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Deej's Top Pick Update: Philip Morris International reports great first quarter results

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April 23, 2008 – Comments (2) | RELATED TICKERS: MO

Philip Morris International's first quarter results, its first since being spun-off from Altria, look great. Its Q1 earnings rose 29.2% during the quarter to $0.89 per share, soundly beating the $0.77 per share that analysts were looking for. PM sold 2.2% more cigarettes last quarter than it did during the same period a year ago. The strength in PM's business was spread across all of its geographic segments, with each experiencing double-digit revenue and income growth. Currency benefits provided the company with a significant tailwind.

As if that news wasn't good enough, PM also raised its guidance for the year. It now espects its earnings for all of 2008 to rise by 14% to 16% to $3.18 to $3.24 per share.

In addition to talking about its results, Philip Morris International announced that it is purchasing several cigarette brands from Imperial Tobacco, including Bergerac, Interval, Picadura, and Van Nelle for $405 million.

Deej
Long PM

2 Comments – Post Your Own

#1) On April 23, 2008 at 2:46 PM, DemonDoug (85.56) wrote:

Deej, I swear the two of us should start a mutual fund.  I bought 26 shares of PM in my Roth about 2 weeks ago.  Trying to get my total position up to at least 100 shares, and likely more.  (see my most recent blog for specifics.)  Seems like our investing philosophies were split off of the same zygote. :)

DemonDoug, also long PM

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#2) On April 23, 2008 at 3:07 PM, TMFDeej (99.40) wrote:

Hey Doug.  Great minds think alike ;).  I hope that we are on to something big with PM.  Our graphs are pretty much the same shape in CAPS.  Your accuracy's a lot better than mine though.  Perhaps it has something to do with the fact that I always have 200 picks :).  I can't help it, I get to buy stock in 200 different companies for free.

Deej

Long PM & MO

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