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Philip Morris higher after confident outlook

  • Philip Morris (NYSE:PM) reports cigarette volume fell 1.4% to 219.8B units, led by a 3.5% drop in demand in Europe.
  • The company says it expects full-year EPS to be near the top end of its guidance for 9% to 11% growth off some momentum it sees for the cigarette business.
  • PM on capital allocation: "We are committed to returning around 100% of our free cash flow to shareholders."
  • Previously: Philip Morris beats by $0.08, beats on revenue
  • PM +2.32% premarket to $84.59.

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Philip Morris International Inc.