2024-02-11 04:13:34 ET
Summary
- We review Philips Morris' latest Q4 earnings report.
- Strong growth for smoke-less products is balancing weaker trends in global cigarette sales.
- We see value in the stock's 5.9% dividend yield, which remains well supported by underlying cash flow.
Philip Morris International Inc. ( PM ) Q4 results can be described as mixed between a headline EPS miss, while revenue came in slightly above expectations. This report caps off a volatile year for the stock amid not only a tough macro environment, thinking about the impact of high-interest rates, but also the industry backdrop facing a secular decline in traditional cigarettes....
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Philip Morris International: 5.9% Yield With Less Smoke And More Value