Stock Analysis on Net

Philip Morris International Inc. (NYSE:PM)

This company has been moved to the archive! The financial data has not been updated since July 27, 2023.

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Philip Morris International Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Revenues including excise taxes 21,716 19,318 20,031 20,888 20,409 19,341 20,830 21,617 20,421 19,355 19,531 20,444 17,819 18,253 19,849 20,380 19,987 17,705 19,858 20,439 21,100 18,426
Excise taxes on products (12,749) (11,299) (11,879) (12,856) (12,577) (11,595) (12,726) (13,495) (12,827) (11,770) (12,087) (12,998) (11,168) (11,100) (12,136) (12,738) (12,288) (10,954) (12,359) (12,935) (13,374) (11,530)
Net revenues 8,967 8,019 8,152 8,032 7,832 7,746 8,104 8,122 7,594 7,585 7,444 7,446 6,651 7,153 7,713 7,642 7,699 6,751 7,499 7,504 7,726 6,896
Cost of sales (3,228) (3,038) (3,211) (2,935) (2,648) (2,608) (2,807) (2,596) (2,353) (2,274) (2,572) (2,416) (2,179) (2,402) (2,778) (2,605) (2,665) (2,465) (2,781) (2,618) (2,744) (2,615)
Gross profit 5,739 4,981 4,941 5,097 5,184 5,138 5,297 5,526 5,241 5,311 4,872 5,030 4,472 4,751 4,935 5,037 5,034 4,286 4,718 4,886 4,982 4,281
Marketing, administration and research costs (3,173) (2,250) (2,017) (2,129) (2,128) (1,840) (2,350) (2,071) (2,112) (1,867) (1,967) (1,787) (1,741) (1,962) (2,429) (2,249) (1,847) (2,236) (2,016) (1,730) (1,889) (1,855)
Operating income 2,566 2,731 2,924 2,968 3,056 3,298 2,947 3,455 3,129 3,444 2,905 3,243 2,731 2,789 2,506 2,788 3,187 2,050 2,702 3,156 3,093 2,426
Interest expense, net (297) (230) (170) (138) (126) (154) (146) (154) (161) (167) (164) (163) (162) (129) (136) (132) (150) (152) (125) (145) (168) (227)
Pension and other employee benefit costs (6) (22) (8) (7) (5) (4) (33) (27) (27) (28) (29) (23) (22) (23) (28) (20) (20) (21) (22) (7) (6) (6)
Earnings before income taxes 2,263 2,479 2,746 2,823 2,925 3,140 2,768 3,274 2,941 3,249 2,712 3,057 2,547 2,637 2,342 2,636 3,017 1,877 2,555 3,004 2,919 2,193
Provision for income taxes (560) (428) (409) (622) (594) (619) (593) (735) (646) (697) (613) (640) (528) (596) (623) (635) (611) (424) (551) (691) (644) (559)
Equity investments and securities income (loss), net (21) 51 157 21 15 (56) 54 49 3 43 20 20 30 (54) 63 45 30 11 (1) 28 20 13
Net earnings 1,682 2,102 2,494 2,222 2,346 2,465 2,229 2,588 2,298 2,595 2,119 2,437 2,049 1,987 1,782 2,046 2,436 1,464 2,003 2,341 2,295 1,647
Net earnings attributable to noncontrolling interests (114) (107) (97) (135) (113) (134) (136) (162) (126) (177) (143) (130) (102) (161) (166) (150) (117) (110) (93) (94) (97) (91)
Net earnings attributable to PMI 1,568 1,995 2,397 2,087 2,233 2,331 2,093 2,426 2,172 2,418 1,976 2,307 1,947 1,826 1,616 1,896 2,319 1,354 1,910 2,247 2,198 1,556

Based on: 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

Income statement item Description The company
Revenues including excise taxes Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Philip Morris International Inc. revenues including excise taxes decreased from Q4 2022 to Q1 2023 but then increased from Q1 2023 to Q2 2023 exceeding Q4 2022 level.
Operating income The net result for the period of deducting operating expenses from operating revenues. Philip Morris International Inc. operating income decreased from Q4 2022 to Q1 2023 and from Q1 2023 to Q2 2023.
Earnings before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Philip Morris International Inc. earnings before income taxes decreased from Q4 2022 to Q1 2023 and from Q1 2023 to Q2 2023.
Net earnings attributable to PMI The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Philip Morris International Inc. net earnings attributable to PMI decreased from Q4 2022 to Q1 2023 and from Q1 2023 to Q2 2023.