![Philip Morris International Inc. [PM] reports annual net loss of $8.3 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FPM.png&w=1200&q=75)
Philip Morris International Inc. [PM] has reported a net loss of $8.3 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $35.2 billion
Based in STAMFORD, Connecticut, Philip Morris International Inc. operates in the MANUFACTURING sector.
Consolidated Statements of Earnings - USD ($) $ in Millions 12 Months Ended
Dec. 31, 2023 Dec. 31, 2022 Dec. 31, 2021
Income Statement [Abstract]
Net revenues:
- 2023: $35,174 million
- 2022: $31,762 million
- 2021: $31,405 million
Cost of sales:
- 2023: $12,893 million
- 2022: $11,402 million
- 2021: $10,030 million
Gross profit:
- 2023: $22,281 million
- 2022: $20,360 million
- 2021: $21,375 million
Operating income:
- 2023: $11,556 million
- 2022: $12,246 million
- 2021: $12,975 million
Net earnings:
- 2023: $8,268 million
- 2022: $9,527 million
- 2021: $9,710 million
Basic earnings per share:
- 2023: $5.02 per share
- 2022: $5.82 per share
- 2021: $5.83 per share
Diluted earnings per share:
- 2023: $5.02 per share
- 2022: $5.81 per share
- 2021: $5.83 per share
In the current reporting period of 2023, the company reported an increase in net revenues compared to the previous year, reaching $35,174 million. Costs of sales also increased to $12,893 million, leading to a gross profit of $22,281 million. However, the operating income decreased to $11,556 million, resulting in a net earnings decrease to $8,268 million in 2023.
Earnings per share also saw a decrease in 2023 with basic earnings per share at $5.02 and diluted earnings per share at $5.02, down from $5.82 and $5.81 respectively in the previous year.
Overall, the company experienced fluctuations in financial performance in the current reporting period compared to the same period in the previous year.
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