Philip Morris Trims Annual Profit Forecast on Elevated Costs

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Philip Morris Trims Annual Profit Forecast on Elevated Costs

Reuters2023-04-20

April 20 (Reuters) - Marlboro maker Philip Morris International Inc cut its full-year profit forecast on Thursday hit by rising tobacco leaf prices, energy and labor costs, which have squeezed the company's profit margins.

The company sees adjusted full-year profit per share of $6.10 to $6.22, down from its previous forecast of $6.25 to $6.37.

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