The company said Q2 net revenues rose 5.6% to $9,468 million (organic 9.6%), operating income rose 34.2% to $3,444 million, and adjusted diluted EPS fell 0.6% to $1.59 (up 10.6% excluding currency).

1. 01

   The company said Q2 net revenues rose 5.6% to $9,468 million (organic 9.6%), operating income rose 34.2% to $3,444 million, and adjusted diluted EPS fell 0.6% to $1.59 (up 10.6% excluding currency).

2. 02

   The company raised its full-year outlook, giving reported diluted EPS guidance of $5.89 to $6.01 and adjusted diluted EPS guidance of $6.33 to $6.45. Excluding the $0.34 currency impact, adjusted diluted EPS is expected to be $6.67 to $6.79, which represents an increase of 11.0% to 13.0% over adjusted diluted EPS of $6.01 in 2023.

3. 03

   The company said the smoke-free business accounted for 38.1% of total net revenues in Q2, with net revenues up 13.6%, and U.S. ZYN shipments rose 50.3% to 135.1 million cans.

4. 04

   PMI expects full-year operating cash flow of about $11 billion at prevailing exchange rates, subject to year-end working capital requirements, and capital expenditures of about $1.3 billion to $1.4 billion. It said it will make no share repurchases in 2024.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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