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Category: Business & Finance

  • BAT Reports H1 Growth, Raises Confidence in 2026 Outlook

    BAT Reports H1 Growth, Raises Confidence in 2026 Outlook

    British American Tobacco reported H1 2026 revenue of £12.24 billion, up 1.4% on a reported basis and 2.9% at constant currency, with growth led by the U.S. and AME (Americas, Middle East, and Africa). New Categories revenue increased 18% at constant currency to £1.93 billion, driven by Modern Oral and a return to double-digit growth in U.S. Vapor. Smokeless products reached 35 million consumers and accounted for 19.8% of group revenue, while New Category contribution rose 54.7% to £257 million.

    U.S. revenue increased 8.5%, including 58.1% growth in New Categories, while AME revenue rose 0.9% and APMEA declined 6.3%. Modern Oral revenue grew 65.9%, extending BAT’s leadership with a 39.2% volume share in its top markets. Combustibles revenue increased 2.1%, helping fund the company’s transformation. Adjusted diluted EPS rose 7.9% on a Canada-adjusted constant-currency basis, while adjusted operating profit increased 3.5%.

    BAT expects full-year adjusted diluted EPS growth toward the middle of its 5%-8% guidance range and plans to roll out Velo Max nationally and selected adult-focused Vuse flavors in the U.S. during H2.

  • JT Group Reports Strong H1 Performance

    JT Group Reports Strong H1 Performance

    Japan Tobacco Group reported strong first-half 2026 results, driven by pricing, positive volume, and market-share gains in both combustibles and reduced-risk products. Core revenue rose 10.6% at constant currency, supported by a JPY157 billion ($973 million) price/mix contribution and a JPY5.1 billion ($31.6 million) favorable volume variance in Asia and EMA. RRP-related revenue increased 40.7%, while adjusted operating profit grew 18.8% at constant currency.

    Total tobacco volume increased 1%, or 0.4% excluding inventory adjustments. Combustibles volume rose 0.2%, with Winston and Camel volumes increasing 1.7% and 2.8%, respectively, while RRP volume jumped 33.8%, led by a 43.5% increase for Ploom. JT said tobacco market share increased in more than 30 markets, including Japan, the Philippines, Türkiye, and the U.S., prompting an upward revision to its full-year tobacco business forecast.

  • Universal to Report Fiscal Q1 Results Aug. 6

    Universal to Report Fiscal Q1 Results Aug. 6

    Universal Corporation announced it will release its fiscal 2027 first-quarter results after market close on Aug. 5, followed by a conference call at 10 a.m. ET on Aug. 6. The call will be webcast on the company’s website and will be available for replay through Nov. 6.

  • Altria Reports Modest Q2 Growth, Raises Low End of EPS

    Altria Reports Modest Q2 Growth, Raises Low End of EPS

    Altria Group reported mostly flat second-quarter net revenue of $6.1 billion, while adjusted diluted EPS rose 2.8% to $1.48. For the first half, revenue increased 1.6% to $11.5 billion and adjusted diluted EPS rose 4.9% to $2.80. Reported Q2 diluted EPS fell 2.8% to $1.37, reflecting litigation costs, USSTC facility-consolidation expenses, and ABI-related items.

    The smokeable business remained the main revenue driver, with Q2 net revenue up 0.7% to $5.39 billion and adjusted operating company income up 2.4%. However, domestic cigarette shipments fell 3.2%, with Marlboro shipments down 7.4%, while discount cigarette shipments jumped 67.3% as consumers faced continued discretionary-income pressures. Marlboro’s total cigarette-category retail share fell 1.5% points to 39.5%.

    Oral tobacco Q2 revenue was down 5.3% to $713 million and adjusted operating companies income down 8%. Segment shipments declined 8.5%, although the broader U.S. oral category grew an estimated 6% in the first half, driven primarily by nicotine pouches. Altria’s on! shipments increased 5.1% in the first half, and its Q2 retail share rose to 8.6%; the nicotine pouch category itself reached 59.9% of the oral tobacco category.

    Altria said Helix expanded on! PLUS to 120,000 stores nationwide, with additional flavors and nicotine strengths planned for the fourth quarter. The company also returned nearly $3.9 billion to shareholders in the first half through dividends and share repurchases. It raised the lower end of its 2026 adjusted EPS guidance, now expecting $5.61-$5.72, representing growth of 3.5%-5.5%, while increasing expected 2026 capital expenditures to $375 million-$450 million, primarily to support USSTC manufacturing consolidation.

  • Philip Morris Italia Launches €1 Million Academy for Tobacconists

    Philip Morris Italia Launches €1 Million Academy for Tobacconists

    Philip Morris Italia announced the launch of the Trade Academy, a €1 million training initiative developed with the Italian Tobacconists Federation (FIT) to support the professional development of approximately 45,000 tobacconists across Italy. The program offers digital and in-person training in areas such as leadership, business management, and public speaking, as well as university scholarships and professional development opportunities for retailers and their families.

