Philip Morris International Inc. Earnings: Third Straight Quarter of Rising Profit

S&P 500 (NYSE:SPY) component Philip Morris International Inc. (NYSE:PM) reported its results for the fourth quarter. Philip Morris International is the holding company whose subsidiaries and affiliates manufacture and sell cigarettes and other tobacco products in markets outside the U.S.

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Philip Morris International Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for Philip Morris International Inc. rose to $1.89 billion ($1.08 per share) vs. $1.75 billion (96 cents per share) in the same quarter a year earlier. This marks a rise of 7.6% from the year earlier quarter.

Revenue: Rose 6% to $18.88 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: Philip Morris International Inc. reported adjusted net income of $1.10 per share. By that measure, the company beat the mean estimate of $1.08 per share. It beat the average revenue estimate of $7.38 billion.

Quoting Management: “While admittedly lifted by Japan, our 2011 results were simply superb in each and every aspect. Every single one of our top ten brands recorded volume growth, we surpassed all of our key financial performance measures and grew our global market share for the fourth year in a row. Our total shareholder return in 2011 was an impressive 39.8%, substantially outperforming the broader market indices,” said Louis C. Camilleri, Chairman and Chief Executive Officer. “Economic uncertainty, currency volatility and the year-on-year comparison of our business performance in Japan are obvious challenges in 2012. We nevertheless begin the year with solid business momentum, confident in our ability to meet our constant currency financial growth targets, and as steadfast as ever in our commitment to reward our shareholders with superior returns over the long-term.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the third quarter, net income rose 30.5% and in the second quarter, the figure rose 21.5%.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 14 cents in the third quarter, by 13 cents in the second quarter, and by 2 cents in the first quarter.

Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the first quarter of the next fiscal year has moved up from $1.15 a share to $1.16 over the last seven days. The average estimate for the fiscal year is $4.85 per share, a rise from $4.80 ninety days ago.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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