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Category: Business & Finance

  • KT&G Reports Record Q3 Results, Raises Annual Outlook

    KT&G Reports Record Q3 Results, Raises Annual Outlook

    KT&G reported record-high third-quarter results, with revenue up 11.6% year-on-year to KRW 1.83 trillion ($1.3 billion) and operating profit rising 11.4% to KRW 465.3 billion ($321 million), the highest in five years. Strong global cigarette sales — up 24.9% — drove growth, while domestic and next-generation product sales remained solid, the company said.

    KT&G raised its annual revenue and profit guidance to double-digit growth and reaffirmed shareholder returns, including a KRW 6,000 ($4.14) minimum dividend per share and KRW 260 billion ($179 million) in stock buybacks.

    The company continues to move forward with plans to expand its nicotine pouch business through a joint acquisition of Another Snus Factory with Altria by year-end.

  • Haypp Reports Q3 2025 Results Amid U.S. Expansion Investments

    Haypp Reports Q3 2025 Results Amid U.S. Expansion Investments

    Haypp reported Q3 2025 net sales of SEK 952.1 million ($95.2 million), an 0.8% increase, driven by strong performance in nicotine pouches, which accounted for 68% of total oral nicotine volume with like-for-like (LFL) volume growth of 21% (LFL excludes the impact of the ZYN shortage, U.S. state closures, and tobacco sales discontinuations.) Gross margin rose to 18.8%, while adjusted EBITDA reached SEK 53.0 million ($5.3 million) and adjusted EBIT was SEK 33.4 million ($3.3 million). Operating profit fell to SEK 6.2 million ($620,000) and net profit to SEK 4.5 million, reflecting a SEK 17.2 million ($1.7 million) litigation settlement.

    Key developments included the return of ZYN to the U.S. market, early indicators of strong sales, and continued growth in Swedish and German vaping and heated tobacco products, which now make up over 70% of Haypp’s Emerging segment. UK nicotine vaping and HnB sales will be discontinued in Q4 2025 pending regulatory clarity.

    “[The] U.S. return of Zyn, U.S. market developments and gross margin expansion strengthen our foundation for growth,” said Gavin O’Dowd, Haypp president and CEO. “The benefits of Zyn’s return will be realized in Q4 2025 with promising early indicators.”

    Haypp also completed most of its global e-commerce platform migration, improving infrastructure for agile growth. CEO Gavin O’Dowd emphasized that U.S. market developments, innovative product availability, and gross margin expansion are strengthening the company’s foundation for future growth.

  • Turning Point Reports Strong Q3 2025

    Turning Point Reports Strong Q3 2025

    Turning Point Brands, Inc. posted third-quarter 2025 net sales of $119.0 million, up 31.2% year-over-year, driven by Stoker’s segment growth of 80.8%. Gross profit rose 39.7% to $70.4 million, while net income increased 70.3% to $21.1 million, the company said today (November 5).

    The company highlighted Modern Oral sales of $36.7 million, up 628% from last year, with U.S. white pouch production lines expected to qualify in H1 2026. The Zig-Zag segment saw a 10.5% decline, mainly due to the Clipper business wind-down.

    TPB ended Q3 with $201.2 million in cash, total liquidity of $267.8 million, and net debt of $98.8 million. The company raised $97.5 million through its ATM offering to accelerate Modern Oral growth.

    For full-year 2025, TPB raised Adjusted EBITDA guidance to $115–120 million and Modern Oral sales forecast to $125–130 million.

  • PMI to Restructure Organization in 2026

    PMI to Restructure Organization in 2026

    Philip Morris International Inc. (PMI) further detailed its new organizational structure aimed at accelerating its transition to a smoke-free company. The changes establish two primary business units, PMI International and PMI U.S., along with its wellness unit, Aspeya, which will all report to CEO Jacek Olczak. The current four geographic segments will be replaced with three reportable segments: International Smoke-Free, International Combustibles, and U.S., with financial reporting under the new structure starting Q1 2026.

    First announced with its third-quarter financials, the changes will become effective January 1, 2026. Frederic de Wilde will serve as CEO of PMI International, and Stacey Kennedy will continue as CEO of PMI U.S.

