8-KRegulation FDOther EventsExhibits & Filings

Philip Morris International Inc. 8-K Report, Regulation FD Disclosure (Jun 23, 2010)

Filed June 23, 2010For Securities:PM

Summary

Philip Morris International Inc. (PM) filed an 8-K on June 23, 2010, announcing key information presented at their two-day investor meeting. The primary focus for investors is the upward revision of the company's 2010 full-year reported diluted earnings per share (EPS) forecast. The new guidance is set at a range of $3.70 to $3.80, representing an anticipated increase of 14% to 17% compared to the $3.24 reported in 2009. This represents an upgrade from the previous forecast of 10% to 13% provided in April 2010.

Key Highlights

  • 1PMI revised its 2010 full-year EPS forecast upward to $3.70-$3.80.
  • 2This new EPS forecast represents an expected growth of 14%-17% over 2009's reported EPS of $3.24.
  • 3The increased EPS projection is attributed to an improved business outlook, particularly in Japan.
  • 4A positive impact from the reversal of certain tax provisions also contributed to the raised forecast.
  • 5Adverse currency fluctuations are expected to negatively impact EPS by approximately $0.20.
  • 6The guidance excludes potential impacts from future acquisitions, asset impairments, exit cost charges, and unusual events.
  • 7The information was disclosed in connection with the Company's 2010 Investor Day meeting.

Frequently Asked Questions

The main financial update is the upward revision of Philip Morris International's 2010 full-year reported diluted earnings per share (EPS) forecast. The new range is $3.70 to $3.80, an increase from the prior guidance and representing significant projected growth over 2009.

The improved forecast is driven by an enhanced business outlook, notably in Japan, and a positive effect from the reversal of certain tax provisions. These factors are expected to boost earnings per share.

Yes, adverse currency fluctuations are expected to have a negative impact on the EPS forecast, reducing it by approximately $0.20 per share.

The provided EPS guidance excludes the impact of any potential future acquisitions, asset impairment and exit cost charges, and any unusual events. Investors should consider these potential variables when evaluating the company's future performance.