DJ Philip Morris Bumps Up Lower End of Profit Forecast
By Micah Maidenberg
Philip Morris International Inc. Thursday lifted the bottom end of its 2020 profit forecast by 8 cents.
The cigarette company said it now believes it will generate at least $4.92 a share in earnings for the year, up from a July forecast that anticipated at least $4.84.
The top end of the earnings guidance remains $4.99 a share.
The new outlook "primarily reflects the expectation of a stronger-than-anticipated performance in the third quarter," the company said.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
September 10, 2020 09:16 ET (13:16 GMT)
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