Reports Q1 revenue $8.10B, consensus $8.11B. "Our business performed strongly in the first quarter, with adjusted diluted EPS of $1.38 exceeding our expectations," said Jacek Olczak, CEO. "Net revenues increased by 3.5% on a reported basis and by 3.2% organically, reflecting accelerated combustible tobacco pricing and robust underlying heated tobacco unit shipment volume growth before the impact of inventory movements. We continue to successfully integrate Swedish Match, which delivered impressive — and accretive — results, accelerating our transition to a majority smoke-free company. The outstanding performance of ZYN in the U.S. complemented the positive momentum of IQOS, including the excellent traction of ILUMA across launch markets, and reinforces our position as a truly global smoke-free champion. With our encouraging start to the year, we are reaffirming our full-year 2023 forecast for organic net revenue growth of 7% to 8.5% and currency-neutral adjusted diluted EPS growth of 7% to 9%."
Published first on TheFly
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