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.
Category: Business & Finance
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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BAT Kenya Says Illicit Cigarettes Costing $92M in Lost Taxes
BAT Kenya warned that illicit cigarettes now account for about 45% of Kenya’s cigarette market, costing the government an estimated Sh12 billion ($92.4 million) annually in lost tax revenue. The company said the illegal trade is undermining legitimate manufacturers and threatening an industry that supports about 80,000 livelihoods across farming, manufacturing, distribution, and retail.
BAT Kenya Managing Director Sidney Wafula said illicit cigarettes, particularly those entering through porous borders including Uganda, are the company’s biggest challenge. “The continued rise in illicit cigarette trade remains the most significant threat to the sustainability of the legitimate industry and its value chains,” Wafula said, calling for sustained enforcement and stronger border controls.
The warning came as BAT Kenya reported half-year revenue growth of 5% to Sh12.3 billion ($94.7 million), supported by export recovery and growth in nicotine pouches. The company said it expects continued growth in modern oral nicotine products while urging predictable tax policies and stronger action against illicit tobacco trade.
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Indonesia Adds Tax Layer to Bring Illegal Cigarettes into the Fold
Indonesia’s government confirmed it will not raise tobacco excise rates in 2026, opting instead to restructure the cigarette excise system by adding new tax tiers. Finance Minister Purbaya Yudhi Sadewa said the move is intended to bring machine-rolled clove cigarettes (SKM) that have effectively operated outside the current tax structure into the excise system. The government expects the changes to be implemented this year, arguing that revising the tax structure is more appropriate than raising excise rates amid weakening consumer purchasing power and a shift toward lower-priced cigarettes.