How does PM's earnings trend compare to peers?

Philip Morris International's (PM) earnings trend shows a decline in net income and a significant increase in total revenue compared to peers, highlighting the transition to smoke-free products and the success of Zyn.

1. **Net Income Trend**:
- PM's net income was -$486 million in the most recent quarter (MRQ), which is negative and indicates a loss.
- In contrast, British American Tobacco (BTI) does not provide net income data for the same period.
- Reynolds American (RAI), another competitor, also does not report net income for MRQ.
- NJOY, a competitor focused on electronic cigarettes, reported a net income of $131.32 million, which is positive but significantly lower than PM's reported loss.
2. **Total Revenue Trend**:
- PM's total revenue for the MRQ was $9.71 billion.
- BTI does not report total revenue for the MRQ.
- RAI's total revenue for the MRQ is not available.
- NJOY's total revenue for the MRQ was $488.36 million.
3. **Diluted EPS Trend**:
- PM's diluted EPS for the MRQ is not available.
- BTI does not report diluted EPS for the MRQ.
- RAI's diluted EPS for the MRQ is not available.
- NJOY's diluted EPS for the MRQ was $1.31.
4. **Comparison and Insights**:
- PM's negative net income suggests significant challenges or strategic shifts, possibly due to the decline in traditional tobacco sales and increased investments in smoke-free products and marketing.
- The lack of net income data for BTI and RAI prevents a direct comparison of profitability, but it is clear that PM's performance in this metric is under pressure compared to NJOY, which shows a positive net income.
- PM's total revenue is substantially higher than NJOY's, indicating the scale of Philip Morris' operations, despite the negative net income. This could be a result of the company's diversified portfolio, including both traditional and smoke-free products.
- The absence of diluted EPS data for PM prevents a full comparison of earnings trend across all peers, but it is notable that PM's total revenue is much higher than NJOY's, which could be a sign of PM's larger market share and higher average revenue per unit sold.

In conclusion, PM's earnings trend, particularly in terms of net income, shows a challenging period for the company due to the transition away from traditional tobacco products. However, the company's substantial revenue and the success of its smoke-free product Zyn provide a positive outlook for future growth.