Philip Morris International Inc. Presents at the CAGNY Conference; Reaffirms 2018 Full-Year Reported
( / Paris Euronext: PM) Chief
Executive Officer, , Chief Operating Officer, , and Chief Financial Officer, , address investors
today at the in , USA.
The presentation and Q&A session are being webcast live, in a
listen-only mode, beginning at approximately , at ,
and on the PMI Investor Relations App available at .
An archived copy of the webcast, together with presentation remarks and
slides, will be available on the same site and the App.
The presentation will provide an overview of the company’s: strategy for a smoke-free future; key success factors; strong combustible business; operating model and investment plans for driving the commercial success of its reduced-risk products; and its 2018 financial outlook, including capital structure and shareholder return priorities.
The company reaffirms its 2018 reported diluted EPS guidance, announced
on , for 2018 full-year reported diluted earnings per share to
be in a range of to , versus in 2017. Excluding a
favorable currency impact, at then-prevailing rates, of approximately
per share, the reported diluted EPS range represents an increase
of approximately 7% to 10% versus adjusted diluted EPS of in 2017.
Adjusted diluted earnings per share of in 2017 is calculated as
reported diluted EPS of , plus tax items of per share
primarily related to the implementation of the Tax Cuts and Jobs Act.
As communicated on , the company anticipates reported diluted
EPS of approximately in the first quarter of 2018, including
approximately of favorable currency, at then-prevailing rates.
The presentation, related discussion and this release contain statements
that, to the extent they do not relate strictly to historical or current
facts, constitute "forward-looking statements" within the meaning of the
Safe Harbor Provisions of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements are based on current plans,
estimates and expectations, and are not guarantees of future
performance. They are based on management's expectations that involve a
number of business risks and uncertainties, any of which could cause
actual results to differ materially from those expressed in or implied
by the forward-looking statements. The risks and uncertainties relating
to the forward-looking statements in the presentation, related
discussion and this release include those described under Item 1A. “Risk
Factors” in PMI’s Form 10-K for the year ended , filed
with the . PMI does not undertake to
publicly update or revise any forward-looking statements, except in the
normal course of its public disclosure obligations.
: Who We Are
We are a leading international tobacco company engaged in the
manufacture and sale of cigarettes and other nicotine-containing
products in markets outside . We’re building
our future on smoke-free products that are a much better consumer choice
than continuing to smoke cigarettes. Through multidisciplinary
capabilities in product development, state-of-the-art facilities and
scientific substantiation, we aim to ensure that our smoke-free products
meet adult consumer preferences and rigorous regulatory requirements.
Our vision is that these products ultimately replace cigarettes to the
benefit of adult smokers, society, our company and our shareholders. For
more information, see
: +1 (917) 663 2233Lausanne:
+41 (0)58 242 4666orLausanne: +41 (0)58
242 4500Investor Relations:Media:
- This 2018 forecast assumes: currency-neutral net revenue growth of
over 8%, operating cash flow of over ; capital
expenditures of approximately ; and no share repurchases.
This forecast excludes the impact of any future acquisitions,
unanticipated asset impairment and exit cost charges, future changes
in currency exchange rates, further developments related to the Tax
Cuts and Jobs Act, and any unusual events.
$9.0 billion $1.7 billion
- The company notes that, while currency spot rates have moved in a
favorable direction since it provided guidance on , these
rates remain volatile. The company will revisit the impact of currency
when it provides EPS guidance with its first quarter earnings results
February 8 April 19
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