Posts tagged: altria

The News Keeps Breaking Big Tobacco’s Way

Tweet Last week, Big Tobacco players Altria, Lorillard, and Reynolds American closed out a 13-year legal battle with a victory. These tobacco companies and others were sued by the city of St. Louis and 37 area hospitals for nearly $455 million in a bid to recover costs from 1993 to 2010 of treating smoking-related illnesses for patients who were unable to pay. The hospitals claimed that the industry had purposely produced an “unreasonably d ... Jump to full article >>

Tobacco Net Gets Price Kick

Tweet U.S. tobacco companies’ first quarter earnings are getting a boost from recent price increases but the year’s outlook remains mixed as domestic sales volumes shrink due to state laws banning indoor smoking and the graying of core customers. On Thursday, Philip Morris International Inc., the world’s largest tobacco company by revenue, posted a 13% profit increase on higher prices and gains in Asian markets. Reynolds Americ ... Jump to full article >>

Altria doesn’t expect to see tobacco production decline in Ky.

Tweet Despite higher taxing and increasing regulations, Altria isn’t expecting a decline in tobacco production in the state this year. Altria, the parent company of Philip Morris USA and U.S. Smokeless Tobacco, employs about 330 Kentuckians. “(The lack of decline) is a good thing,” Altria spokesman Ken Garcia said. “Some farmers that have grown for us over a period of time and have been successful may have an opportunity to grow more.” ... Jump to full article >>

Altria’s future largely rests on Marlboro cigarettes

Tweet Also: Why did the bottom fall out of Janus Forty’s shares? Question: I’m concerned about my shares of Altria Group Inc. What is the latest outlook? Answer: It is no secret that the U.S. cigarette industry is in a long-term decline because of the health risks of smoking. Its sales could be hurt by a Food and Drug Administration mandate for more-graphic health warnings on cigarette packs that takes effect in October 2012. Potenti ... Jump to full article >>

Altria Announces New Management Structure

Tweet Altria Group, Inc. (Altria) announced that it has adopted a focused senior officer structure that will enhance the Company’s responsiveness to evolving regulatory and marketplace opportunities and continue to develop future leadership capability for the Company. Michael E. Szymanczyk will remain Chairman of the Board and Chief Executive Officer of Altria. Reporting to Mr. Szymanczyk will be four business areas, each led by a single ex ... Jump to full article >>

Altria’s Companies Launch Consumer Voter Education Campaign

Tweet With an eye on the upcoming elections on November 2nd, Altria’s tobacco operating companies have launched a voter education and awareness campaign for their adult tobacco consumers. Philip Morris USA, U.S. Smokeless Tobacco Company and John Middleton will each be reaching out to many of their adult consumers stressing the importance of voting and encouraging them to make their voices heard on November 2nd. These efforts are designed to h ... Jump to full article >>

Altria’s Profit Rises on Marlboro Prices, Snuff Demand

Tweet Altria Group Inc., the largest U.S. tobacco company, reported third-quarter profit that beat analysts’ estimates, helped by higher prices for Marlboro cigarettes and snuff sales. Net income rose 28 percent to $1.13 billion, or 54 cents a share, from $882 million, or 42 cents, a year earlier, the Richmond, Virginia-based maker of Copenhagen snuff said today in a statement. Analysts surveyed by Bloomberg had projected 52 cents, the average ... Jump to full article >>

DOJ, Tobacco Lawyers Back in Court Over Injunction

Tweet Government lawyers and attorneys for a group of tobacco companies met Wednesday to discuss how to implement a sweeping injunction lodged against the industry in 2006 by a federal judge who found the companies conspired for decades to conceal the health risks of smoking. The brief status hearing marked the first time in more than two years that the attorneys for both sides appeared in the U.S. District Court for the District of Columbia. The ... Jump to full article >>

Altria to Pay $971 Million to Resolve a Tax Dispute

Tweet The Altria Group, the nation’s largest tobacco company, announced on Tuesday that it would pay $971 million to resolve a tax dispute concerning leasing transactions in the years 2000 through 2003. Analysts said the decision was not surprising. “A big number, but expected,” David J. Adelman, tobacco industry analyst for Morgan Stanley, wrote in a note to investors. The company made the announcement in a filing with the Securities and E ... Jump to full article >>

Reynolds American spent $688,881 lobbying in 1Q

Tweet NEW YORK Cigarette maker Reynolds American Inc. spent $688,881 in the first quarter to lobby the federal government on a cigarette trafficking act, according to a disclosure report. That’s down 37 percent from the $1.1 million that the company spent in the year-ago period, but nearly even with the than the $668,825 it spent in the fourth quarter of 2009. The company lobbied Congress on legislation involving the Prevent All Cigarette T ... Jump to full article >>