Summary
Philip Morris International Inc. (PM) filed an 8-K on November 19, 2014, to announce its participation in the Morgan Stanley Global Consumer & Retail Conference. The primary purpose of this filing is to provide investors with access to a presentation by CEO André Calantzopoulos, including a press release with key highlights. This event offers insights into the company's performance and strategic direction directly from its leadership.
Key Highlights
- 1PMI CEO André Calantzopoulos to present at the Morgan Stanley Global Consumer & Retail Conference on November 19, 2014.
- 2The company issued a press release containing key highlights from the presentation, attached as Exhibit 99.1.
- 3The filing serves as a conduit for investors to access important company information and management commentary.
- 4PMI clarifies its use of 'Adjusted diluted EPS,' defining it as reported diluted EPS adjusted for specific non-recurring items (asset impairment/exit costs, discrete tax items, unusual items).
- 5The company states that Adjusted diluted EPS is a non-U.S. GAAP measure used to represent core earnings and improve comparability.
- 6PMI emphasizes that Adjusted diluted EPS should not be viewed in isolation or as a substitute for U.S. GAAP reported diluted EPS.
- 7Information referenced on PMI's website, including the conference presentation, is not considered part of the 8-K filing unless expressly incorporated.
Frequently Asked Questions
Philip Morris International (PMI) is filing this 8-K to inform investors about its CEO's presentation at the Morgan Stanley Global Consumer & Retail Conference and to provide a press release with key highlights from that presentation, allowing investors to stay informed about the company's performance and strategy.
PMI defines 'Adjusted diluted EPS' as its reported diluted Earnings Per Share (EPS) that has been adjusted to exclude specific items such as asset impairment and exit costs, discrete tax items, and other unusual items. They use this metric to represent core earnings and enhance comparability for investors.
No, 'Adjusted diluted EPS' is not a U.S. GAAP (Generally Accepted Accounting Principles) measure. PMI believes it is useful for analysis, but investors should consider it alongside, and not as a replacement for, their reported diluted EPS prepared under U.S. GAAP.
The key highlights are detailed in a press release issued by PMI, dated November 19, 2014, which is attached as Exhibit 99.1 to this 8-K filing. Investors should refer to this exhibit for the specific information.