Post by icemandios on Feb 16, 2023 14:22:30 GMT
Vector Group Reports Fourth Quarter and Full Year 2022 Financial Results
Record Annual Tobacco Segment Revenues Fueled by Continued Strong Volume
Fourth Quarter 2022 Highlights:
Consolidated revenues of $363.8 million, up 16.0% or $50.1 million compared to the prior year period.
Tobacco segment revenues of $363.8 million, up 18.6% or $57.2 million compared to the prior year period.
Tobacco segment wholesale and retail market share increased to 5.5% and 5.8% from 4.4% and 4.4%, respectively, in the prior year period.
Reported operating income of $89.3 million, up $20.7 million compared to the prior year period.
Tobacco segment operating income of $93.0 million, up 11.0% or $9.2 million compared to the prior year period, primarily attributable to the transition of the Montego brand strategy from volume-based to income-based.
Adjusted EBITDA from Continuing Operations of $92.7 million, up 10.0% or $8.4 million compared to the prior year period.
Tobacco Adjusted EBITDA of $94.5 million, up 10.5% or $9.0 million compared to the prior year period.
Full Year 2022 Highlights:
Record consolidated revenues of $1.44 billion, up 18.0% or $220.3 million compared to the prior year.
Tobacco segment revenues of $1.43 billion, up 18.5% or $222.6 million compared to the prior year.
Tobacco segment wholesale and retail market share increased to 5.4% and 5.5% from 4.1% and 4.2%, respectively, in the prior year.
Reported operating income of $339.0 million, up $18.6 million compared to the prior year.
Tobacco segment operating income of $347.0 million, down 3.7% or $13.3 million compared to the prior year, primarily attributable to the investment in Montego’s significant volume and market share growth.
Adjusted EBITDA from Continuing Operations of $352.2 million, up 0.7% or $2.3 million compared to the prior year.
Tobacco Adjusted EBITDA of $351.1 million, down from $364.4 million in the prior year.
Full PR with tables...
Record Annual Tobacco Segment Revenues Fueled by Continued Strong Volume
Fourth Quarter 2022 Highlights:
Consolidated revenues of $363.8 million, up 16.0% or $50.1 million compared to the prior year period.
Tobacco segment revenues of $363.8 million, up 18.6% or $57.2 million compared to the prior year period.
Tobacco segment wholesale and retail market share increased to 5.5% and 5.8% from 4.4% and 4.4%, respectively, in the prior year period.
Reported operating income of $89.3 million, up $20.7 million compared to the prior year period.
Tobacco segment operating income of $93.0 million, up 11.0% or $9.2 million compared to the prior year period, primarily attributable to the transition of the Montego brand strategy from volume-based to income-based.
Adjusted EBITDA from Continuing Operations of $92.7 million, up 10.0% or $8.4 million compared to the prior year period.
Tobacco Adjusted EBITDA of $94.5 million, up 10.5% or $9.0 million compared to the prior year period.
Full Year 2022 Highlights:
Record consolidated revenues of $1.44 billion, up 18.0% or $220.3 million compared to the prior year.
Tobacco segment revenues of $1.43 billion, up 18.5% or $222.6 million compared to the prior year.
Tobacco segment wholesale and retail market share increased to 5.4% and 5.5% from 4.1% and 4.2%, respectively, in the prior year.
Reported operating income of $339.0 million, up $18.6 million compared to the prior year.
Tobacco segment operating income of $347.0 million, down 3.7% or $13.3 million compared to the prior year, primarily attributable to the investment in Montego’s significant volume and market share growth.
Adjusted EBITDA from Continuing Operations of $352.2 million, up 0.7% or $2.3 million compared to the prior year.
Tobacco Adjusted EBITDA of $351.1 million, down from $364.4 million in the prior year.
Full PR with tables...