Latest news with #tobacco
Yahoo
an hour ago
- Business
- Yahoo
Juul granted FDA marketing approval
This story was originally published on C-Store Dive. To receive daily news and insights, subscribe to our free daily C-Store Dive newsletter. Dive Brief: Juul has been granted marketing approval for five e-cigarette products, the U.S. Food and Drug Administration announced Thursday. The approved products include Juul's e-cigarette device as well as Virginia tobacco and menthol-flavored Juul pods in 3% and 5% nicotine concentration varieties. This announcement reverses an earlier decision from the FDA, which denied Juul's application in June 2022. Dive Insight: Juul can now market and sell these five items in the U.S. The FDA reached its decision after Juul submitted additional data, including a two-year-long study focused on whether Juul products can help consumers quit regular cigarettes, according to the announcement. After the FDA denied Juul's application in June 2022, Juul filed a lawsuit in response, prompting an appeals court judge to issue a stay. The FDA issued its own administrative stay in July 2022 for 'additional review.' It later rescinded the marketing denial as it re-evaluated the e-cigarette company's data. 'Following an extensive scientific review, the FDA determined that evidence provided by the company – including new information the company submitted in response to a deficiency letter from the FDA – demonstrates that these specific products meet the legal standard set by the 2009 Family Smoking Prevention and Tobacco Control Act,' the FDA noted in its announcement. Juul now joins RJ Reynolds' Vuse, Altria's Njoy and Japan Tobacco's Logic as the only e-cigarette products allowed to be marketed to customers in the U.S. Juul said in a statement that the FDA's approval 'marks an important milestone' that lets the company look ahead at what's next. 'Today's authorization of the JUUL System, including the market-leading tobacco-flavored vapor product in the U.S., enables us to submit applications with updates to the device and pod hardware with the goal of improving the user experience,' the company said. Marketing approval may provide a boost to Juul's sales, since the company can now begin advertising and using other promotions. Juul is currently third in U.S. sales among e-cigarette companies, behind Njoy and Geek Bar maker Guangdong Qisitech, according to a report from Goldman Sachs. That same report noted that Juul's sales have declined by over 14% in the past year. Two other companies — Triton Distribution and Vapetasia — also filed suit to get their applications reconsidered. However, a Supreme Court ruling earlier this year found no improprieties in the FDA's denial.
Yahoo
2 hours ago
- Business
- Yahoo
Philip Morris Q2 Earnings Beat Estimates, FY25 EPS View Raised
Philip Morris International Inc. PM reported second-quarter 2025 results, with both the top and bottom lines increasing year over year. Net sales missed the Zacks Consensus Estimate, while earnings beat the were fueled by robust momentum across regions and product categories, including continued momentum in IQOS and ZYN, along with a stable combustibles performance. Reflecting this strong performance, management has raised its full-year adjusted earnings were $1.91 per share, which increased 20.1% year over year. Excluding currency effects, the adjusted EPS jumped 18.9%. The bottom line beat the Zacks Consensus Estimate of $ revenues of $10,140 million increased 7.1% on a reported basis and 6.8% on an organic basis. Revenues missed the Zacks Consensus Estimate of $10,255 million. The increase in organic revenues was backed by positive pricing variance (mainly driven by elevated combustible tobacco pricing) and favorable volume/mix (attributable to increased smoke-free product volumes), partially offset by lower cigarette volumes and an unfavorable cigarette mix. Philip Morris International Inc. Price, Consensus and EPS Surprise Philip Morris International Inc. price-consensus-eps-surprise-chart | Philip Morris International Inc. Quote PM's Quarterly Performance: Key Metrics and Insights During the second quarter, Philip Morris' net revenues from combustible products grew 2.1% year over year and increased 2% organically, despite a return to expected volume declines. Growth was driven by continued strong pricing, partially offset by unfavorable mix from the smoke-free business increased 15.2% (up 14.5% on an organic basis) and formed 41% of the company's total revenues. Within the smoke-free business, inhalable smoke-free products (SFP) were driven by strength in IQOS, while oral SFP was fueled by increased shipment volumes of shipment volumes (including heated tobacco units, oral SFP and cigarettes) increased 1.2% to 200.1 billion units in the second adjusted operating income ascended 16.1% (up 14.9% on an organic basis) to $4,246 million, driven by improved pricing variance and a positive volume/mix, somewhat negated by increased marketing, administration and research costs. Decoding PM's Region-Wise Performance Following the sale of Vectura Group Ltd. on Dec. 31, 2024, the company