VGR - Vector Non-GAAP EPS of $0.32 revenue of $365.7M

2023-08-03 17:06:56 ET

• Vector press release ( NYSE: VGR ): Q2 Non-GAAP EPS of $0.32.
• Revenue of $365.7M (-5.6% Y/Y).
• Tobacco segment revenues of $365.7 million, down 2.3% or $8.7 million compared to the prior year period.
• Tobacco segment wholesale and retail market share increased to 5.4% and 5.8% from 5.3% and 5.5%, respectively, in the prior year period.
• Operating income of $71.6 million, down 21.0% or $19.1 million compared to the prior year period.
  • Tobacco segment operating income of $75.1 million, down 15.0% or $13.2 million compared to the prior year period. The decline resulted from an accrual of $18 million to settle long-standing litigation and was partially offset by a higher gross margin from price increases.
• Adjusted EBITDA of $94.1 million, down 1.1% or $1.0 million compared to the prior year period.
  • Tobacco Adjusted EBITDA of $94.7 million, up 5.3% or $4.8 million compared to the prior year period.

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