Stock Analysis on Net

Philip Morris International Inc. (NYSE:PM)

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Philip Morris International Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Net revenues 9,911 9,468 8,793 9,047 9,141 8,967 8,019 8,152 8,032 7,832 7,746 8,104 8,122 7,594 7,585 7,444 7,446 6,651 7,153 7,713 7,642 7,699 6,751
Cost of sales (3,366) (3,345) (3,195) (3,462) (3,165) (3,228) (3,038) (3,211) (2,935) (2,648) (2,608) (2,807) (2,596) (2,353) (2,274) (2,572) (2,416) (2,179) (2,402) (2,778) (2,605) (2,665) (2,465)
Gross profit 6,545 6,123 5,598 5,585 5,976 5,739 4,981 4,941 5,097 5,184 5,138 5,297 5,526 5,241 5,311 4,872 5,030 4,472 4,751 4,935 5,037 5,034 4,286
Marketing, administration and research costs (2,891) (2,679) (2,553) (2,696) (2,606) (2,508) (2,250) (2,017) (2,129) (2,128) (1,840) (2,350) (2,071) (2,112) (1,867) (1,967) (1,787) (1,741) (1,962) (2,429) (2,249) (1,847) (2,236)
Impairment of goodwill (665)
Operating income 3,654 3,444 3,045 2,889 3,370 2,566 2,731 2,924 2,968 3,056 3,298 2,947 3,455 3,129 3,444 2,905 3,243 2,731 2,789 2,506 2,788 3,187 2,050
Interest expense, net (189) (329) (299) (273) (261) (297) (230) (170) (138) (126) (154) (146) (154) (161) (167) (164) (163) (162) (129) (136) (132) (150) (152)
Pension and other employee benefit costs (15) (14) (15) (9) (8) (6) (22) (8) (7) (5) (4) (33) (27) (27) (28) (29) (23) (22) (23) (28) (20) (20) (21)
Earnings before income taxes 3,450 3,101 2,731 2,607 3,101 2,263 2,479 2,746 2,823 2,925 3,140 2,768 3,274 2,941 3,249 2,712 3,057 2,547 2,637 2,342 2,636 3,017 1,877
Provision for income taxes (735) (734) (676) (320) (1,031) (560) (428) (409) (622) (594) (619) (593) (735) (646) (697) (613) (640) (528) (596) (623) (635) (611) (424)
Equity investments and securities income (loss), net 500 161 191 26 101 (21) 51 157 21 15 (56) 54 49 3 43 20 20 30 (54) 63 45 30 11
Net earnings 3,215 2,528 2,246 2,313 2,171 1,682 2,102 2,494 2,222 2,346 2,465 2,229 2,588 2,298 2,595 2,119 2,437 2,049 1,987 1,782 2,046 2,436 1,464
Net earnings attributable to noncontrolling interests (133) (122) (98) (117) (117) (114) (107) (97) (135) (113) (134) (136) (162) (126) (177) (143) (130) (102) (161) (166) (150) (117) (110)
Net earnings attributable to PMI 3,082 2,406 2,148 2,196 2,054 1,568 1,995 2,397 2,087 2,233 2,331 2,093 2,426 2,172 2,418 1,976 2,307 1,947 1,826 1,616 1,896 2,319 1,354

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Income statement item Description The company
Net revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Philip Morris International Inc. net revenues increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Operating income The net result for the period of deducting operating expenses from operating revenues. Philip Morris International Inc. operating income increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Earnings before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Philip Morris International Inc. earnings before income taxes increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Net earnings attributable to PMI The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Philip Morris International Inc. net earnings attributable to PMI increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.