Philip Morris stock gains after profit and revenue beat expectations, overall shipments rise 2.1%

Shares of Philip Morris International Inc. PM, -0.94% roseate 0.6% successful premarket trading Tuesday, aft the cigaret and baccy institution reported third-quarter nett and gross that roseate supra expectations, arsenic wide shipment measurement increased. The institution reported operating income that roseate 6.5% from a twelvemonth agone to $3.46 billion, and net per stock that grew to $1.55 from $1.48. Excluding nonrecurring items, adjusted EPS roseate 11.3% to $1.58 to apical the FactSet statement of $1.56. Revenue accrued 9.1% to $8.12 billion, supra the FactSet statement of $7.94 billion, portion outgo of income roseate 7.5% to $2.60 billion. Overall shipment measurement roseate 2.1% to 188.33 cardinal units, arsenic a 23.8% surge successful heated baccy shipments to 23.49 cardinal units offset a 0.4% diminution successful cigaret shipments to 164.84 cardinal units. Looking ahead, the institution said it expects adjusted EPS toward the upper-half of antecedently provided guidance. "We corroborate our assurance successful our 2021 to 2023 maturation targets, contempt instrumentality constraints that could persist into the archetypal fractional of 2022, with temporarily little IQOS idiosyncratic maturation rates," said Chief Executive Jacek Olczak. The banal has slipped 0.4% implicit the past 3 months done Monday portion the S&P 500 SPX, +0.34% has gained 5.4%.