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Category: Business & Finance

  • Philip Morris Korea Appoints New Managing Director

    Philip Morris Korea Appoints New Managing Director

    Philip Morris Korea named Lee Hong-suk as its new managing director, effective May 1, as the company continues to advance its smoke-free product strategy in the country. Lee, who has been with Philip Morris International since 1999, has held senior roles across multiple markets and most recently led the company’s smoke-free products division in Korea.

    In his new role, Lee will oversee operations in one of PMI’s key markets for alternatives such as IQOS, with a focus on expanding the company’s presence and engagement with stakeholders. The company said Lee will be essential as it continues to prioritize smoke-free product development and commercialization in the Korean market.

  • PMI Schedules 2026 Annual Shareholder Meeting

    PMI Schedules 2026 Annual Shareholder Meeting

    Philip Morris International announced that it will hold its 2026 Annual Meeting of Shareholders on May 6 at 9 a.m. ET via a live virtual webcast. The meeting will be accessible online, with presentation materials and a replay available for one year following the event.

    Chairman André Calantzopoulos and CEO Jacek Olczak are scheduled to address shareholders and respond to questions, with participation limited to verified shareholders using a control number.

  • Altria Outperforms Peers as Cigarette Declines Moderate: Motley Fool

    Altria Outperforms Peers as Cigarette Declines Moderate: Motley Fool

    A recent Motley Fool analysis highlights continued declines in U.S. cigarette volumes, though at a slower pace than expected, with industry data showing a 4.3% to 5.5% year-over-year drop and a 5.1% decline so far in 2026. The figures came in better than earlier projections, suggesting the rate of contraction in the traditional cigarette market may be stabilizing somewhat, even as long-term declines persist.

    The report notes that Altria is outperforming key competitors in this environment, with its cigarette volumes down 4.7% compared to sharper declines of 9.3% for British American Tobacco and 9% for Imperial Brands. At the same time, Motley Fool said next-generation products show mixed performance, with nicotine pouches growing 22% while e-cigarette volumes fell 17%, underscoring uneven momentum across reduced-risk categories as companies continue to navigate the transition away from combustible products.

  • Syrian Tobacco Production Rocked by Factory Disruptions

    Syrian Tobacco Production Rocked by Factory Disruptions

    Syria’s state-run tobacco sector has seen a sharp decline in production following widespread disruption to manufacturing facilities, with around 80% of cigarette and shisha factories not fully operational, according to the head of the General Organization of Tobacco (GOT). Officials attribute the shutdowns to damage, looting, and instability linked to recent military developments, which are significantly impacting output capacity.

    As a result, tobacco production fell to 3,209 tons in 2025, while the state entity has reduced its workforce by 35% over the past year.

  • BAT NZ Revenue Down 29% Amid Rising Illicit Trade

    BAT NZ Revenue Down 29% Amid Rising Illicit Trade

    British American Tobacco New Zealand reported a sharp decline in financial performance in 2025, with revenue falling nearly 29% year over year to NZ$180.7 million ($106.6 million), which the company attributed in part to the growth of the illicit tobacco market. According to The Post, industry estimates suggest illicit products accounted for 27.2% of consumption in 2024, equating to roughly NZ$600 million ($354 million) in lost excise revenue, as high cigarette taxes continue to push consumers toward the black market.

    The downturn was reflected across key business indicators, including a significant drop in inventory levels and reduced tax payments, while dividend payouts to the parent company remained stable. BAT has called for stronger enforcement measures, including tougher penalties and retailer licensing, as illicit trade expands alongside broader market shifts such as declining smoking rates and rising vape use.

  • Turning Point Schedules Q1 2026 Earnings Call

    Turning Point Schedules Q1 2026 Earnings Call

    Turning Point Brands, Inc. announced it will report its first quarter 2026 results on May 7, with a conference call scheduled for 8:30 a.m. ET. The company said analysts and investors can join via dial-in or listen through a live webcast on its investor relations website, with a replay available shortly after the call.

  • Fiber-Based Snus Packaging Moves Toward Commercial Production

    Fiber-Based Snus Packaging Moves Toward Commercial Production

    Future Materials Sweden ordered two Scala machines from PulPac to establish industrial-scale production of fiber-based snus cans at a new facility in Ljungby, marking a shift from product development to commercialization. The site will serve as the company’s first production hub, focusing initially on high-volume snus packaging—an area traditionally dominated by plastic—signaling growing momentum for alternative materials in nicotine product packaging.

    PulPac said the investment reflects broader industry interest in sustainable packaging solutions, with its Dry Molded Fiber technology positioned as a scalable alternative. Both companies said the move is aimed at building capacity for future expansion and partnering with additional brands, as demand grows for renewable, lower-impact packaging across the tobacco and nicotine category.

  • Cabbacis Releases 2025 Financials, Eyes 2027 PMTA Application

    Cabbacis Releases 2025 Financials, Eyes 2027 PMTA Application

    Cabbacis reported continued progress on its iBLEND cigarette platform as part of its 2025 annual filing, highlighting ongoing product development and regulatory preparation. The company, which generated no revenue in 2025 and reported a net loss of $1.58 million, is advancing clinical and consumer research to support a planned Premarket Tobacco Product Application (PMTA) submission to the FDA by January 2027.

    Recent studies cited by the company indicate that iBLEND cigarettes—made with very-low-nicotine tobacco and non-intoxicating hemp—reduced cravings and were rated favorably by adult smokers in sensory testing compared to both traditional and other reduced-nicotine products. Cabbacis plans to launch additional real-world usage studies in 2026, while also strengthening its intellectual property portfolio and pursuing a Regulation A capital raise of up to $7.5 million to fund commercialization and regulatory efforts.

  • Altria Expands Investment in U.S. Tobacco Communities

    Altria Expands Investment in U.S. Tobacco Communities

    Altria Group announced that it is launching a series of new investments aimed at supporting U.S. tobacco growers, agricultural research, and rural communities, as part of a broader initiative tied to America’s 250th anniversary. The company, with funding support from Philip Morris USA, said it plans to commit more than $8 million over the next three years toward agricultural education, community development, and industry sustainability efforts.

    A significant portion of the funding will establish endowments at the University of Kentucky and Virginia Tech, each receiving $2 million to support faculty positions and research focused on tobacco agronomy and innovation. The initiative is designed to strengthen long-term agricultural capacity, support growers facing evolving market conditions, and advance research into tobacco production and alternative uses. Additional funding will be directed toward donor-advised community funds in key tobacco-growing regions, aimed at addressing local needs and providing disaster relief support.

    The program also includes expanded employee engagement efforts, with nearly 6,000 employees expected to participate in volunteerism, charitable giving, and civic initiatives. Altria said the broader goal is to reinforce its longstanding relationships with U.S. tobacco farmers while supporting the sustainability and resilience of tobacco-growing communities as the industry continues to evolve.

  • PM Plans Zyn Expansion in Tokyo

    PM Plans Zyn Expansion in Tokyo

    Philip Morris Japan announced it plans to expand sales of its oral nicotine pouch product “Zyn by IQOS” in Tokyo, with a broader rollout beginning May 11 across IQOS stores and convenience retailers. The product will be offered in Cool Mint, Spear Mint, Apple Mint, and Peach flavors, each with “low” and “medium” strength options. The company said the expansion reflects growing demand for discreet, smoke-free alternatives that can be used in a wider range of settings.