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Article: Philip Morris Companies Inc. Revises Earnings Guidance.
- Article from:
- Business Wire
- Article date:
- September 26, 2002
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Business Editors
NEW YORK--(BUSINESS WIRE)--Sept. 26, 2002
Projects Full-Year 2002 Underlying Diluted EPS Growth of 3% to 5%;
Expects Third-Quarter 2002 Underlying Diluted EPS Up 8.6% to $1.26;
Targets Full-Year 2003 Underlying Diluted EPS Growth of 8% to 10%
Philip Morris Companies Inc. (NYSE:MO) today lowered its full-year 2002 earnings guidance to a range of 3% to 5% growth in underlying diluted earnings per share, due to lower than anticipated volume and additional promotional spending at Philip Morris U.S.A., its domestic tobacco operating subsidiary.
For the third-quarter 2002, the company said that underlying ...