• June 15, 2024

Volume decimated

 Volume decimated

Philip Morris USA’s cigarette shipment volume during the three months to the end of June, at 27,266 million, was down by 10.8 percent on that of the three months to the end of June 2017, 30,569 million.
Marlboro shipments were down by 10.0 percent to 23,529 million; shipments of other premium brands fell by 9.4 percent to 1,404 million; while shipments of discount brands fell by 18.5 percent to 2,333 million.
PM USA’s share of the retail cigarette market during the three months to the end of June, at 50.2 percent, was down by 0.7 of a percentage point from that of the three months to the end of June 2017. Marlboro’s share, at 43.2 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 2.6 percent; while the share of the company’s discount brands was down by 0.3 of a percentage point to 4.4 percent.
The Altria Group yesterday published its second-quarter and first-half results for 2018.
Middleton’s cigar shipment volume during the three months to the end of June, at 417 million, was increased by 2.7 percent on that of the three months to the end of June 2017, 406 million.
Black & Mild brand shipments were up by 3.0 percent to 414 million, while shipments of other brands fell by 25.0 percent from four million to three million.
USSTC’s smokeless-products shipment-volume during the three months to the end of June, at 215.7 million cans and packs, was down by 2.4 percent on that of the three months to the end of June 2017, 221.0 million.
Shipments of Copenhagen were up by 0.4 percent to 138.1 million; those of Skoal were down by 9.1 percent to 59.8 million; while those of other brands were increased by 0.6 percent to 17.8 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 0.2 of a percentage point from that of the three months to the end of June 2017. Copenhagen’s share was unchanged at 34.3 percent; Skoal’s share was down by 0.4 of a percentage point to 16.4 percent; while the share of other brands was increased by 0.2 of a percentage point to 3.4 percent.
Altria’s net revenues during the second quarter, at $6,305 million were down by 5.4 percent on those of the second quarter of 2017, while revenues net of excise taxes were down by 3.7 percent to $4,879.
Altria’s second-quarter reported diluted earnings per share (EPS) were down by 3.9 percent to $0.99, while its second-quarter adjusted diluted EPS increased by 18.8 percent to $1.01.
“We continued our strong start to the year with adjusted diluted earnings per share growth of 18.8 percent in the second quarter,” said Howard Willard, Altria’s chairman and CEO.
“Our core tobacco businesses performed well as they continued to make strategic investments in support of their long-term objectives.
“Of course, our results benefited from a lower corporate tax rate.
“We continued to reward shareholders in the quarter by paying out over $1.3 billion in dividends and repurchasing approximately $437 million in shares.
“To reflect a strong first half and continued confidence in our core tobacco businesses, we are raising the lower-end of our guidance and now expect full-year adjusted diluted EPS growth of 16 percent to 19 percent.”