Philip Morris Cuts 2022 Guidance on Planned Russia Exit
Marlboro brand cigarettes
Photographer: Daniel Acker/Bloomberg
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Philip Morris International Inc. said full-year earnings will be lower, as the Marlboro maker plans to exit the Russian market in a move that may weigh on growth of its IQOS heated-tobacco system.
Adjusted earnings per share will range from $5.45 to $5.56 this year. That compares with its previous guidance for a range of $6.12 to $6.30.