By Micah Maidenberg

Philip Morris International Inc. offered a financial forecast for the year, a move that comes after the tobacco company withdrew its earlier outlook due uncertainty tied to the Covid-19 pandemic.

The company Tuesday said it expects to earn a profit of $4.84 to $4.99 a share, down from its initial forecast of at least $5.50 a share in earnings.

After adjustments, including those related to currency fluctuations, Philip Morris sees $5.23 to $5.38 a share in profit, compared with $5.13 a share last year.

The new forecast assumes there won't be any further national lockdowns in the company's key international markets during the second half of the year.

Philip Morris warned that "uncertainty remains as to the risk and magnitude of Covid-19 resurgence, as well as the economic consequences of the pandemic." 



  Write to Micah Maidenberg at micah.maidenberg@wsj.com