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Category: Business & Finance

  • Modern Oral Spurs Turning Point’s 27% Rise in Q3

    Modern Oral Spurs Turning Point’s 27% Rise in Q3

    Turning Point Brands reported third-quarter 2026 net sales of $151.1 million, up 27% from a year earlier, driven by growth in its Stoker’s segment. Modern Oral gross sales increased 114.2% to $93.9 million, while net sales rose 102.9% to $74.4 million, accounting for 49.2% of total company net sales. Stoker’s segment net sales increased 52% to $113.8 million, while Zig-Zag sales declined 15.5% to $37.3 million. Gross profit increased 20.9% to $85.2 million, but net income fell 81.4% to $3.9 million, and adjusted EBITDA declined 41.3% to $18.4 million. Selling, general, and administrative expenses rose 69.1% to $75.3 million, reflecting higher Modern Oral sales, increased marketing investment, and higher outbound freight costs.

    The company reaffirmed its 2026 guidance of $330 million to $350 million in Modern Oral gross sales, $260 million to $270 million in Modern Oral net sales, and adjusted EBITDA of $70 million to $80 million. CEO David Glazek said investments in FRE and ALP are expanding distribution and consumer engagement as the company seeks to increase its presence in the nicotine pouch category. TPB ended the quarter with $251.3 million in cash and $48.7 million in net debt. It repurchased 167,161 shares during the quarter for $10 million, at an average price of $59.82 per share.

  • Arcus Launches Regulatory Monitoring Tool for Nicotine Sector

    Arcus Launches Regulatory Monitoring Tool for Nicotine Sector

    Regulatory compliance consultancy Arcus Compliance launched MAVRYX Assistant, a subscription-based software tool designed to help small businesses monitor regulatory requirements in the UK and Europe. The platform targets founders, start-ups, and brands in the nicotine and beauty industries, offering regulatory news summaries, regulatory horizon monitoring, an ingredients checker, product portfolio monitoring, and an AI-powered chat assistant. The ingredients checker identifies upcoming ingredient restrictions and provides countdowns to implementation deadlines to help businesses assess reformulation requirements.

    Developed over six years, the platform draws on Arcus Compliance’s regulatory expertise working with brands in more than 50 countries. Founder Lee Bryan said the tool is intended to give smaller businesses access to regulatory information traditionally available to larger companies with in-house compliance teams. MAVRYX Assistant is available in English, Korean, Spanish, and Chinese through 12-month subscriptions covering one, three, or five users. The company plans to expand into the U.S. and Asia in the first quarter of 2027, followed by a global rollout later in the year.

  • KT&G Launches HTPs in Kazakhstan

    KT&G Launches HTPs in Kazakhstan

    KT&G launched its FLEX heated tobacco device and FAIIM tobacco sticks in Kazakhstan recently, marking its entry into the country’s heated tobacco market. The products are locally branded versions of the company’s lil AIBLE device and AIIM sticks sold in South Korea. Initial distribution is limited to Almaty, with plans to gradually expand sales channels. KT&G has also opened a FLEX flagship store at Forum Mall in Almaty, offering product information, customer consultations, and other services.

    The launch is part of KT&G’s strategy to expand its next-generation products business internationally. The company said it is also working to establish local manufacturing facilities and expand distribution networks through its Kazakhstan subsidiary. KT&G said it plans to build on its existing conventional cigarette business while developing its heated tobacco presence in the market.

  • ALP Opens Pouch Pop-Up in NYC

    ALP Opens Pouch Pop-Up in NYC

    ALP is launching an advertising and retail campaign in New York City, including what the company describes as the first branded nicotine pouch flagship store in the United States. The ALP Saloon Pop-Up, located at 433 Broadway in Manhattan’s SoHo neighborhood, features an Old West-themed retail environment. The campaign also includes out-of-home and guerrilla marketing, with a strong presence in the Times Square area, running from mid-November 2026 through January 2027.

    ALP CEO and co-founder Lorenzo De Plano said the initiative marks the company’s first effort to enter the New York City market, which it had previously avoided while focusing on rural areas. De Plano said the pop-up will introduce consumers to the brand and its products. The company said the campaign will include an event for media and selected creators.

  • Pyxus Announces Transaction Support Agreement

    Pyxus Announces Transaction Support Agreement

    Pyxus International announced that it has reached a transaction support agreement with creditors holding a majority of its outstanding secured debt to restructure its capital structure through debt exchanges and an equity offering. The proposed transactions would convert approximately $92 million of debt into equity, repay $65 million of debt using equity offering proceeds, and extend maturities on approximately $300 million of remaining debt. The company plans to offer up to $85 million in common stock at $2.50 per share, with certain creditors committing to backstop $80 million of the offering.

    Creditors supporting the agreement hold 67.9% of Pyxus Holdings’ Intabex term loans, 74.9% of its Pyxus term loans, and 56% of its senior secured notes. Pyxus expects to launch the note exchange offer within 10 days of the agreement’s effective date, with the remaining transactions to follow. The company expects to complete the restructuring by Dec. 15, subject to required approvals and participation thresholds.

