- PMI’s cigarette shipment volume in Latin America & Canada decreased by 1.6%, mainly due to a lower total market in Argentina, Colombia and Mexico and lower share in Canada.
- Reported net revenues increased by 0.7% to $3.3 billion, including unfavorable currency of $196 million.
- Excluding the impact of currency, net revenues increased by 6.6%, reflecting favorable pricing of $267 million, partially offset by unfavorable volume/mix of $49 million.
- Reported OCI increased by 5.6% to $1.0 billion, despite unfavorable currency of $63 million.
- Excluding the impact of currency, OCI increased by 11.9%, primarily reflecting favorable pricing, partially offset by unfavorable volume/mix of $71 million and higher costs, mainly related to the restructuring of manufacturing facilities and distribution infrastructure.
- Excluding the impact of currency, adjusted OCI margin increased by 1.7 percentage points to 32.4%.
