PHILIP MORRIS INTERNATIONAL INC (PM, Financial) filed Quarterly Report for the period ended 2010-09-30.
Philip Morris International Inc has a market cap of $108.96 billion; its shares were traded at around $60.82 with a P/E ratio of 16 and P/S ratio of 1.7. The dividend yield of Philip Morris International Inc stocks is 4.3%.PM is in the portfolios of Tom Russo of Gardner Russo & Gardner, Tweedy Browne of Tweedy Browne CO LLC, David Winters of Wintergreen Advisors, Ronald Muhlenkamp of Muhlenkamp Fund, Jeff Auxier of Auxier Focus Fund, Murray Stahl of Horizon Asset Management, James Barrow of Barrow, Hanley, Mewhinney & Strauss, NWQ Managers of NWQ Investment Management Co, HOTCHKIS & WILEY of HOTCHKIS & WILEY Capital Management LLC, Jeremy Grantham of GMO LLC, Paul Tudor Jones of The Tudor Group, Chris Davis of Davis Selected Advisers, John Buckingham of Al Frank Asset Management, Inc., Bruce Kovner of Caxton Associates, David Dreman of Dreman Value Management, Tom Gayner of Markel Gayner Asset Management Corp, Pioneer Investments, Jim Simons of Renaissance Technologies LLC, Ruane Cunniff of Ruane & Cunniff & Goldfarb Inc, Donald Yacktman of Yacktman Asset Management Co., Steven Cohen of SAC Capital Advisors, George Soros of Soros Fund Management LLC, Manning & Napier Advisors, Inc, RS Investment Management, Jean-Marie Eveillard of First Eagle Investment Management, LLC, Bill Frels of Mairs & Power Inc. , Dodge & Cox, Kenneth Fisher of Fisher Asset Management, LLC.
Colombian Investment and Cooperation Agreement charge During the second quarter of 2009, we recorded a pre-tax charge of $135 million ($93 million after tax) related to the Investment and Cooperation Agreement in Colombia. The charge was recorded in the operating companies income of the Latin America & Canada segment. For further details, see Note 15. Colombian Investment and Cooperation Agreement to our condensed consolidated financial statements.
2010 Forecasted Results On October 21, 2010, we increased and narrowed our forecast for 2010 full-year reported diluted EPS to a range of $3.90 to $3.95, up by approximately 20% to 22% compared to $3.24 in 2009, driven by favorable currency at prevailing rates at that date, an improved business performance and a lower tax rate. Excluding currency, reported diluted earnings per share are projected to increase by approximately 16% to 18%. This guidance includes $0.07 per share for the previously discussed reversal of tax provisions, largely due to the completion of U.S. tax audits, and $0.01 per share for asset impairment and exit costs related to restructuring charges in Greece and Portugal. This guidance excludes the impact of any potential future acquisitions, asset impairment and exit cost charges, and any unusual events. The factors described in the Cautionary Factors That May Affect Future Results section of the following Discussion and Analysis represent continuing risks to this forecast.
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Philip Morris International Inc has a market cap of $108.96 billion; its shares were traded at around $60.82 with a P/E ratio of 16 and P/S ratio of 1.7. The dividend yield of Philip Morris International Inc stocks is 4.3%.PM is in the portfolios of Tom Russo of Gardner Russo & Gardner, Tweedy Browne of Tweedy Browne CO LLC, David Winters of Wintergreen Advisors, Ronald Muhlenkamp of Muhlenkamp Fund, Jeff Auxier of Auxier Focus Fund, Murray Stahl of Horizon Asset Management, James Barrow of Barrow, Hanley, Mewhinney & Strauss, NWQ Managers of NWQ Investment Management Co, HOTCHKIS & WILEY of HOTCHKIS & WILEY Capital Management LLC, Jeremy Grantham of GMO LLC, Paul Tudor Jones of The Tudor Group, Chris Davis of Davis Selected Advisers, John Buckingham of Al Frank Asset Management, Inc., Bruce Kovner of Caxton Associates, David Dreman of Dreman Value Management, Tom Gayner of Markel Gayner Asset Management Corp, Pioneer Investments, Jim Simons of Renaissance Technologies LLC, Ruane Cunniff of Ruane & Cunniff & Goldfarb Inc, Donald Yacktman of Yacktman Asset Management Co., Steven Cohen of SAC Capital Advisors, George Soros of Soros Fund Management LLC, Manning & Napier Advisors, Inc, RS Investment Management, Jean-Marie Eveillard of First Eagle Investment Management, LLC, Bill Frels of Mairs & Power Inc. , Dodge & Cox, Kenneth Fisher of Fisher Asset Management, LLC.
Highlight of Business Operations:
Income Taxes Our effective income tax rate for the nine months ended September 30, 2010 decreased 2.3 percentage points to 27.0%. The effective tax rate for the nine months ended September 30, 2010 was favorably impacted by the reversal of tax reserves ($148 million) following the conclusion of the IRS examination of Altria Group, Inc.s consolidated tax returns for the years 2000 through 2003, partially offset by the negative impact of an enacted increase in corporate income tax rates in Greece ($21 million) and the net result of an audit in Italy ($6 million).Colombian Investment and Cooperation Agreement charge During the second quarter of 2009, we recorded a pre-tax charge of $135 million ($93 million after tax) related to the Investment and Cooperation Agreement in Colombia. The charge was recorded in the operating companies income of the Latin America & Canada segment. For further details, see Note 15. Colombian Investment and Cooperation Agreement to our condensed consolidated financial statements.
2010 Forecasted Results On October 21, 2010, we increased and narrowed our forecast for 2010 full-year reported diluted EPS to a range of $3.90 to $3.95, up by approximately 20% to 22% compared to $3.24 in 2009, driven by favorable currency at prevailing rates at that date, an improved business performance and a lower tax rate. Excluding currency, reported diluted earnings per share are projected to increase by approximately 16% to 18%. This guidance includes $0.07 per share for the previously discussed reversal of tax provisions, largely due to the completion of U.S. tax audits, and $0.01 per share for asset impairment and exit costs related to restructuring charges in Greece and Portugal. This guidance excludes the impact of any potential future acquisitions, asset impairment and exit cost charges, and any unusual events. The factors described in the Cautionary Factors That May Affect Future Results section of the following Discussion and Analysis represent continuing risks to this forecast.
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