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Philip Morris Bumps Up Lower End of Profit Forecast

Dow Jones Newswires ·  Sep 10, 2020 21:16

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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