Benzinga
Cigarette Maker Philip Morris Q2 Earnings Smashes Estimates
Marlboro-maker Philip Morris International Inc (NYSE: PM) reported second-quarter FY22 sales growth of 3.1% year-on-year, to $7.83 billion, beating the analyst consensus of $6.67 billion. Cigarette and heated tobacco unit shipment volume in Q2 rose by 1.1% Y/Y, with 15.7% growth in the Middle East & Africa. Marlboro cigarette shipment volume increased 7.2%, mainly driven by PMI Duty-Free, Russia, and Turkey. Chesterfield shipment volume jumped 19.7%, and Sampoerna A saw a 6.5% hike. Pro forma to
