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Philip Morris International Inc. (PM) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Philip Morris International Inc.

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
 
 
Email: InvestorRelations@pmi.com
 
 
 
 
PHILIP MORRIS INTERNATIONAL INC. REPORTS 2019 THIRD-QUARTER RESULTS;
REVISES, FOR A TAX CHARGE OF $0.20 PER SHARE IN RUSSIA, 2019 FULL-YEAR REPORTED DILUTED EPS FORECAST TO AT LEAST $4.73 VS. $5.08 IN 2018, REFLECTING CURRENCY-NEUTRAL LIKE-FOR-LIKE ADJUSTED DILUTED EPS GROWTH OF AT LEAST 9.0%

NEW YORK, October 17, 2019 – Philip Morris International Inc. (NYSE: PM) today announces its
2019 third-quarter results and revises its 2019 full-year reported diluted earnings per share forecast. Comparisons presented in this press release on a "like-for-like" basis reflect pro forma 2018 results, which have been adjusted for the deconsolidation of PMI's Canadian subsidiary, Rothmans, Benson & Hedges, Inc. (RBH), effective March 22, 2019 (the date of deconsolidation). In addition, reflecting the deconsolidation, PMI's total market share has been restated for previous periods.
2019 THIRD-QUARTER & YEAR-TO-DATE HIGHLIGHTS
2019 Third-Quarter
Reported diluted EPS of $1.22, down by 15.3%; also down by 15.3%, excluding currency
Adjusted diluted EPS of $1.43, down by 0.7%; up by 5.9% on a like-for-like basis, excluding currency
Cigarette and heated tobacco unit shipment volume down by 2.1%, reflecting cigarette shipment volume down by 5.9% and heated tobacco unit shipment volume up by 84.8%; on a like-for-like basis, cigarette and heated tobacco unit shipment volume down by 1.4%
Market share of heated tobacco units in IQOS markets, excluding the U.S., up by 1.3 points to 5.1%
A charge of approximately $0.20 per share related to an excise tax and Value Added Tax (VAT) audit in Russia
Net revenues up by 1.8%; up by 7.0% on a like-for-like basis, excluding currency
Operating income down by 11.7%; down by 11.3%, excluding currency
Adjusted operating income up by 8.0% on a like-for-like basis, excluding currency
Adjusted operating income margin up by 0.4 points to 41.2% on a like-for-like basis, excluding currency
Increased the regular quarterly dividend by 2.6% to an annualized rate of $4.68 per common share
IQOS introduced for sale in the U.S. following its marketing order authorization by the U.S. Food and Drug Administration
New IQOS 3 DUO device introduced for sale in Japan as part of a planned introduction in most IQOS markets by year-end 2019
2019 Nine Months Year-to-Date
Reported diluted EPS of $3.57, down by 7.3%; down by 3.9%, excluding currency
Adjusted diluted EPS of $3.97, up by 3.1%; up by 11.7% on a like-for-like basis, excluding currency



The following information was filed by Philip Morris International Inc. (PM) on Thursday, October 17, 2019 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 2019 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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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)
Asset Impairment And Exit Costs
Asset Impairment And Exit Costs (Details)
Asset Impairment And Exit Costs (Tables)
Background And Basis Of Presentation
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)
Deconsolidation Of Rbh
Deconsolidation Of Rbh (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, Equity Securities And Debt (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 Derivative 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 (Amortization Expense) (Details)
Goodwill And Other Intangible Assets, Net (Movement In Goodwill) (Details)
Goodwill And Other Intangible Assets, Net (Other Intangible Assets) (Details)
Goodwill And Other Intangible Assets, Net (Tables)
Income Taxes
Income Taxes (Details)
Indebtedness
Indebtedness (Credit Facilities) (Details)
Indebtedness (Debt Issuances During Current Period) (Details)
Indebtedness (Long-Term Debt) (Details)
Indebtedness (Narrative) (Details)
Indebtedness (Tables)
Investments In Unconsolidated Subsidiaries, Equity Securities And Other Related Parties
Investments In Unconsolidated Subsidiaries, Equity Securities And Other Related Parties (Balance Sheet And Earnings Activity) (Details)
Investments In Unconsolidated Subsidiaries, Equity Securities And Other Related Parties (Narrative) (Details)
Investments In Unconsolidated Subsidiaries, Equity Securities And Other Related Parties (Tables)
Leases
Leases (Details)
Leases (Tables)
New Accounting Standards
New Accounting Standards (Leases) (Details)
New Accounting Standards (Policies)
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)

Material Contracts, Statements, Certifications & more

Philip Morris International Inc. provided additional information to their SEC Filing as exhibits

Ticker: PM
CIK: 1413329
Form Type: 10-Q Quarterly Report
Accession Number: 0001413329-19-000071
Submitted to the SEC: Thu Oct 24 2019 3:05:38 AM EST
Accepted by the SEC: Thu Oct 24 2019
Period: Monday, September 30, 2019
Industry: Cigarettes

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