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PM USA’s cigarette volume down sharply in second quarter despite share increase

| July 24, 2013

Philip Morris USA’s domestic cigarette shipment volume during the three months to the end of June, at 33,819 million, was down by 6.7 percent on that of the three months to the end of June 2012.

Marlboro shipments fell by 7.2 percent to 29,119 million; shipments of other premium brands fell by 10.9 percent to 2,040 million, while shipments of discount brands rose by 3.9 percent to 2,660 million.

PM USA’s share of the domestic retail cigarette market during the three months to the end of June, at 50.7 percent, increased by 0.3 of a percentage point on that of the three months to the end of June 2012. Marlboro’s share, at 43.7 percent, was unchanged, while the share of its other premium brands was down by 0.2 of a percentage point to 3.1 percent, and the share of its discount brands was up by 0.5 of a percentage point to 3.9 percent.

Middleton’s cigar shipment volume during the three months to the end of June, at 298 million, was down by 8.0 percent on that of the three months to the end of June 2012. Black & Mild brand shipments fell by 7.8 percent to 294 million, while shipments of other brands dropped by 20.0 percent to 4 million.

Middleton’s share of the domestic retail cigar market during the three months to the end of June, at 30.0 percent, was down by 0.5 of a percentage point on that of the three months to the end of June 2012. Black & Mild’s share was down by 0.5 of a percentage point to 29.8 percent, while the share of other brands was unchanged at 0.2 percent.

U.S. Smokeless Tobacco Co. and PM USA’s combined, domestic, smokeless-products shipment volume during the three months to the end of June, at 200.5 million cans and packs, was up by 4.6 percent on that of the three months to the end of June 2012.

Shipments of Copenhagen were up by 8.8 percent to 106.7 million; those of Skoal were up by 1.8 percent to 73.8 million, while those of other brands were down by 5.2 percent to 20.0 million.

USSTC and PM USA’s share of the U.S. domestic market for smokeless products during the three months to the end of June, at 55.0 percent, was unchanged from that of the three months to the end of June 2012. Copenhagen’s share was up by 1.6 percentage points to 29.0 percent; Skoal’s share was down by 1.0 percentage point to 21.7 percent, while the share of other brands was down by 0.6 of a percentage point to 4.3 percent.

Meanwhile, PM USA’s cigarette shipment volume during the six months to the end of June, at 63,320 million, was down by 6.0 percent on that of the six months to the end of June 2012.

Marlboro shipments fell by 6.4 percent to 54,554 million; shipments of other premium brands fell by 11.7 percent to 3,822 million, while shipments of discount brands increased by 4.8 percent to 4,944 million.

Middleton’s cigar shipment volume during the six months to the end of June, at 571 million, was down by 12.4 percent on that of the six months to the end of June 2012. Black & White brand shipments dropped by 12.3 percent to 563 million, while shipments of other brands fell by 20.0 percent to 8 million.

USSTC and PM USA’s combined, domestic, smokeless-products shipment volume during the six months to the end of June, at 376.2 million, increased by 4.0 percent on that of the six months to the end of June 2012.

Copenhagen shipments were up by 8.8 percent to 200.2 million; Skoal shipments were up by 0.8 percent to 138.2 million, while shipments of other brands were down by 6.7 percent to 37.8 million.

The Altria Group yesterday published its second-quarter and first-half results for 2013. Its second-quarter reported diluted earnings per share (EPS) increased by 5.0 percent to $0.63, and its second-quarter adjusted diluted EPS, which excludes the impact of special items, increased by 5.1 percent to $0.62

Altria’s first-half reported diluted EPS increased by 10.9 percent to $1.32, and its first-half adjusted diluted EPS increased by 7.4 percent to $1.16.

“Altria delivered solid financial results for the second quarter and first six months of 2013,” said Chairman and CEO Marty Barrington. “The company’s diverse business model delivered adjusted diluted earnings per share growth of 5.1 percent for the second quarter and 7.4 percent for the first half of the year.”

“All three of our reportable segments delivered adjusted operating companies income and margin growth in the second quarter and first half.

“Altria’s companies also continue to innovate with new products for adult tobacco consumers. Nu Mark’s plans for introducing MarkTen e-cigarettes into a lead market in August of this year are on track.”

Category: Breaking News

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