PM USA’s volume down
Philip Morris USA’s cigarette shipment volume during the three months to the end of June, at 30,569 million, was down by 2.9 percent on that of the three months to the end of June 2016, 31,470 million.
Marlboro shipments were down by 2.9 percent to 26,157 million; shipments of other premium brands fell by 6.6 percent to 1,550 million; while shipments of discount brands decreased by 0.5 percent to 2,862 million.
PM USA’s share of the retail cigarette market during the three months to the end of June, at 50.8 percent, was down by 0.4 of a percentage point from that of the three months to the end of June 2016. Marlboro’s share, at 43.5 percent, was down by 0.3 of a percentage point; the share of its other premium brands was down by 0.1 of a percentage point to 2.7 percent; while the share of the company’s discount brands was unchanged at 4.6 per cent.
The Altria Group yesterday published its second-quarter and first-half results for 2016.
Middleton’s cigar shipment volume during the three months to the end of June, at 406 million, was increased by 13.1 percent on that of the three months to the end of June 2016, 359 million. Black & Mild brand shipments were up by 13.6 percent to 402 million, while shipments of other brands fell by 20.0 percent from five million to four million.
USSTC’s smokeless-products shipment-volume during the three months to the end of June, at 221.0 million cans and packs, was up by 1.4 percent on that of the three months to the end of June 2016, 217.9 million.
Shipments of Copenhagen were up by 2.6 percent to 137.5 million; those of Skoal were down by 1.2 percent to 65.8 million; while those of other brands were increased by 2.3 percent to 17.7 million.
USSTC’s share of the US market for smokeless products during the three months to the end of June, at 54.1 percent, was down by 0.8 of a percentage point from that of the three months to the end of June 2016. Copenhagen’s share was up by 0.7 of a percentage point to 34.1 percent; Skoal’s share was down by 1.4 percentage points to 16.7 percent; while the share of other brands was down by 0.1 of a percentage point to 3.3 percent.
Meanwhile, PM USA’s cigarette shipment volume during the six months to the end of June, at 59,296 million, was down by 2.8 percent on that of the six months to the end of June 2016, 61,009 million.
Marlboro shipments fell by 2.8 percent to 50,852 million; shipments of other premium brands fell by 5.5 percent to 3,000 million; while shipments of discount brands were down by 1.8 percent to 5,444 million.
Middleton’s cigar shipment volume during the six months to the end of June, at 773 million, was increased by 12.7 percent on that of the six months to the end of June 2016, 686 million. Black & Mild brand shipments were up by 14.0 percent to 765 million; while shipments of other brands fell by 46.7 percent to eight million.
USSTC’s domestic, smokeless-products shipment-volume during the six months to the end of June, at 416.8 million, was down by 1.7 percent on that of the six months to the end of June 2016, 424.0 million. Copenhagen shipments were up by 1.2 percent to 262.0 million; Skoal shipments were down by 7.4 percent to 121.4 million; while shipments of other brands were down by 2.1 percent to 33.4 million.
Altria’s second-quarter reported diluted earnings per share (EPS) increased by 22.6 percent to $1.03, and its second-quarter adjusted diluted EPS, which excludes the impact of special items, increased by 4.9 percent to $0.85.
Altria’s first-half reported diluted EPS increased by 19.0 percent to $1.75, and its first-half adjusted diluted EPS increased by 3.3 percent to $1.58.
“Based on strong tobacco operating company performance, Altria delivered solid results in the second quarter and first half of 2017,” said Marty Barrington, Altria’s chairman, CEO and president.
“The smokeable products segment generated strong income growth despite a large cigarette excise tax increase in California, and the smokeless products segment has largely rebounded from its first-quarter voluntary product recall.
“We continued to focus on rewarding shareholders, paying out nearly $2.4 billion in dividends and repurchasing $1.6 billion in shares in the first half of 2017. Today we also are announcing a $1 billion expansion of that program.
“Our business fundamentals remain strong. We believe we are well-positioned for the second half of the year and continue to expect adjusted diluted EPS growth to be weighted to the second half. Thus, we are reaffirming our 2017 full-year adjusted diluted EPS growth guidance of 7.5 percent to 9.5 percent.”