    The restructuring reflects PMI’s focus on expanding smoke-free alternatives—which now account for 41% of the company’s net revenues—while maintaining growth in its combustibles business and exploring wellness and healthcare opportunities.

  • Drew Estate Names GRE German Distributor

    Drew Estate Names GRE German Distributor

    Drew Estate announced that, effective January 1, 2026, its cigars will be distributed in Germany by GRE Trade GmbH, part of Czech company DanCzek Teplice A.S. GRE Trade. GRE, led by Olaf Ruf, who previously managed Davidoff’s German operations, recently became the distributor of Gurkha cigars.

    Drew Estate, formerly distributed in Germany by Scandinavian Tobacco Group, said the partnership aligns with its focus on innovation and premium quality. CEO Glenn Wolfson expressed optimism about expanding the brand’s presence in the German market with GRE Trade.

  • Universal to Report Q2 Fiscal 2026 Results

    Universal to Report Q2 Fiscal 2026 Results

    Universal Corporation announced it will release its second-quarter fiscal 2026 results after market close on November 5, followed by a conference call at 10 a.m. ET on November 6. The call will be webcast live on www.universalcorp.com and available for replay through February 6, 2026. The call will be “listen-only.”

  • PM to Pay Washington $66M Under MSA Deal

    PM to Pay Washington $66M Under MSA Deal

    The state of Washington said it expects to receive about $66 million from Philip Morris to settle long-running disputes tied to the 1998 Master Settlement Agreement (MSA). The payment represents the state’s decision to resolve the dispute rather than continue prolonged arbitration, freeing funds held in escrow and ending years of uncertainty. The settlement addresses a portion of the state’s claim under the MSA tied to adjustments and enforcement issues, specifically covering obligations through 2015; arbitration will continue for subsequent years.

    The new agreement follows a similar $277 million settlement in April 2025 with R.J. Reynolds and other tobacco manufacturers. Together, these settlements resolve years of arbitration over provisions requiring enforcement against companies that never joined the MSA. Washington has received roughly $3.8 billion in MSA payments since 1998.

  • Bloomberg Donates $5M to Support Denver Flavor Ban

    Bloomberg Donates $5M to Support Denver Flavor Ban

    Billionaire Michael Bloomberg has contributed $2.2 million in recent weeks to bolster Denver’s pro-Referendum 310 campaign, which seeks to preserve the city’s ban on flavored tobacco and nicotine products, according to campaign finance reports. Bloomberg has now reportedly provided nearly $5 million of the campaign’s $5.8 million total fundraising, dwarfing opposition efforts by the “Citizen Power!” group, which has raised about $646,000.

    The referendum asks voters whether to keep the ordinance banning most flavored tobacco, including menthol cigarettes and vapes, within city limits. Supporters cite youth protection and addiction prevention, while opponents argue the ban harms local retailers, reduces city tax revenue, and limits adult choice.

  • Celanese to Close Belgium Acetate Tow Plant by 2026

    Celanese to Close Belgium Acetate Tow Plant by 2026

    Celanese Corp. announced plans to cease operations at its acetate tow facility in Lanaken, Belgium, during the second half of 2026, citing declining demand, regulatory uncertainty, and high operating costs. The company has begun formal consultations with local union representatives, noting that the closure could affect around 160 employees in manufacturing and support roles.

    Celanese said it will continue to meet customer obligations and engage with authorities and the local community to ensure a smooth and responsible transition.

  • Juul Secures Permanent IP Injunction in UK

    Juul Secures Permanent IP Injunction in UK

    Juul Labs won a permanent intellectual property injunction in the UK High Court, converting temporary measures from 2019 into lasting legal protection. The ruling bars four Chinese companies — Greensun Technology, Ouch, Gaish, and Airsmo Tech — from infringing on Juul’s trademarks, product designs, and patents.

    The court said the defendants ignored proceedings and prior orders, failing to respond to Juul or provide required witness statements. The decision mandates the destruction of existing infringing products and publication of the ruling on the companies’ websites.

    Juul said the injunction is a key milestone in its global IP enforcement efforts, ensuring its products and designs remain protected in the UK market and reinforcing its rights against unauthorized competitors.