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⚠️ BAT CEO: NOT EXPECTING ANY MAJOR CHANGE IN U.S. CIGARETTE INDUSTRY DECLINES IN THE SECOND HALF
Philip Morris $PM raises 2024 EPS outlook ahead of DB conference due to FX Now expects FY EPS of $6.26-6.38 (was $6.19-6.31) Implies $ growth of 4.2-6.2% (was 3.0-5.0%) Implies ex-FX growth of 9-11% (unchanged) cc: $BATS $BTI $MO $IMB https://t.co/XC94p1YCor
British American Tobacco 24H1 pre-close update H1 revenue & Adj. EBIT down LSD organic Macro pressures esp. in US "Continued lack of effective enforcement" on vapes Still expects FY revenue & Adj. EBIT to grow LSD organic (FX headwind ~4% for Adj. EBIT in £) $BATS $BTI https://t.co/4wB2WP9q8d
British American Tobacco ($BAT) reports a decline in H1 revenue and Adj. EBIT due to macro pressures, especially in the US. The company expects FY revenue and Adj. EBIT to grow slightly despite FX headwinds. Philip Morris ($PM) raises its 2024 EPS outlook ahead of a conference, now expecting FY EPS of $6.26-6.38, implying growth of 4.2-6.2%.