TobaccoReporter logo

Category: Business & Finance

  • Altria Reports Second-Quarter and First-Half Results

    Altria Reports Second-Quarter and First-Half Results

    Altria Group reported its 2025 second-quarter and first-half business results and narrowed its guidance for 2025 full-year adjusted diluted earnings per share (EPS).

    “In the second quarter, we continued the pursuit of our vision while maintaining our strong and profitable core businesses,” said Billy Gifford, Altria’s CEO. “In oral tobacco, on! delivered strong performance and was the substantial driver of the segment’s growth in the quarter. And we returned significant value to our loyal shareholders during the first half of the year, with more than $4 billion delivered through dividends and share repurchases.

    “We are raising the lower-end of our 2025 full-year guidance and now expect to deliver adjusted diluted EPS in a range of $5.35 to $5.45. This range represents a growth rate of 3.0% to 5.0% from a base of $5.19 in 2024.”

    For the second quarter, net revenues decreased 1.7% to $6.1 billion, primarily driven by lower net revenues in the smokeable products segment, partially offset by higher net revenues in the oral tobacco products segment. Revenues net of excise taxes increased 0.2% to $5.3 billion.

    Reported diluted EPS decreased 36.2% to $1.41, primarily driven by the 2024 gain on the sale of the IQOS Tobacco Heating System commercialization rights, partially offset by higher reported operating companies income (OCI), which includes the 2024 non-cash impairment of the Skoal trademark, a 2024 change in the fair value of contingent payments associated with the acquisition of NJOY and fewer shares outstanding.

    Adjusted diluted EPS increased 8.3% to $1.44, primarily driven by higher adjusted OCI and fewer shares outstanding.

    For the first half of the year, net revenues decreased 3.6% to $11.4 billion, primarily driven by lower net revenues in the smokeable products segment. Revenues net of excise taxes decreased 1.9% to $9.8 billion.

    Reported diluted EPS decreased 40.2% to $2.04, primarily driven by the 2024 gain on the sale of the IQOS Tobacco Heating System commercialization rights, lower reported OCI (which includes the first quarter 2025 non-cash impairment of the e-vapor reporting unit goodwill and 2025 costs associated with the acquisition of NJOY, partially offset by the 2024 non-cash impairment of the Skoal trademark), unfavorable ABI-related special items and 2024 income tax items. These factors were partially offset by fewer shares outstanding, lower change in the fair value of contingent payments associated with the acquisition of NJOY and a lower adjusted tax rate.

    Adjusted diluted EPS increased 7.2% to $2.67, primarily driven by higher adjusted OCI, fewer shares outstanding and a lower adjusted tax rate, partially offset by lower income from our equity investment in ABI and higher financing costs.

  • BAT and Accenture Partner

    BAT and Accenture Partner

    BAT and Accenture have entered into a global strategic partnership.

    As part of the strategic partnership, BAT will transform its Global Business Solutions function and Supply Network Operations. This collaboration will help simplify processes, improve speed to market, enhance compliance agility and create a foundation for future growth.

    The agreement will also provide BAT with access to Accenture’s comprehensive technological capabilities—including analytics and Agentic AI solutions—as well as its global learning capabilities.

    “At BAT, we are building a future-ready operating model—one that puts talent, technology, and trusted partnerships at its core,” said Tadeu Marroco, BAT CEO. “This agreement is more than operational change—it is a step toward a new way of working: one which is interconnected, agile, and underpinned by a digital ecosystem.

    “This approach reflects a broader commitment to how BAT is evolving its business model, developing strategic partnerships with industry leaders with world-class expertise.”

    “BAT has a bold vision to evolve its business to a dynamic new operating model, and we are excited to serve as its reinvention partner,” said Julie Sweet, Accenture chair and CEO. “Through our collaboration, we will harness the power of technology, data, AI, and our robust ecosystem of platform partners and share our deep expertise to help BAT modernize its operations and strengthen its agility and resilience.

    “This new way of working, fueled by connected, strategic partnerships, will help BAT raise the bar for innovation, create value, and drive sustainable growth.”

  • China Tobacco to Expand Distribution of Great Wall Cigars

    China Tobacco to Expand Distribution of Great Wall Cigars

    China Tobacco International (HK) has entered into an exclusive distribution agreement with China Tobacco Sichuan to expand distribution of its Great Wall cigars from duty-free markets in Thailand, Singapore, Hong Kong, and Macau to a global market, excluding mainland China.

  • Turning Points to Host Conference Call

    Turning Points to Host Conference Call

    Turning Points Brands will hold a conference call on Aug. 6, 2025, at 9:30 a.m. Eastern Time to review its second-quarter 2025 results.

    Those interested can participate using call-in numbers (800) 715-9871 (U.S. toll-free) or (646) 307-1963 (international) and event ID 6640134.

    Participants should dial in at least 10 minutes before the start of the call and follow the audio prompts after typing in the event ID. The call will also be broadcast live as a listen-only webcast from the investor relations section of the company’s website. The replay of the webcast will be available on the website two hours following the call.

  • Pyxus to Hold Conference Call

    Pyxus to Hold Conference Call

    Pyxus International will release its financial results for its first quarter of fiscal year 2026 on Aug. 6, 2025.

