PMI reports results

Philip Morris International (PMI) reported net revenues of $7.7 billion in the second quarter of 2019, down 0.3 percent from those in the comparable 2018 period. Its operating income was $3.19 billion, up 3 percent from $3.09 billion in the second quarter of 2018. Adjusted operating income increased 9.1 percent to $3.21 billion.

PMI shipped 183.8 billion cigarettes in the second quarter of 2019, 3.6 percent less than in the comparable 2018 period. Sales of heated-tobacco units, by contrast, increased 37 percent to 15.06 billion units. Total shipment volume decreased by 1.4 percent.

“Building on our encouraging start to the year, we delivered another strong quarter that continues to demonstrate the soundness of our strategies and the quality of execution,” said Andre Calantzopoulos, chief executive officer of PMI.