revised its segment reporting to integrate ongoing Wellness and Healthcare results into the Europe segment. Its second-quarter 2025 financial results reflect this updated segment revenues in the European region grew 8.7% (up 7.3%) on an organic basis to $4,234 million. This was a result of positive pricing variance and favorable volume/mix. Total HTU and cigarette shipment volumes in the region decreased 2.4% to 55.1 billion the SSEA, CIS & MEA regions, net revenues increased 5.6% (up 4.9% organically) to $2,926 million on improved pricing variance and favorable volume. Total cigarette and HTU shipment volume in the region rose 1.1% to 95.3 billion the EA, AU & PMI GTR regions, net revenues grew 2.1% (up 1.6% organically) to $1,708 million on favorable volume/mix. Total cigarette and HTU shipment volume in the region rose 3.6% to 28.3 billion in the Americas rose 12.7% (up 17% on an organic basis) to $1,272 million. This was a result of the positive volume/mix and predominantly driven by nicotine pouches in the United States. Total cigarette and HTU shipment volumes in the Americas increased 1.6% to 15.3 billion units. Philip Morris: Other Updates The company ended the quarter with cash and cash equivalents of $4,138 million, long-term debt of $42,431million and a total shareholder deficit of $10,012 Morris announced its quarterly dividend of $1.35 per share ($5.40 on an annualized basis). However, the company stated that it would not make share repurchases in 2025. Here's What to Expect From PM in 2025 Adjusted EPS for 2025 is now envisioned in the $7.43-$7.56 range, indicating 13-15% growth. Earlier, the metric was expected in the $7.36-$7.49 per share range, implying 12-14% growth. Adjusted EPS, excluding currency, is likely to be in the $7.33-$7.46 band, indicating a year-over-year increase of 11.5-13.5%. For full-year 2025, PM expects reported EPS in the band of $7.24-$7.37 compared with $4.52 in total international industry volume for cigarettes and HTUs (excluding China and the United States) is likely to decline nearly 1% in 2025. The total cigarette and smoke-free product shipment volume for Philip Morris is expected around 1%, driven by a smoke-free product volume increase of 12-14%, partly offset by cigarette volume declines, which are now forecasted to be around 2%.Nicotine pouch shipment volumes in the United States are expected to be between 800 million and 840 million cans for 2025, PM expects net revenues to increase 6-8% on an organic basis. The operating income on an organic basis is likely to rise 11-12.5%.Management expects an operating cash flow of more than $11.5 billion in 2025. Capital expenditures are likely to be nearly $1.6 billion, primarily implying investments to support the smoke-free the third quarter of 2025, Philip Morris envisions adjusted EPS in the range of $2.08-$2.13, including a projected favorable currency impact of five of this Zacks Rank #2 (Buy) company have gained 8.1% in the past three months compared with the industry's growth of 10%. Image Source: Zacks Investment Research Other Top-Ranked Stocks TreeHouse Foods, Inc. THS manufactures and distributes private-brands snacks and beverages in the United States and internationally. It presently flaunts a Zacks Rank #1(Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here. The Zacks Consensus Estimate for TreeHouse Foods' current financial-year sales indicates growth of 0.4% from the year-ago number. THS delivered a trailing four-quarter earnings surprise of 58.8%, on Holdings, Inc. POST operates as a consumer-packaged goods holding company in the United States and internationally. It currently carries a Zacks Rank of 2. POST delivered a trailing four-quarter earnings surprise of 22.9%, on consensus estimate for Post Holdings' current fiscal-year sales and earnings indicates growth of 2.6% and 5.3%, respectively, from the prior-year Chefs' Warehouse, Inc. CHEF distributes specialty food and center-of-the-plate products in the United States, the Middle East and Canada. It currently carries a Zacks Rank of 2. CHEF delivered a trailing four-quarter earnings surprise of 10.2%, on Zacks Consensus Estimate for The Chefs' Warehouse's current fiscal-year sales and earnings indicates growth of 6% and 12.2%, respectively, from the prior-year levels. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Philip Morris International Inc. (PM) : Free Stock Analysis Report TreeHouse Foods, Inc. (THS) : Free Stock Analysis Report The Chefs' Warehouse, Inc. (CHEF) : Free Stock Analysis Report Post Holdings, Inc. (POST) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Business
- Yahoo
Philip Morris Stock Tumbles as Sales Miss Estimates
