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Yahoo
14 hours ago
- Business
- Yahoo
Philip Morris International Participates in dbAccess Global Consumer Conference
Reaffirms 2025 Full-Year Forecast for Reported Diluted EPS of $7.01 to $7.14 and Adjusted Diluted EPS of $7.36 to $7.49, Representing Growth of 12% to 14%, 10.5% to 12.5% Excluding Currency STAMFORD, CT, June 03, 2025--(BUSINESS WIRE)--Regulatory News: Philip Morris International Inc.'s (PMI) (NYSE: PM) Chief Financial Officer, Emmanuel Babeau, will address investors today at the 2025 dbAccess Global Consumer Conference in Paris. The event will be webcast live in listen-only mode, beginning at approximately 11:15 a.m. CEST (5:15 a.m. EST), at and on the PMI Investor Relations Mobile Application ( An archived copy of the webcast will be available for approximately one year. 2025 Full-Year Forecast PMI reaffirms its 2025 full-year reported diluted EPS forecast, announced on April 23, 2025, of $7.01 to $7.14. Excluding a total 2025 adjustment of $0.35 per share and a favorable currency impact, at then-prevailing exchange rates, of $0.10 per share, this forecast represents a projected currency-neutral increase of 10.5% to 12.5% versus adjusted diluted EPS of $6.57 in 2024, as outlined in the below table. The assumptions underlying this forecast remain unchanged versus those communicated by PMI in its earnings release of April 23, 2025. Factors described in the Forward-Looking and Cautionary Statements section of this release represent continuing risks to these projections. Full-Year 2025 Forecast 2024 Growth Reported Diluted EPS $7.01 - $7.14 $ 4.52 Adjustments: Restructuring charges — 0.10 Impairment of other intangibles — 0.01 Amortization of intangibles(1) 0.50 0.40 Loss on sale of Vectura Group — 0.13 Egypt sales tax charge — 0.03 Megapolis localization tax impact — 0.05 Income tax impact associated with Swedish Match AB financing (0.06) 0.14 Impairment related to the RBH equity investment — 1.49 Fair value adjustment for equity security investments (0.09) (0.27) Tax items — (0.03) Total Adjustments 0.35 2.05 Adjusted Diluted EPS $7.36 - $7.49 $ 6.57 12.0% - 14.0% Less: Currency 0.10 Adjusted Diluted EPS, excluding currency $7.26 - $7.39 $ 6.57 10.5% - 12.5% (1) See forecast assumptions in our Q1 2025 Earnings Release for details. Philip Morris International: A Global Smoke-Free Champion Philip Morris International is a leading international consumer goods company, actively delivering a smoke-free future and evolving its portfolio for the long term to include products outside of the tobacco and nicotine sector. The company's current product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, nicotine pouch and e-vapor products. As of December 31, 2024, PMI's smoke-free products were available for sale in 95 markets, and PMI estimates they were used by 38.6 million adults around the world. The smoke-free business accounted for 42% of PMI's first-quarter 2025 total net revenues. Since 2008, PMI has invested over $14 billion to develop, scientifically substantiate and commercialize innovative smoke-free products for adults who would otherwise continue to smoke, with the goal of completely ending the sale of cigarettes. This includes the building of world-class scientific assessment capabilities, notably in the areas of pre-clinical systems toxicology, clinical and behavioral research, as well as post-market studies. Following a robust science-based review, the U.S. Food and Drug Administration has authorized the marketing of Swedish Match's General snus and ZYN nicotine pouches and versions of PMI's IQOS devices and consumables - the first-ever such authorizations in their respective categories. Versions of IQOS devices and consumables and General snus also obtained the first-ever Modified Risk Tobacco Product authorizations from the FDA. With a strong foundation and significant expertise in life sciences, PMI has a long-term ambition to expand into wellness and healthcare areas and aims to enhance life through the delivery of seamless health experiences. References to "PMI", "we", "our" and "us" mean Philip Morris International Inc., and its subsidiaries. For more information, please visit and Forward-Looking and Cautionary Statements This press release contains projections of future results and goals and other forward-looking statements, including statements regarding expected financial or operational performance; capital allocation plans; investment strategies; regulatory outcomes; market expectations; business plans and strategies; and dividends. Achievement of future results is subject to risks, uncertainties and inaccurate assumptions. In the event that risks or uncertainties materialize, or underlying assumptions prove inaccurate, actual results could vary materially from those contained in such forward-looking