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Category: Business & Finance

  • Altria Moving Forward with Smoke-Free Products

    Altria Moving Forward with Smoke-Free Products

    Altria Group, Inc. reaffirmed its 2026 full-year guidance at the Consumer Analyst Group of New York Conference on February 18, projecting adjusted diluted EPS of $5.56 to $5.72, representing growth of 2.5% to 5.5% from a 2025 base of $5.42. CEO Billy Gifford and CFO Sal Mancuso told investors earnings growth is expected to be weighted toward the second half of the year, driven by a progressive increase in cigarette import and export activity, continued pricing power in the combustibles segment, and capital allocation including share repurchases. The company also emphasized its strategic pivot toward smoke-free products, including its on! nicotine pouch portfolio, positioning reduced-risk categories as a key long-term growth driver as cigarette volumes continue to decline.

    “Long term, it’s important to compete in e-vapor with flavored products that meet evolving consumer preferences,” Gifford said. “We are working on a pipeline of products to drive to that future. The proliferation of illicit disposable products, slow pace of FDA authorizations, and the intellectual property landscape remain significant headwinds. We intend to maintain a measured approach to our investments in e-vapor, until the regulatory framework is functioning as intended and enforcement actions meaningfully address the illicit market.”

  • BAT Reaffirms FY26 Guidance at Low End of Target

    BAT Reaffirms FY26 Guidance at Low End of Target

    British American Tobacco reaffirmed its full-year 2026 guidance with its presentation at the Consumer Analyst Group of New York Conference today (Feb. 18), signaling results will land at the lower end of its previously issued targets. BAT CEO Tadeu Marroco and Reynolds American President David Waterfieldhe said the group expects constant-currency revenue growth of 3–5%, adjusted profit from operations growth of 4–6% (adjusted for Canada and weighted toward the second half) and adjusted diluted EPS growth of 5–8%. BAT said its smokeless portfolio — including Vuse, glo and Velo — reached more than 31 million adult consumers globally by the end of 2025, contributing 18.2% of its £25.6 billion annual revenue. The company is targeting 50 million smokeless consumers by 2030 and aims for these products to generate half of group revenue by 2035, as it continues its transition toward reduced-risk categories.

    “We are committed to actively encouraging adult smokers, who would otherwise choose to continue to smoke, to make a full switch to smokeless alternatives,” Marroco said. “Regulation is not homogeneous globally. This affects not only which products are legally available for consumers, but also communication freedoms and excise levels.

    “BAT has taken a consumer-led, multi-category approach from the outset.  While initially more complex and costly to execute, it has proven to be the right strategy. Together with leveraging our brand building expertise, and global distribution reach, this enables us to maximize our opportunity – to switch smokers who would otherwise choose to continue to smoke, drive harm reduction, and create value.”

  • PMI Talks Smoke-Free Progress at CAGNY

    PMI Talks Smoke-Free Progress at CAGNY

    Today (Feb. 18), Philip Morris International outlined its long-term strategy at the Consumer Analyst Group of New York Conference, emphasizing its accelerated shift toward smoke-free products. CEO Jacek Olczak and CFO Emmanuel Babeau said more than 40% of current net revenues now come from smoke-free alternatives and reiterated its goal of reaching two-thirds of total revenue from these products by 2030. For 2026–2028, PMI projects 6%–8% organic revenue growth, 8%–10% operating income growth and 9%–11% adjusted EPS growth, driven by high single-digit to low-teen smoke-free volume increases, strong pricing power and margin expansion. Smoke-free products generated $17 billion in revenue and 180 billion units in volume, delivering more than double the revenue and gross profit per unit compared with combustibles, while operating cash flow is expected to reach about $45 billion over the period.

    “Somebody very recently interested in this category of smoke-free products, told me, ‘Jacek, your problem is not that there is too little science about this product. Your problem is that there is too much politics about these products,’” Olczak said. “Because the science is very indisputable what these products offer versus a cigarette. It just takes a while until it really starts penetrating and open the last, if I may say, closed minds in the world.”

    Operationally, PMI has smoke-free products available in 106 markets, exceeding the company’s 2025 target, with three of four regions deriving over half of their revenue from smoke-free categories. PMI highlighted early success in Taiwan, where IQOS captured a 6% share in Taipei within three months of launch, and said growth in smoke-free volumes is expected to offset combustible declines. The company is also engaging regulators to expand market access and address illicit trade in the e-vapor segment, while targeting a net debt-to-EBITDA ratio near 2x by end-2026 and increasing dividend growth toward a 75% payout ratio of net profit.

  • Tobacco Products Market Projected to Hit $345B by 20230

    Tobacco Products Market Projected to Hit $345B by 20230

    According to The Business Research Company, the global tobacco products market continues to post steady gains, rising from $281.04 billion in 2025 to a projected $290.96 billion in 2026 at a CAGR of 3.5%, with further growth expected to reach $344.75 billion by 2030 at a 4.3% CAGR. Sustained cigarette consumption in emerging economies, strong brand loyalty, expanding retail networks, and duty-free sales, alongside a shift toward smokeless, heated and next-generation nicotine products are expected to be the driving market forces. According to the report, future expansion will be supported by tighter regulations on combustible products, innovation in nicotine delivery systems, digital age-verification tools and product traceability investments. Regionally, Asia-Pacific led the market in 2025, followed by North America, and is expected to maintain its dominance amid continued consumption growth across key emerging markets.

