Companies and Brands
International Smoking on the Decline? (PM, MO)
Published:
Last Updated:
Philip Morris International Inc. (NYSE: PM) is presenting at the Morgan Stanley Global Consumer & Retail Conference in New York. An SEC filing shows that Chairman & CEO Louis Camilleri is reaffirming last month’s guidance targets. What is more important is the outlook for smoking rates. Many investors still consider smoking on an international basis a growth business, but the company is seeing declines.
The international tobacco giant sees organic volumes declining by 2.0% to 2.5% in 2010 and the company is expected to show its outlook for 2011 to 2013 in OECD and non-OECD markets. Before considering that smoking is on the way out, not all markets are shrinking. The company says volume is growing in select markets and how the focus on Marlboro is increasing market share.
The guidance was reaffirmed from October 21 for growth of 20% to 22% to a range of $3.90 to $3.95 EPs for 2010; excluding currency that earnings growth rate will be about 16% to 18%. To grow profits annually, the company has outlined how managing costs, investments, and regulations all have to be managed. The government budget excise taxes are expected to rise in Europe and beyond, with tax increases expected in Russia, Mexico, and elsewhere.
Altria Group Inc. (NYSE: MO) has managed to weather tighter regulation and billions upon billions in fines while the number of smokers in America continues to decline.
Some other factoids from the presentation slides from Phillip Morris International:
Full slide show showing 2011 to 2013 targets is here.
JON C. OGG
Retirement planning doesn’t have to feel overwhelming. The key is finding professional guidance—and we’ve made it easier than ever for you to connect with the right financial advisor for your unique needs.
Here’s how it works:
1️ Answer a Few Simple Questions
Tell us a bit about your goals and preferences—it only takes a few minutes!
2️ Get Your Top Advisor Matches
This tool matches you with qualified advisors who specialize in helping people like you achieve financial success.
3️ Choose Your Best Fit
Review their profiles, schedule an introductory meeting, and select the advisor who feels right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.