  • Pyxus Returns to Quarterly Profitability, EBITDA Reaches $43M

    Pyxus Returns to Quarterly Profitability, EBITDA Reaches $43M

    Pyxus International reported second-quarter fiscal 2027 net income attributable to the company of $4.1 million for the quarter ended Sept. 30, compared with a net loss of $879,000 a year earlier. Sales and other operating revenues declined 6.3% to $534.4 million from $570.2 million, as leaf tobacco volumes sold fell 15.8% to 77 million kilos amid shipment delays in Asia, Africa, and South America. Operating income decreased to $40 million from $46.7 million, while adjusted EBITDA fell to $43 million from $54.8 million. Net income included a $9.1 million gain from the sale of the company’s tobacco processing facility in Araranguá, Brazil.

    For the first half of fiscal 2027, revenue declined 9.9% to $972.2 million, while the net loss attributable to Pyxus narrowed to $3.1 million from $16.7 million. The company reported net debt of $1.25 billion at Sept. 30, down $13.6 million year over year, and net leverage of 5.86 times, compared with 6.54 times a year earlier. Pyxus maintained its full-year revenue outlook of $2.3 billion to $2.5 billion and narrowed its adjusted EBITDA guidance to $215 million to $235 million, from a previous range of $210 million to $240 million.

  • Universal Reports Lower First-Half Fiscal 2027 Earnings

    Universal Reports Lower First-Half Fiscal 2027 Earnings

    Universal Corp. reported second-quarter fiscal 2027 net income attributable to the company of $12.6 million, down 63% from $34.2 million a year earlier, as revenue fell 18% to $621.8 million. For the six months ended Sept. 30, revenue declined 15% to $1.15 billion, while net income fell 82% to $7.6 million. Tobacco Operations revenue decreased 19% in the quarter to $534.3 million, while operating income fell 33% to $43.9 million. For the first half, tobacco revenue declined 17% to $971.5 million, and operating income dropped 53% to $47.4 million.

    Universal attributed lower tobacco sales volumes to a delayed market cycle and oversupply conditions, particularly for flue-cured and burley tobacco, as well as later customer commitments and shipping instructions in Africa and Brazil. Tobacco sales volumes fell 18% in the first half, while uncommitted inventories stood at 19% at Sept. 30, within the company’s target range. Universal expects shipments to be heavily weighted toward the second half of fiscal 2027, with CEO Preston Wigner saying customer commitments remain in line with full-year sales plans.

  • KT&G Reports Record Revenue, Forecasts $5.2B in Annual Sales

    KT&G Reports Record Revenue, Forecasts $5.2B in Annual Sales

    KT&G reported record quarterly revenue of 1.91 trillion won ($1.4 billion) for the three months ended Sept. 30, up 4.3% year over year, while operating profit increased 13.9% to 530.1 billion won ($392.3 million). The South Korean tobacco company expects full-year revenue of 7 trillion won ($5.2 billion) and operating profit of 1.5 trillion won ($1.1 billion), compared with 6.58 trillion won ($4.9 billion) and 1.35 trillion won ($999 million), respectively, in 2025. Its tobacco business generated revenue of 1.31 trillion won ($969 million), up 6%, and operating profit of 425.5 billion won ($314.9 million), up 14.4%. Overseas cigarette sales recorded a 10th consecutive quarter of growth, with quarterly records for volume and revenue, while KT&G maintained its leading position in South Korea’s heated tobacco market.

    KT&G plans to expand cigarette sales into about 30 additional countries, increase premium sales of brands such as ESSE, and expand its direct overseas heated tobacco operations. Its LOOP nicotine pouch brand aims to reach about 70 countries by 2030. The company also expects to save more than 550 billion won ($407 million) over four years through global production optimization, including a new Indonesian plant. KT&G will increase its annual dividend by 33.3% to 8,000 won ($5.92) per share and raise its payout ratio to at least 75% by 2030. Beginning next year, it plans to buy back and cancel 1.2 trillion won ($888 million)  in shares over four years. Including dividends, total shareholder returns are expected to exceed 5 trillion won ($3.7 billion) during that period.

  • AIR Submits PMTA for Rechargeable Vape Platform

    AIR Submits PMTA for Rechargeable Vape Platform

    AIR Global PLC announced it has submitted a Premarket Tobacco Product Application (PMTA) to the U.S. Food and Drug Administration for Crown Switch, a rechargeable pod-based vaping platform. The application includes toxicology and aerosol chemistry assessments, clinical and nonclinical studies, consumer research, manufacturing and quality-control data, and evaluations of individual- and population-level health impacts. AIR said consumer research found strong interest among adult smokers, including stated intentions to use the product.

    Crown Switch uses Greentank’s Quantum Vape chip-based aerosolization technology. AIR invested $20 million in Greentank in July and received a warrant allowing it to increase its ownership stake by an additional 20% over 24 months. The company said the product features a pod closure designed to reduce leakage and prevent refilling, child-resistant packaging, and a battery tested against recognized safety standards.

  • Godfrey Phillips India Profit Falls 37.7%

    Godfrey Phillips India Profit Falls 37.7%

    Godfrey Phillips India reported a 37.7% decline in net profit for the July-September quarter, falling to ₹1.9 billion ($20.1 million) from ₹3.05 billion ($32.3 million) a year earlier, as higher cigarette taxes continued to pressure profitability. Quarterly expenses nearly tripled to ₹40.3 billion ($426.4 million), driven by increased excise duties and higher raw material costs. Revenue from operations rose to ₹42 billion ($444.4 million) from ₹16.23 billion ($171.7 million), reflecting price increases implemented following the tax hikes announced in January. The company, which manufactures and markets Marlboro cigarettes in India under license from Philip Morris International, said higher taxes have also contributed to illicit cigarette trade.