$199.470
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Sees FY26 Net Revenue Growth of 5%-7%
Sees FY26 net revenue growth 5%-7% on organic basis.
Stock Futures Rise as Brent Crude Surpasses $110
Stock futures are pointing higher as investors weigh corporate earnings against oil prices that are climbing again. Brent crude is above $110 a barrel and West Texas Intermediate near $99 as attacks on shipping around the Strait of Hormuz heighten concerns about global supply disruptions. An unexpectedly large drawdown in U.S. crude inventories is adding to upward pressure on prices and elevated energy costs are reinforcing inflation concerns.The earnings calendar remains the primary driver of individual stock moves with Meta, Tesla, Texas Instruments and Lam Research among the companies due to report after the close.In pre-market trading, S&P 500 futures rose 0.28%, Nasdaq futures rose 0.58% and Dow futures rose 0.31%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Super Microup 12% after raising Q1 revenue guidanceUP AFTER EARNINGS -SpaceXup 8%Capital Oneup 3%Southwestup 1%United Airlinesup 1%DOWN AFTER EARNINGS -Intuitive Surgicaldown 6%Netflixdown 6%Abbottdown 4%AT&Tdown 4%Danaherdown 3%Thermo Fisherdown 2%Philip Morrisdown 2%
EPS Guidance Excludes Currency Impact
EPS guidance is ex-currency.
2026 Full-Year Forecast: Net Revenue Growth of 5% to 7%
2026 Full-Year forecast assumptions: Growing (previously broadly stable to slightly growing) total PMI cigarette and SFP shipment volume, with high single-digit SFP shipment growth, led by high single-digit SFP adjusted IMS growth, and a cigarette shipment volume decline at a similar level to the year-to-date trend (previously around 2% to 3%); Net revenue growth of 5% to 7% on an organic basis; with a greater likelihood to be in the middle or upper-half of the range, supported by a fourth-quarter reacceleration in international smoke-free; Organic operating income growth of 7% to 9%; with a greater likelihood to be in the middle or lower-half of the range, with a corresponding flow through to our EPS forecast range, given the cost impacts of ongoing geopolitical tensions and the previously communicated step-up in U.S. growth investments; Full-year amortization of acquired intangibles of $0.50 per share; Broadly stable net financing costs; An effective tax rate, excluding discrete tax events, of around 21.5%; Operating cash flow around $13.5 billion at prevailing exchange rates, subject to year-end working capital requirements; Capital expenditures of $1.4 to $1.6 billion, predominantly supporting the smoke-free business; Further net debt to adjusted EBITDA ratio improvement as we target a ratio of close to 2.0x by the end of 2026, at prevailing exchange rates; and no share repurchases.
PMI Reports Q3 Revenue of $11.4B, Exceeds Expectations
Reports Q3 revenue $11.4B, consensus $11.34B. "We delivered another excellent quarter, with growing total volumes, double-digit organic operating income growth and robust margin expansion," said Jacek Olczak, Group CEO PMI. "With continued strong offtake momentum for our smoke-free brands and the exceptional results of our combustible business, we are in a strong position to continue delivering best-in-class performance, and firmly on track for a sixth consecutive year of volume growth."
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