Philip Morris International Ups Annual Earnings View

(RTTNews) - Philip Morris International Inc.(PM) on Wednesday said it raised earnings outlook for the full-year 2021.

The company now expects full-year EPS to be in the range of $5.74 - $5.79, at prevailing exchange rates, higher than $5.77 - $5.82 previously provided.

On an adjusted basis, excluding currency, Philip Morris expects earnings to be in the range of $5.84-$5.89. On average sixteen analysts polled by Thomson Reuters expect the company to report earnings of $6.08 per share. Analysts' estimates typically exclude special items.

"We are seeing strong IQOS momentum despite the ongoing impact of the semiconductor supply shortage and expect improved sequential IQOS user growth in the fourth quarter. Importantly, we remain confident in our 2021 to 2023 organic compound annual growth targets," said Jacek Olczak, Chief Executive Officer.

The company's Chief Financial Officer, Emmanuel Babeau is expected to addresses investors today at the Morgan Stanley Virtual Global Consumer & Retail Conference.