    The earnings conference call and webcast will be held at 9 a.m. Eastern Standard Time. To participate in the call, investors and analysts can dial (929) 477-0448 or (888) 254-3590 and use conference ID 8412361. There will also be a live webcast.

    Prior to the event, Pyxus will issue a press release disclosing the financial results for the quarter ended June 30, 2025.

    The archived recording of the webcast will be available on the company’s investor relations webpage shortly after the call.

  • Retailers Facing Inflation, Illicit Market Pressures

    Retailers Facing Inflation, Illicit Market Pressures

    Goldman Sachs’ “Nicotine Nuggets” survey of roughly 40,000 U.S. convenience-store outlets (Q3 2024 data) shows 41% of respondents reporting a negative outlook on tobacco and nicotine categories. Drivers include inflation-induced downtrading to discount cigarette brands and suppressed overall foot traffic.

    Consumers are trading down to lower-tier cigarettes and seeking deals more aggressively, while many are switching to oral nicotine pouches or budget vape disposables. Simultaneously, the illicit market is expanding, particularly in flavored disposables and oral nicotine products, which cuts into retailers’ margins.

    Retailers also report that vape volumes have slowed significantly, despite promotional gains in oral products. Disposable flavored e-cigarettes, often illicit, have proliferated, bypassing regulatory channels and complicating compliance for c-store operators.

    Retailers expressed frustration at the slow pace of enforcement, particularly by the FDA, creating competitive imbalances with legally compliant businesses. The combined pressures of inflation, shifting consumer preferences, and illicit product availability are reshaping tobacco category dynamics in convenience retail.

  • JTI Introduces Ploom AURA & EVO in Japan Travel Retail

    JTI Introduces Ploom AURA & EVO in Japan Travel Retail

    Japan Tobacco Inc. officially launched the Ploom AURA device and complementary EVO heated tobacco sticks on May 27, 2025, initially via Ploom stores and the Club JT online platform, but with a broader rollout starting July 1 that saw the products made available across Japan through convenience stores and tobacco specialty shops under travel retail arrangements.

    Ploom AURA employs SMART HEATFLOW™ technology, enabling adjustable heating profiles and enhanced flavor delivery in a compact ergonomic design. EVO, JTI’s premium stick variant, is positioned as a higher-end offering within the heated tobacco category. The product launch reflects JTI’s broader strategic

  • KT&G Stock Hits Record High

    KT&G Stock Hits Record High

    KT&G has reached a historic stock valuation milestone, climbing over 50% this year to peak at ₩144,000 ($104) per share on July 14, fueled by its aggressive global expansion, strategic share buybacks, and investor-friendly dividend policies. The tobacco and e-cigarette giant’s ascent aligns with new economic policies under President Lee Jae Myung, which have improved market sentiment and promoted private-sector investment.

    The company’s shareholder return program has been a major draw, boasting a dividend payout ratio exceeding 50%, which is well above industry norms, and a recent ₩360 billion buyback of 2.5% of its outstanding shares. A second round of buybacks is planned for later this year. Analysts cite this approach as a stabilizing and confidence-building move, especially in contrast to earlier volatility during the pandemic-driven investment surge of 2021.

    KT&G is also poised to benefit from South Korea’s ₩13 trillion in consumer stimulus coupons, which are usable at convenience stores—a key sales channel for its e-cigarette brands. KB Securities revised its domestic e-cigarette growth forecast sharply upward from –6.6% to +6%, citing the likely consumption boost from the government program.

    On the global front, KT&G continues to ramp up international output. Overseas operating profit soared by 312% in Q1 alone, supported by recent facility expansions in Kazakhstan and Turkey.

  • Philip Morris International Reports Record Q2 Earnings

    Philip Morris International Reports Record Q2 Earnings

    Philip Morris International Inc. reported record second-quarter results today (July 22) driven by strong growth in its smoke-free portfolio and resilient performance in combustibles. Net revenues reached an all-time high, with smoke-free products—including IQOS, ZYN, and VEEV—accounting for 41% of total sales. Shipments of smoke-free products rose 11.8%, while gross profit from the category jumped over 23%.

    CEO Jacek Olczak highlighted a “reacceleration” in IQOS and ZYN sales, especially in Europe, Japan, and the U.S., where ZYN’s offtake rose 36% in June. PMI’s e-vapor brand VEEV more than doubled shipment volumes, now leading in several European markets.

    Combustible products like Marlboro remained stable, contributing to a 2.1% revenue increase despite expected volume declines. PMI also declared a quarterly dividend of $1.35 per share. Buoyed by strong year-to-date performance, the company raised its full-year earnings guidance.

    Click here for the full financial report.

  • Cresco Labs to Exit California Cannabis Market

    Cresco Labs to Exit California Cannabis Market

    Cresco Labs Inc. announced plans to sell its California operations as part of a strategic restructuring aimed at boosting cash flow and focusing on higher-margin markets. The multistate cannabis operator is in talks with buyers for its cultivation, manufacturing, and select distribution assets in California, with a deal expected in the coming quarters. Cresco will retain its premium FloraCal brand, continuing its presence in key U.S. markets.

    CEO Charlie Bachtell cited California’s “structural challenges” and the lack of a scaled footprint as reasons for the exit, saying the move will allow Cresco to reallocate capital to core and emerging markets with clearer growth potential.