PM Q2 2017 Earnings Report — Philip Morris International Inc. Revenue & Financial Results | Market Cap Arena

Philip Morris International Inc.PM

Q2 2017 Earnings

Reported July 27, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2017	Q1 2017	Q2 2016	QoQ Change	YoY Change
Revenue	$6.9B	$6.1B	—	14.1%	—
Op. Income	$2.7B	$2.4B	—	13.3%	—
Gross Margin	63.6%	64.1%	—	-0.5pp	—
Net Margin	25.7%	26.2%	—	-0.5pp	—
EPS (Diluted)	$1.14	$1.02	—	11.8%	—
Free Cash Flow	$3.0B	$551M	—	437.2%	—

Revenue Flow

Item	Amount
REVENUE	$6.9B
Cost of Revenue	$2.5B
GROSS PROFIT	$4.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.7B
SG&A Expenses	$1.7B
Other Expenses	$8M
Operating Expenses	$1.7B
Cost & Expenses	$4.2B
OPERATING INCOME	$2.7B
Interest Income	$0
Interest Expense	$213M
Other Income/Expenses	-$206M
INCOME BEFORE TAX	$2.5B
Income Tax Expense	$689M
Net Income from Continuing Ops	$1.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.8B
D&A	$210M
EBIT	$2.7B
EBITDA	$2.9B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$6.9B
Cost of Revenue	$2.5B
GROSS PROFIT	$4.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.7B
SG&A Expenses	$1.7B
Other Expenses	$8M
Operating Expenses	$1.7B
Cost & Expenses	$4.2B
OPERATING INCOME	$2.7B
Interest Income	$0
Interest Expense	$213M
Other Income/Expenses	-$206M
INCOME BEFORE TAX	$2.5B
Income Tax Expense	$689M
Net Income from Continuing Ops	$1.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.8B
D&A	$210M
EBIT	$2.7B
EBITDA	$2.9B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.8B
Depreciation & Amortization	$210M
Stock-Based Compensation	$33M
Deferred Income Tax	$43M
Other Non-Cash Items	$30M
Change in Working Capital	$1.1B
OPERATING CASH FLOW	$3.2B
Capital Expenditure	-$268M
Acquisitions (Net)	-$14M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$378M
NET CASH FROM INVESTING	-$660M
Net Debt Issuance	-$109M
Common Stock Repurchased	$0
Common Dividends Paid	-$1.6B
Other Financing Activities	-$205M
NET CASH FROM FINANCING	-$1.9B
FREE CASH FLOW	$3.0B
Net Change in Cash	$1.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$6.2B
Short-Term Investments	$0
Net Receivables	$3.6B
Inventory	$7.7B
Other Current Assets	$857M
TOTAL CURRENT ASSETS	$18.4B
PP&E (Net)	$6.6B
Goodwill	$7.6B
Intangible Assets	$2.5B
Long-Term Investments	$1.1B
Tax Assets	$800M
Other Non-Current Assets	$1.6B
TOTAL NON-CURRENT ASSETS	$20.2B
TOTAL ASSETS	$38.7B
Account Payables	$1.9B
Short-Term Debt	$5.2B
Deferred Revenue	$0
Other Current Liabilities	$9.0B
TOTAL CURRENT LIABILITIES	$17.2B
Long-Term Debt	$26.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1.4B
Other Non-Current Liabilities	$3.7B
TOTAL NON-CURRENT LIABILITIES	$31.7B
TOTAL LIABILITIES	$48.9B
Common Stock	$0
Additional Paid-In Capital	$1.9B
Retained Earnings	$30.5B
Treasury Stock	-$35.4B
Accum. Other Comp. Income	-$9.1B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	-$12.0B
Minority Interest	$1.7B
TOTAL EQUITY	-$10.3B
TOTAL LIABILITIES & EQUITY	$38.7B
Total Debt	$31.7B
Net Debt	$25.6B