Philip Morris reports Q1 adjusted EPS $1.69, consensus $1.61

Reports Q1 revenue $9.3B, consensus $9.14B. “We achieved exceptionally strong performance in the first quarter, with continued volume growth supporting an excellent top-line performance and very strong margin expansion,” said Jacek Olczak, Chief Executive Officer. “Our smoke-free business goes from strength to strength, delivering organic growth of over 20% in net revenues and over 33% in gross profit. We remain confident in our ability to deliver superior results, despite an uncertain and volatile global economic environment, and now forecast double-digit adjusted diluted EPS growth in dollar terms for the full-year.”