statements. Pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, PMI is identifying important factors that, individually or in the aggregate, could cause actual results and outcomes to differ materially from those contained in any forward-looking statements made by PMI. PMI's business risks include: excise tax increases and discriminatory tax structures; increasing marketing and regulatory restrictions that could reduce our competitiveness, eliminate our ability to communicate with adult consumers, or ban certain of our products in certain markets or countries; health concerns relating to the use of tobacco and other nicotine-containing products and exposure to environmental tobacco smoke; litigation related to tobacco and/or nicotine use and intellectual property; intense competition; the effects of global and individual country economic, regulatory and political developments, natural disasters and conflicts; the impact and consequences of Russia's invasion of Ukraine; changes in adult smoker behavior; the impact of natural disasters and pandemics on PMI's business; lost revenues as a result of counterfeiting, contraband and cross-border purchases; governmental investigations; unfavorable currency exchange rates and currency devaluations, and limitations on the ability to repatriate funds; adverse changes in applicable corporate tax laws; recent and potential future tariffs imposed by the U.S. and other countries; adverse changes in the cost, availability, and quality of tobacco and other agricultural products and raw materials, as well as components and materials for our electronic devices; and the integrity of its information systems and effectiveness of its data privacy policies. PMI's future profitability may also be adversely affected should it be unsuccessful in its attempts to introduce, commercialize, and grow smoke-free products or if regulation or taxation do not differentiate between such products and cigarettes; if it is unable to successfully introduce new products, promote brand equity, enter new markets or improve its margins through increased prices and productivity gains; if it is unable to expand its brand portfolio internally or through acquisitions and the development of strategic business relationships; if it is unable to attract and retain the best global talent, including women or diverse candidates; or if it is unable to successfully integrate and realize the expected benefits from recent transactions and acquisitions. Future results are also subject to the lower predictability of our smoke-free products performance. PMI is further subject to other risks detailed from time to time in its publicly filed documents, including PMI's Annual Report on Form 10-K for the fourth quarter and year ended December 31, 2024, and the Quarterly Report on Form 10-Q for the first quarter ended March 31, 2025. PMI cautions that the foregoing list of important factors is not a complete discussion of all potential risks and uncertainties. PMI does not undertake to update any forward-looking statement that it may make from time to time, except in the normal course of its public disclosure obligations. View source version on Contacts Philip Morris International Investor Relations:Stamford, CT: +1 (203) 904 2410Lausanne: +41 582 424 666Email: InvestorRelations@ Media: David FraserLausanne: +41 582 424 500Email: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CBS News
6 days ago
- Business
- CBS News
Oakland facing years of structural budget deficits, forecast warns
Oakland is on pace to continue spending more than it earns over the next five years if the city doesn't take steps to address its ongoing structural deficit, according to a report presented to members of the City Council on Tuesday. In its annual "Five-Year Financial Forecast," Oakland's Finance Department predicts yearly budget deficits ranging from about $115 million to nearly $130 million until the end of fiscal year 2029-2030. "Rising costs for insurance, medical benefits, and pension obligations will place increasing pressure on the (general purpose fund) and other funds in future budget cycles," according to the report, which was presented to the council's Finance and Management Committee. The report will be heard by the full City Council at an upcoming meeting and is intended to help the city's leadership understand how macroeconomic trends impact the budget and to quantify the city's spending and revenue patterns. Some key findings include the expectation that property tax revenue will grow at a modest 1.6 percent next fiscal year and will reach 3 percent by the following year, and that the general fund will be supplemented by about $30 million annually after voters approved a new sales tax in April. Business tax revenue is projected to grow by 3.7 percent, hampered somewhat by the departure of Kaiser