$BTI-0.7% reported results today. There were no negative surprises, which is fine.
Key issues remain: declining US cigarette volume and weaker performance in heated tobacco. In addition, the environment is becoming more complex in the e-cigarette segment. This segment is key to NGP (new growth products) profitability targets in 2024. There is a continuing risk of a menthol cigarette ban in the US!
All these issues have long been known and probably factored into the price as well.
The rest of the business, apart from those already mentioned, is doing well. Therefore, I am personally satisfied with the results. Hopefully management will continue to work on the problems.
Capital Structure
Market Cap
81.4B
Enterpr. Val.
95.4B
Valuation
P/E
-4.4
P/S
1.6
Super thanks for the summary. I have shares of $BTI-0.7% in my portfolio and I'm happy with the results as well.
I wonder how many states are raising taxes on cigarettes and alcohol, if it will have any effect on sales (maybe people will stop buying), but so far I don't think it's visible, or am I wrong?
I am also happy with the company and own. I don't know about the buyback, well, the results are not bad, but as you write, this segment is going through a change, evolution or whatever you want to call it and we will see how these companies handle it, but I believe they have good management to handle it. If the price drops, I'll definitely be overbuying. 😊
I have$BTI-0.7% too and I like the results, I'll be overbought, fine dividend stock for me.
Are the results out yet? I thought they weren't due till tomorrow. Do you have a link to the report?