Philip Morris International will buy Grupo Carso’s 20 percent share in Philip Morris Mexico (PMM)) for approximately $700 million. The purchasing price is subject to a potential adjustment based on PMM’s performance over three years ending two fiscal years after the closing of the purchase. The transaction, which will give PMI a 100 percent share [...]
Philip Morris International is due to host a live audio webcast at www.pmi.com/webcasts of its remarks and question-and-answer session by CFO Jacek Olczak at the Goldman Sachs Consumer Products Symposium on May 14, starting about 9:05 a.m. Eastern Time. The webcast, which will be in listen-only mode, will provide live audio of the entire PMI session. An [...]
Philip Morris International held its annual meeting of shareholders today. Louis C. Camilleri, chairman of the board and CEO, addressed shareholders and answered questions. Chief Operating Officer André Calantzopoulos gave the business presentation, focusing on PMI’s performance since its spin-off in March 2008, which has seen total shareholder return reach 135 percent through April 30, [...]
The first quarter of 2013 has come and gone, and with it, a UBS-CSP survey of a variety of convenience store operators–whose sizes ranged from one store location to more than five hundred—on a range of tobacco-related issues. The exclusive study brought good news for industry leader Philip Morris and even better news for the [...]
Tobacco giant Philip Morris International Inc. Thursday reported a decline in first-quarter profit, reflecting higher costs. Meanwhile, earnings per share improved from last year. The company also lowered its full-year 2013 earnings outlook for prevailing exchange rates only, according to a story on RTTNews.com. However, the firm reiterated its annual constant-currency adjusted diluted earnings per [...]
Philip Morris International Inc., which sells Marlboro and other brands abroad, is expected to report higher profit and revenue when it releases its first-quarter results before the market opens on Thursday. Whether cutting costs and raising prices continued to help PMI compensate for consumers buying fewer, or cheaper, cigarettes has investors anticipating the announcement. Cigarette [...]
Philip Morris International is strengthening its long-term commitment to the future of tobacco growing in Spain by renewing its Framework Collaboration Agreement with the Spanish Ministry for Agriculture, Food and the Environment for the next three years, the company said last week. “As part of the new Agreement signed today in Madrid and subject to [...]
André Calantzopoulos has been appointed CEO of Philip Morris International. Calantzopoulos has served as PMI’s chief operating officer since the company’s spin-off in March 2008. Louis Camilleri, PMI’s previous CEO, will remain as chairman of the board and as an employee of the company. Since the spin-off, Camilleri and Calantzopoulos have worked closely together in their respective [...]
Philip Morris International reported net revenues, excluding excise taxes, of $7.9 billion in the third quarter of 2012, down 5.3 percent from the comparable 2011 quarter. Its cigarette shipment volume was down by 1.3 percent. Operating companies’ income was down 1.5 percent, to $3.7 billion. Excluding the impact of currency exchange rates and acquisitions, reported [...]