Permanente's headquarters, the Athletics baseball team and some high-profile restaurant and hotel closings, while real estate transfer tax revenue should rise by about 4 percent. Still, without adjustments, the city's spending remains unsustainable, outpacing its overall 3 percent revenue growth over the next few years, said Director of Finance Erin Roseman. "This is how you get to the definition of a structural imbalance, that the revenues are growing at a slower pace than the expenditures are," Roseman said. She also noted that President Donald Trump's recent on-again, off-again tariff wars with multiple overseas trading partners is increasing the risk of a recession over the next two to five years, which would have additional negative impacts on the city's ability to balance its budget. "As we've seen with the federal administration and its large effects on the macroeconomy, in the current few years we expect there to be downward pressure," she said. The City Council on Wednesday will hold a budget workshop to review and discuss the roughly $4.4 billion, two-year budget proposal from Councilmember Kevin Jenkins, who drafted the document while serving as interim mayor prior to the inauguration of Barbara Lee. That proposal seeks to balance the 2025-2026/2026-2027 budget by, in part, reducing the Oakland Police Department's overtime spending from a recent high of about $50 million per year to roughly $34 million next fiscal year and $38 million the year after that. It also eliminates more than 400 mostly vacant city jobs, includes fewer than a dozen actual layoffs, while anticipating additional revenue streams, including a possible $40 million-a-year parcel tax for the June 2026 ballot and bond sales of $180 million for affordable housing and $30 million for street paving. In a bit of positive financial news, the Finance and Management Committee also heard a third-quarter fiscal report Tuesday about how the city is on pace to end this fiscal year with a balanced budget, despite being "plagued with some challenges," Roseman said. That feat was achieved by the City Council's mid-cycle budget adjustments in December of 2024, the implementation of a contingency budget, temporary closure of four fire stations on a rotating basis and the transfer of some money from other areas, including an emergency reserve fund, into the city's general fund in order to eliminate a roughly $120 million deficit. "We believe that we can end this year with a marginally positive amount of $383,000, effectively balancing this fiscal year's budget," Roseman said.
Yahoo
26-05-2025
- Business
- Yahoo
Curious about Capri Holdings (CPRI) Q4 Performance? Explore Wall Street Estimates for Key Metrics
Wall Street analysts forecast that Capri Holdings (CPRI) will report quarterly loss of $0.16 per share in its upcoming release, pointing to a year-over-year decline of 138.1%. It is anticipated that revenues will amount to $982.81 million, exhibiting a decline of 19.6% compared to the year-ago quarter. Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period. Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock. While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights. Bearing this in mind, let's now explore the average estimates of specific Capri Holdings metrics that are commonly monitored and projected by Wall Street analysts. The consensus estimate for 'Revenue- Versace' stands at $195.54 million. The estimate indicates a change of -25.9% from the prior-year quarter. Analysts predict that the 'Revenue- Michael Kors' will reach $660.03 million. The estimate points to a change of -19.7% from the year-ago quarter. According to the collective judgment of analysts, 'Geographic Revenue- Americas (United States, Canada and Latin America)' should come in at $527.03 million. The estimate points to a change of -18.5% from the year-ago quarter. The combined assessment of analysts suggests that 'Geographic Revenue- Asia' will likely reach $168.26 million. The estimate indicates a change of -24.9% from the prior-year quarter. It is projected by analysts that the 'Geographic Revenue- EMEA' will reach $292.33 million. The estimate points to a change of -17% from the year-ago quarter. The average prediction of analysts places 'Income from operations- Michael Kors' at $36.42 million. Compared to the current estimate, the company reported $116 million in the same quarter of the previous all Key Company Metrics for Capri Holdings here>>>Capri Holdings shares have witnessed a change of +13% in the past month, in contrast to the Zacks S&P 500 composite's +8.2% move. With a Zacks Rank #3 (Hold), CPRI is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Capri Holdings Limited (CPRI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Forbes
14-05-2025
- Business
- Forbes
What's Next For UNH Stock After Its Recent 50% Fall?