    The Trade Academy will run through the end of 2026 and is part of Philip Morris International’s broader investment in its Italian supply chain. The company said the initiative is designed to strengthen retailer competitiveness, improve customer engagement and build skills across its commercial network as part of its long-term investment in human capital.

  • Pilot Study Promising as AIR Invests $20M in Greentank

    Pilot Study Promising as AIR Invests $20M in Greentank

    AIR Global announced a $20 million investment in vaporization technology company Greentank Innovations, deepening a strategic partnership established in 2023. The investment gives AIR preferred shares based on a $170 million pre-money valuation, a warrant to increase its stake by an additional 20% over the next two years, a board nomination right, and enhanced commercial and technology access. AIR said the investment supports its growth strategy in reduced-risk nicotine products and its planned U.S. premarket tobacco product application for its Crown Switch vape.

    AIR also released results from an independent pilot study of its Greentank-powered Crown Switch device, reporting low or non-detectable levels of several harmful or potentially harmful constituents in the aerosol. According to the company, carbon monoxide, benzene, and 1,3-butadiene were not detected, while formaldehyde, nickel, and other constituents were reported at lower levels than published data for certain FDA-authorized e-cigarettes. AIR said the preliminary findings will be presented at the 2026 Tobacco Science Research Conference and will form part of its PMTA submission, noting that additional testing is underway and future results may differ.

  • ELFBAR Reports Low Harmful Constituents in its ELFA

    ELFBAR Reports Low Harmful Constituents in its ELFA

    ELFBAR is highlighting a new peer-reviewed study published in iScience reporting that aerosols from its ELFA pod system contained undetectable or substantially lower levels of harmful constituents compared with cigarette smoke under standardized laboratory testing. According to the company, 10 of 17 cigarette smoke-related analytes — including carbon monoxide, tobacco-specific nitrosamines, benzene, and 1,3-butadiene — were undetectable or below quantifiable levels, while formaldehyde and acetaldehyde were up to 99.9% lower than in cigarette smoke.

    The company also said detectable metal emissions, including lead, chromium and nickel, were well below established safety thresholds, with cadmium and arsenic not detected. ELFBAR said the findings support evidence that adult smokers who completely switch to its ELFA pod system could significantly reduce or eliminate exposure to many harmful constituents associated with combustible cigarettes.

  • Turning Point Brands Announces Dividend

    Turning Point Brands Announces Dividend

    The board of directors of Turning Point Brands, Inc. announced a regular quarterly dividend of $0.08 per common share. The dividend is payable on October 9 to shareholders of record on the close of business on September 18.

  • PMI U.S. Opens $1.2 Billion Colorado Manufacturing Campus

    PMI U.S. Opens $1.2 Billion Colorado Manufacturing Campus

    Philip Morris International’s U.S. businesses announced the official opening of its $1.2 billion manufacturing campus in Aurora, Colorado, expanding domestic production capacity for Zyn nicotine pouches and strengthening the company’s U.S. supply chain and export capabilities. The 780,000-square-foot facility, located on a 148-acre site, began full commercial production in July 2026 and represents PMI U.S.’s first greenfield manufacturing complex in the United States. The campus integrates production, packaging, warehousing, distribution, and operations, and will support markets across Asia, Latin America, and the Caribbean.

    The investment, originally announced as a $600 million project in 2024, doubled in planned capital expenditures through 2028, including manufacturing equipment, infrastructure, facility development, and future production expansion. “Aurora represents an important milestone for PMI U.S. and our continued investment in our business here,” said Stacey Kennedy, CEO of PMI U.S. “This facility expands our production capacity, strengthens our supply chain, and enhances our ability to serve growing demand in the United States and around the world.”

    The facility is expected to directly employ approximately 500 people and contribute to broader economic activity in Colorado, with PMI estimating the site will support around 1,000 indirect jobs.

  • Godfrey Phillips India Profit Falls 44% After Tax Hike

    Godfrey Phillips India Profit Falls 44% After Tax Hike

    Godfrey Phillips India reported a 44% decline in first-quarter profit as higher excise duties introduced in January pressured margins. Consolidated net profit fell to 1.98 billion rupees ($19.8 million) from 3.56 billion rupees ($35.6 million) a year earlier.

    The company, which manufactures and sells Marlboro cigarettes in India under license from Philip Morris International, said cigarette, tobacco and related product revenue more than doubled to 37.8 billion rupees ($378 million). However, excise duty expenses surged nearly eightfold to 26 billion rupees ($2.6 billion) after India introduced higher cigarette taxes ranging from 2,050 to 8,500 rupees ($205 to $850) per 1,000 cigarettes in February.