  • Kyrgyzstan Considers Legalizing Hookah Bars

    Kyrgyzstan Considers Legalizing Hookah Bars

    Kyrgyzstan’s Ministry of Economy and Commerce opened discussions on a draft law to overhaul regulations governing hookah bars, aiming to legalize and license the sector while reducing corruption and boosting state revenues. Developed at the request of the Prime Minister in November 2025, the proposal would allow hookah smoking in specialized licensed establishments, introduce mandatory licensing, enforce sanitary and fire safety standards, and create an official register of operators. Although current legislation bans smoking in public places, at least 33 specialized hookah bars are operating in Bishkek, with authorities collecting millions of soms in fines — penalties officials say are often treated by businesses as routine costs rather than deterrents. (1 som equals 0.011 USD)

    Citing international examples such as Germany and United Arab Emirates, where licensing and strict compliance regimes are in place, the ministry argues that regulated legalization is more effective than outright bans, which in places like Kazakhstan have reportedly driven parts of the market underground. Business groups, including Horeca Club and Kyrgyz Obshchestvo, have expressed support for the licensing model, saying it would bring transparency, reduce corruption risks, and align the sector with public health and safety standards.

  • Pouch Boom Disrupting Scandinavian Tradition: Report

    A report tracking more than 19 million online purchases between 2018 and 2025 suggests nicotine pouches are rapidly overtaking traditional snus in Sweden and Norway, signaling a cultural shift in Scandinavia’s long-standing oral nicotine market. The research found that tobacco-free nicotine pouches now account for the largest share of oral nicotine sales on leading regional e-commerce platforms, as consumers move away from tobacco-based snus. Globally, nicotine pouch sales have surged from roughly 292 million units in 2018 to more than 20 billion in 2023, with strong growth also reported in the UK and U.S. Study co-author Dr. Marina Murphy of Haypp Group said many users perceive pouches as a lower-risk alternative, underscoring the need for public health authorities to closely monitor the fast-evolving category and its broader implications.

  • Rejo Launches Cube in Japan

    Rejo Launches Cube in Japan

    Rejo announced the global debut of Rejo Cube, which it describes as the world’s first modular heat-not-burn (HNB) device, launching in Japan on Feb. 16 through major e-commerce channels at a suggested retail price of JPY 6,980 ($45). The new device features a FlexiCube modular design with a magnetic heating pod and detachable battery available in three color options, allowing multiple combinations, along with a combined 2,250mAh battery capacity supporting up to 20 consecutive sticks per charge. Equipped with OmniHeat 360° heating technology for enhanced flavor delivery and a dual-mode system offering a standard 16-puff setting and a PlusEnjoy Eco Mode for extended use, the device also includes an interactive LCD display. The launch follows the introduction of Rejo Mate Air in Japan in 2025 and marks the company’s latest push to expand its presence in the HNB segment.

  • Stoker’s Offers Two New Dips

    Stoker’s Offers Two New Dips

    Stoker’s launched Stoker’s Proud, a new sub-brand “aimed at meeting growing demand for high-quality, value-priced smokeless tobacco.” Made with 100% American-grown tobacco from Kentucky and Tennessee and manufactured in the United States, Stoker’s Proud features a more traditional long cut format and is positioned as a complementary offering to the flagship Stoker’s line, the company says. The new products are available in two styles — Damn Straight, Long Cut and American Wintergreen, Long Cut — packaged in a classic 1.2-ounce can with an embossed metal lid.

    Thomas Helms III, senior brand director at Stoker’s, said the launch allows the company to serve consumers seeking more affordable options while maintaining its American-made heritage and product standards.

  • Scandinavian Calls for AGM Proposals

    Scandinavian Calls for AGM Proposals

    Scandinavian Tobacco Group sent a notice informing shareholders that any proposed motion to be included on the upcoming Annual General Meeting agenda must be received in writing by March 3. Requests can be sent to  investor@st-group.com or mailed to Scandinavian Tobacco Group. The AGM is scheduled for April 15.

  • Nicotine Pouch Growth Drives Haypp’s 5% Sales Increase

    Nicotine Pouch Growth Drives Haypp’s 5% Sales Increase

    Haypp Group reported strong global growth in nicotine pouches (NPs), with Q4 2025 volume up 28%, driven by the U.S. reintroduction of Zyn in September 2025 and accelerating growth in the UK. NPs now account for 67% of total volume, with FY25 volume up 13% year-over-year. U.S. consumer offtake rose approximately 35% in Q4 2025 and January 2026 volumes jumped 120% year-over-year, with new customer acquisition up over 250%. The company cited improved retention through localized teams, research, and consumer-focused initiatives, achieving an all-time high Net Promoter Score of 82. In the UK, Q4 2025 volume rose 73% and new customer growth reached 112%, accelerating to ~200% and ~125%, respectively, in January.

    Looking ahead, Haypp anticipates regulatory changes in Austria will force an exit by mid-2026, though this market represents less than 1% of total sales. The company strengthened its U.S. infrastructure, increasing overhead by 29% to support Media and Insights and online growth initiatives. Leverage stood at 0.6x net debt/adjusted EBITDA at year-end, with inventory tactically increased ahead of January 2026 price hikes. Haypp’s Board reaffirmed 2028 targets: 18–25% annual revenue growth, an adjusted EBIT margin of 5.5% ±150 bps, and reinvestment of cash flows to support ongoing expansion in its core U.S. and UK markets while maintaining compliance as a competitive advantage.