UnitedHealth (NYSE:UNH) experienced a significant 18% stock plunge on Tuesday, May 13th, following the company's announcement that CEO Andrew Witty would step down for 'personal reasons.' Simultaneously, UnitedHealth Group suspended its 2025 financial forecast, citing increased medical costs. This sharp decline compounds recent pressure on UNH stock, which has now fallen by a substantial 50% over the past month. This downward trend was initially fueled by the company's underwhelming Q1 results and outlook. Given this dramatic 50% drop, the key question is whether UNH stock now presents a buying opportunity. Our analysis suggests that UNH stock appears attractive and represents a potentially favorable buying opportunity at its current price of approximately $310. While acknowledging some minor concerns, we believe the stock's current valuation appears low relative to its intrinsic value. Our conclusion is based on a comparative analysis of UNH stock's present valuation against its historical operating performance and its current and past financial health. Evaluating UnitedHealth across key dimensions—Growth, Profitability, Financial Stability, and Downturn Resilience—reveals a company with robust operating performance and a strong financial condition, as elaborated below. However, for investors who seek lower volatility than individual stocks, the Trefis High-Quality portfolio presents an alternative - having outperformed the S&P 500 and generated returns exceeding 91% since its inception. Separately, see – Drug Price Regulations: Is Pfizer Stock A Buy Or Sell? Going by what you pay per dollar of sales or profit, UNH stock looks cheap compared to the broader market. UnitedHealth's Revenues have seen notable growth over recent years. UnitedHealth's profit margins are much worse than most companies in the Trefis coverage universe. UnitedHealth's balance sheet looks fine. UNH stock has been more resilient than the benchmark S&P 500 index during some of the recent downturns. Worried about the impact of a market crash on UNH stock? Our dashboard How Low Can UnitedHealth Stock Go In A Market Crash? has a detailed analysis of how the stock performed during and after previous market crashes. In summary, UnitedHealth's performance across the parameters detailed above is as follows: - Growth: Very Strong - Profitability: Very Weak - Financial Stability: Neutral - Downturn Resilience: Very Strong - Overall: Neutral Considering its strong performance across the key parameters of Growth, Profitability, Financial Stability, and Downturn Resilience, coupled with its currently low valuation, UNH stock appears attractive. This reinforces our conclusion that UNH presents a favorable buying opportunity. Undoubtedly, risks exist, with the most significant being the elevated medical costs and their potential impact on the company's short-term profitability. However, we believe this concern is already largely reflected in the stock's current price. In our view, the 50% correction was an overreaction. Regarding the CEO transition, it's important to note that Andrew Witty will be succeeded by Stephen Hemsley, who has served as UnitedHealth Group's CEO from 2006 to 2017 and has been with the company since 1997, overseeing its significant growth into a major health conglomerate. This suggests a degree of continuity and experience at the leadership level. While UNH stock looks promising, investing in a single stock can be risky. On the other hand, the Trefis High Quality (HQ) Portfolio, with a collection of 30 stocks, has a track record of comfortably outperforming the S&P 500 over the last 4-year period. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller-coaster ride, as evident in HQ Portfolio performance metrics.
Bloomberg
14-05-2025
- Business
- Bloomberg
Sumitomo Mitsui Expects Record Profit in Face of Trade Tensions
By and Hideki Suzuki Save Sumitomo Mitsui Financial Group Inc. forecast another year of record profit, signaling the Japanese bank is confident it will withstand the fallout from Donald Trump's trade war. Japan's second-largest lender expects net income of ¥1.3 trillion ($8.8 billion) for the year started in April, up about 10% from last year's record ¥1.18 trillion, it said on Wednesday. The projection compares with the ¥1.37 trillion average of 13 analyst estimates compiled by Bloomberg.