Shelby Knowles / Bloomberg via Getty Images Even with Tuesday's losses, shares of Philip Morris International have added more than a third of their value year-to-date. Philip Morris International (PM) shares sank over 7% in Tuesday afternoon trading after the tobacco giant missed quarterly sales estimates as demand for cigarettes continued to decline. The maker of Marlboro cigarettes and IQOS heated tobacco devices reported second-quarter revenue rose 7.1% year-over-year to $10.14 billion, while analysts surveyed by Visible Alpha were looking for $10.27 billion. Adjusted earnings per share of $1.91 beat forecasts. Cigarette shipment volume fell 1.5% year-over-year to 155.2 billion, with total combustibles sales up just 2.1% to $6 billion. Meanwhile, smoke-free product volume jumped 11.8% to 44.8 billion, and sales surged 15.2% to $4.2 billion. CEO Jacek Olczak said the results reflected 'excellent momentum in our multicategory smoke-free business.' The company boosted its outlook for full-year adjusted EPS to $7.43 to $7.56 from the previous $7.36 to $7.49. However, it said it anticipates total cigarette and smoke-free shipment volume to be up approximately 1%, down from its previous guidance of a 2% gain, as cigarette volumes are expected to slide about 2%. Even with Tuesday's losses, shares of Philip Morris International have added more than a third of their value year-to-date. TradingView Read the original article on Investopedia
The Guardian
7 hours ago
- Health
- The Guardian
Smoking avatars and online games: how big tobacco targets young people in the metaverse
In the image, a group of friends is standing in a bar, smoke winding upwards from the cigarettes in their hands. More lie in an open packet on the table between them. This is not a photograph taken before smoking bans, but a picture shared on social media of a gathering in the metaverse. Virtual online spaces are becoming a new marketing battleground as tobacco and alcohol promoters target young people without any legislative consequences. A report shared at the World Conference on Tobacco Control last month in Dublin set out multiple examples of new technologies being adopted to promote smoking and vaping, including tobacco companies launching digital tokens and vape companies sponsoring online games. It comes from a monitoring project known as Canary – because it seeks to act as the canary in a coalmine – run by the global public health organisation Vital Strategies. 'Tobacco companies are no longer waiting for regulations to catch them up. They are way ahead of us. We are still trying to understand what we're seeing in social media, but they're already operating in unregulated spaces like the metaverse,' says Dr Melina Magsumbol, of Vital Strategies India. 'They're using NFTs [non-fungible tokens]. They're using immersive events to get our kids to come and see what they're offering.' In India, one tobacco company made and promoted an NFT, which represents ownership of digital assets, to celebrate its 93rd anniversary. Canary scans for and analyses tobacco marketing on social media platforms and news sites in India, Indonesia and Mexico. It is expanding to more countries, including Brazil and China, and to cover alcohol and ultra-processed food marketing. It is not set up to scan the metaverse – a three-dimensional, immersive version of the internet that uses technology such as virtual reality headsets to enable people to interact in a digital space. But it has picked up references to what is going on there via links and information shared on older social media sites. Researchers say that children are likely to be exposed to any tobacco marketing in the new digital spaces given the age profile of users – more than half of the metaverse's active users are aged 13 and below. Social media companies have deep knowledge of how to drive engagement and keep people coming back for more views, says Dr Mary-Ann Etiebet, chief executive of Vital Strategies. 'When you combine that with the experience and the knowledge of the tobacco industry on how to hook and keep people hooked … those two things together in a space that is unknown and opaque – that scares me.' Mark Zuckerberg, metaverse's prominent backer, says in future 'you'll be able to do almost anything you can imagine' there. Already, that includes shopping and attending virtual concerts. But Magsumbol describes it as 'a new battleground for all of us' that is 'being taken over by corporate entities that actually push health-harming products'. 'My daughter is very quiet, she's an introvert. But online, on [gaming platform] Roblox, when she is killing zombies and ghosts, she morphs into a different avatar – she's like Alexander the Great mixed with Bruce Lee and John Wick. She is so bloodthirsty,' she says. 'Online we behave differently. Social norms change … the tobacco industry knows that very well. And it's so easy to subtly sell the idea that you can be anything, anyone you want.' The metaverse art the team saw in Indonesia was shared on an Instagram account for electronic music lovers linked to Djarum, one of Indonesia's largest cigarette companies. Another example showed a group having coffee, and looking for a lighter. It all amounts to efforts to 'normalise' smoking and vaping, says Magsumbol. 'This kind of behaviour is happening and being done by your avatars, but is it seeping into your real life? 'Digital platforms are being used to bypass traditional advertising restrictions and target young audiences,' she says. 