Philip Morris (NYSE: PM) is scheduled to report its Q3 2023 results on Thursday, October 19. We expect PM stock to trade higher, with its revenue and earnings likely exceeding the street expectations. The company should continue to benefit from an uptick in heated tobacco units and better pricing. Our interactive dashboard analysis of Philip Morris Earnings Preview has additional details.
PM stock has witnessed gains of 10% from levels of $85 in early January 2021 to around $95 now, vs. an increase of about 15% for the S&P 500 over this roughly 3-year period. However, the increase in PM stock has been far from consistent. Returns for the stock were 15% in 2021, 7% in 2022, and -8% in 2023. In comparison, returns for the S&P 500 have been 27% in 2021, -19% in 2022, and 14% in 2023 – indicating that PM underperformed the S&P in 2021 and 2023.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.