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Philip Morris International Inc. (PM) Q1 2023 Earnings Call Transcript

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Philip Morris International Inc. (NYSE:PM) Q1 2023 Earnings Conference Call April 20, 2023 9:00 AM ET

Company Participants

James Bushnell - Vice President of Investor Relations and Financial Communications

Emmanuel Babeau - Chief Financial Officer

Conference Call Participants

Bonnie Herzog - Goldman Sachs

Gaurav Jain - Barclays

Pamela Kaufman - Morgan Stanley

Vivien Azer - TD Cowen

Andrei Condrea - UBS

Matt Smith - Stifel

Jared Dinges - JPMorgan

Priya Ohri-Gupta - Barclays


Good day, and welcome to the Philip Morris International First Quarter 2023 Earnings Conference Call. Today's call is scheduled to last about one hour, including remarks by Philip Morris International management and the question-and-answer session. [Operator Instructions]

I will now turn the call over to Mr. James Bushnell, Vice President of Investor Relations and Financial Communications. Please go ahead, sir.

James Bushnell

Welcome. Thank you for joining us. Earlier today, we issued a press release containing detailed information on our 2023 first quarter results. You may access the release on pmi.com.

A glossary of terms including the definition for smoke-free products, as well as adjustments, other calculations and reconciliations to the most directly comparable U.S. GAAP measures for non-GAAP financial measures cited in this presentation and additional net revenue data are available in the exhibit to the Form 8-K published this morning and on our Investor Relations website.

Growth rates presented on an organic basis reflect currency neutral adjusted results excluding acquisitions and disposals. As such, figures and comparisons presented on an organic basis exclude Swedish Match up until November 11, 2023.

Today's remarks contain forward-looking statements and projections of future results. I direct your attention to the Forward-Looking and Cautionary Statements disclosure in today's presentation and press release for a review of the various factors that could cause actual results to differ materially from projections or

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