'What we're seeing here is not just a shift in marketing, it's a shift in how influence works.' Sign up to Global Dispatch Get a different world view with a roundup of the best news, features and pictures, curated by our global development team after newsletter promotion Other researchers have set out examples of alcohol being promoted and even sold in virtual stores. Online marketing is a global issue. At the same conference, Irish researchers shared findings that 53% of teenagers saw e-cigarette posts daily on social media. A World Health Organization official (WHO) says a rise in youth smoking in Ukraine is due, in part, to Covid and the war pushing children 'too much online' and exposing them to marketing. In India, Agamroop Kaur, a youth ambassador at the Campaign for Tobacco-Free Kids, includes social media marketing when speaking to schoolchildren about the dangers of tobacco and vaping. She has seen vapes suggested as a 'wellness' item. 'I think educating youth on what an advertisement looks like, why it's false, how you might not even see that it's from the tobacco industry and it's [content posted by an] influencer is really powerful because then that builds a skill – so that when they're on social media, because they are digital natives, they're able to see all of that and know that it's fake and it's not something they should be attracted by. I think building those skills early from high school to middle school, and even younger, is really important.' The WHO Framework Convention on Tobacco Control requires countries to implement bans on tobacco advertising, promotion and sponsorship. Last year, signatories agreed that action was needed to tackle the increasing focus on 'digital marketing channels such as social media, which increases adolescent and young people's exposure to tobacco marketing'. But there is no easy answer, says Andrew Black at the framework's secretariat. 'The challenge of regulating the internet is not a problem that's unique to tobacco. It's a real challenge for governments to think about how they can provide the protections that society is used to in a world where borders are broken down because of these technologies.' Nandita Murukutla, who oversees Canary, says regulators should take note: 'What starts out small and you ignore, rises up to a certain point when you've got critical mass, and after that, it just explodes, and dialling something back is virtually impossible.' The best public interest journalism relies on first-hand accounts from people in the know. If you have something to share on this subject you can contact us confidentially using the following methods. Secure Messaging in the Guardian app The Guardian app has a tool to send tips about stories. Messages are end to end encrypted and concealed within the routine activity that every Guardian mobile app performs. This prevents an observer from knowing that you are communicating with us at all, let alone what is being said. If you don't already have the Guardian app, download it (iOS/Android) and go to the menu. Select 'Secure Messaging'. SecureDrop, instant messengers, email, telephone and post See our guide at for alternative methods and the pros and cons of each.
Yahoo
7 hours ago
- Business
- Yahoo
Philip Morris's revenue misses estimates as cigarette volumes drop
(Reuters) -Philip Morris International (PMI), which makes Marlboro cigarettes, reported second-quarter revenue on Tuesday that fell short of analysts' estimates as cigarette sales volumes slipped. The company's shares dropped about 5% in premarket trading. While PMI has been faster than its peers to transition from traditional tobacco products to smoke-free alternatives, such as its flagship heated tobacco device IQOS and nicotine pouch brand ZYN, it is still grappling with sharp declines in tobacco use. Tobacco products, including cigarettes, are still the main engine of PMI's business, and besides competition from smoke-free products, regulatory headwinds and tough economic conditions have hit consumers' wallets. As a result, while PMI's total sales rose 7.1% to $10.14 billion in the latest quarter, it fell short of analysts average estimate of $10.33 billion, as per data compiled by LSEG. Shipment volumes in its cigarettes business declined 1.5%, while, in contrast, volumes in oral smoke-free products business rose 23.8%. PMI saw steady growth in inhalable alternative nicotine products, notably of IQOS, across Europe and Japan and cities such as Jakarta, Mexico and Seoul. Earlier this year, PMI began selling IQOS on a small scale in the United States, a move that ultimately is expected to help fuel its push to diversify revenue streams beyond cigarettes. In the fast-growing nicotine pouches market, PMI's ZYN is already a U.S. market leader. PMI, whose shift from cigarettes has been faster than rivals Altria and BATS, aims to generate half of its sales from smoking alternatives by the end of 2025. The company's second-quarter adjusted profit of $1.95 per share beat market estimates of $1.86 per share. It expects an adjusted profit of $7.43 to $7.56 per share for the year, compared with its prior forecast of $7.36 to $7.49. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
