Statements Of Stockholders' (Deficit) Equity (Parenthetical)
Accumulated Other Comprehensive Losses
Accumulated Other Comprehensive Losses (Components Of Accumulated Other Comprehensive Earnings (Losses), Net Of Tax) (Details)
Accumulated Other Comprehensive Losses (Tables)
Acquisitions
Acquisitions (Narrative) (Details)
Background And Basis Of Presentation
Background And Basis Of Presentation (Details)
Balance Sheet Offsetting
Balance Sheet Offsetting (Details)
Balance Sheet Offsetting (Tables)
Benefit Plans
Benefit Plans (Components Of Net Periodic Benefit Cost) (Details)
Benefit Plans (Components Of Pension And Other Employee Benefits Costs) (Details)
Benefit Plans (Narrative) (Details)
Benefit Plans (Tables)
Contingencies
Contingencies (Health Care Cost Recovery Litigation) (Details)
Contingencies (Label-Related Cases) (Details)
Contingencies (Number Of Tobacco Related Cases Pertaining To Combustible Products Pending Against Us And/Or Our Subsidiaries Or Indemnitees) (Details)
Contingencies (Other Litigation) (Details)
Contingencies (Public Civil Actions) (Details)
Contingencies (Smoking And Health Litigation) (Details)
Contingencies (Tables)
Contingencies (Tobacco-Related Litigation) (Details)
Contingencies (Verdicts And Post-Trial Developments) (Details)
Earnings Per Share
Earnings Per Share (Calculation Of Basic And Diluted Eps) (Details)
Earnings Per Share (Tables)
Fair Value Measurements
Fair Value Measurements (Aggregate Fair Value Of Derivative Financial Instruments, Debt And Contingent Consideration) (Details)
Fair Value Measurements (Narrative) (Details)
Fair Value Measurements (Tables)
Financial Instruments
Financial Instruments (Cash Flow And Net Investment Hedging Activities Effect On Condensed Consolidated Statements Of Earnings And Other Comprehensive Earnings) (Details)
Financial Instruments (Fair Value Of Foreign Exchange Contracts) (Details)
Financial Instruments (Narrative) (Details)
Financial Instruments (Qualifying Hedging Activity Reported In Accumulated Other Comprehensive Earnings (Losses) Net Of Income Taxes) (Details)
Financial Instruments (Tables)
Goodwill And Other Intangible Assets, Net
Goodwill And Other Intangible Assets, Net (Goodwill And Other Intangible Assets, By Segment) (Details)
Goodwill And Other Intangible Assets, Net (Movement In Goodwill) (Details)
Goodwill And Other Intangible Assets, Net (Narrative) (Details)
Goodwill And Other Intangible Assets, Net (Other Intangible Assets) (Details)
Goodwill And Other Intangible Assets, Net (Range Of Useful Lives And Weighted-Average Remaining Useful Lives Of Amortizable Intangible Assets) (Details)
Goodwill And Other Intangible Assets, Net (Tables)
Income Taxes
Income Taxes (Details)
Indebtedness
Indebtedness (Credit Facilities) (Details)
Indebtedness (Long-Term Debt) (Details)
Indebtedness (Narrative) (Details)
Indebtedness (Tables)
Investments In Unconsolidated Subsidiaries
Investments In Unconsolidated Subsidiaries (Balance Sheet And Earnings Activity) (Details)
Investments In Unconsolidated Subsidiaries (Narrative) (Details)
Investments In Unconsolidated Subsidiaries (Tables)
New Accounting Standards
New Accounting Standards (Financial Instruments) (Details)
New Accounting Standards (Leases) (Details)
New Accounting Standards (Policies)
New Accounting Standards (Revenue Recognition) (Details)
New Accounting Standards (Tables)
Product Warranty
Product Warranty (Movement In Product Warranty Obligations) (Details)
Product Warranty (Narrative) (Details)
Product Warranty (Tables)
Sale Of Accounts Receivable
Sale Of Accounts Receivable (Details)
Segment Reporting
Segment Reporting (Details)
Segment Reporting (Tables)
Stock Plans
Stock Plans (Narrative) (Details)
Stock Plans (Psu Awards) (Details)
Stock Plans (Rsu Awards) (Details)
Stock Plans (Tables)
Ticker: PM
CIK: 1413329
Form Type: 10-Q Quarterly Report
Accession Number: 0001413329-18-000053
Submitted to the SEC: Thu Oct 25 2018 7:12:24 AM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Cigarettes

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