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Philip Morris CR profit misses consensus by 59.1% in H1

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Philip Morris CR profit misses consensus by 59.1% in H1

Philip Morris CR as said its first-half normalized net income amounted to 375.03 Czech koruny per share, compared with the S&P Capital IQ consensus estimate of 916.00 koruny per share.

EPS increased 27.5% year over year from 294.23 koruny.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.03 billion koruny, a gain of 27.4% from 808.8 million koruny in the prior-year period.

Total revenue fell 20.2% on an annual basis to 5.11 billion koruny from 6.40 billion koruny, and total operating expenses decreased 32.1% year over year to 3.46 billion koruny from 5.10 billion koruny.

Reported net income increased 27.9% from the prior-year period to 1.34 billion koruny, or 489.00 koruny per share, from 1.05 billion koruny, or 382.00 koruny per share.

As of Aug. 20, US$1 was equivalent to 24.13 Czech koruny.