What Analysts Expect from Philip Morris in the Next Four Quarters

Wall Street analysts expect Philip Morris International (PM) to post revenues of $30.14 billion in the next four quarters, which represents a fall of 0.8% from $30.39 billion in the corresponding four quarters of the previous year. Philip Morris’s management has lowered its currency-neutral net revenue growth for 2018 to be 3.0%–4.0% from an earlier estimate of 8.0%. The downward revision of the sales forecast of iQOS and heated tobacco unit shipments in Japan, as well as shifting the affiliate in Argentina to highly inflationary accounting, led to the reduction of its sales growth guidance.