Philip Morris: weak start to 2017.

(CercleFinance.com) - After mixed performance in Q4 2016, Philip Morris began 2017 cautiously, as reflected in its Q1 results, which were released before Wall Street opened on Thursday.


The cigarette manufacturer reported adjusted EPS of 1.02 dollar, up 4 cents relative to Q1 2016. Excluding non-recurrent items, EPS nevertheless stood at 97 cents, 6 cents short of the consensus.

Similarly, revenues fell 0.3% to 6.1 billion dollars, while the consensus was expecting sales to increase to around 6.5 billion dollars.

However, Philip Morris expects its revenues to grow by 4% to 6% for the current year.


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