{"id":1141,"date":"2013-07-20T13:52:24","date_gmt":"2013-07-20T19:52:24","guid":{"rendered":"http:\/\/theloungeisback.wordpress.com\/?p=1141"},"modified":"2013-07-20T13:52:24","modified_gmt":"2013-07-20T19:52:24","slug":"philip-morris-profits-down-8-percent-in-second-quarter-2013","status":"publish","type":"post","link":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=1141","title":{"rendered":"Philip Morris profits down 8 percent in second quarter 2013"},"content":{"rendered":"

\"philip<\/a><\/p>\n

Oh, happy day. Philip Morris (Altria), the No. 1 private cigarette manufacturer in the world, saw its profits drop a dramatic 8 percent<\/a> in the second quarter of 2013, mostly due to lagging sales. Philip Morris shares dropped 2.5 percent as a result.<\/p>\n

Here’s what is interesting. We all know the sales of cigarettes is down, so at first blush, this doesn’t seem to be a big surprise.<\/p>\n

What IS a big surprise? The biggest reason for the drop in profits is the drop in sales of Philip Morris brands (mostly Marlboro) overseas.<\/p>\n

One thing a lot of people may not realize is that while cigarette sales have been obviously dropping the U.S., the tobacco industry has weathered the storm just fine, mostly by expanding its overseas markets in burgeoning smoking regions such as India,\u00a0 the Philippines and Africa. Philip Morris is blaming a sluggish economy overseas:<\/p>\n

According to USAToday:<\/p>\n

The cigarette maker reported earnings of $2.12 billion, or $1.30 per share, in the quarter ended June 30, down from $2.32 billion, or $1.36 per share, a year ago.<\/p>\n

Excluding excise taxes, revenue fell 2.5% to $7.9 billion despite higher prices. Costs to make and sell cigarettes rose more than 1% to $2.7 billion.<\/p>\n

Cigarette shipments fell about 4% to 228.9 billion cigarettes as it saw volume declines in all of its regions. Total Marlboro volumes fell nearly 6% to 72.4 billion cigarettes.<\/p>\n

Philip Morris International said economic woes in the European Union and increased excise taxes drove shipments down nearly 6% during the quarter. Shipments fell 3.6% in the company’s region that encompasses Eastern Europe, the Middle East and Africa. Shipments also fell 2.4% in Latin America and Canada.<\/p>\n

In Asia, one of its largest growth areas, the company said that cigarette volume fell 3.5%, hurt by a recent tax increase in the Philippines, which saw a 16.5% decline in shipments.<\/p>\n

Smokers face tax increases, bans, health concerns and social stigma worldwide, but the effect of those on cigarette demand generally is less stark outside the United States. Philip Morris International has compensated for volume declines by raising prices and cutting costs.<\/p><\/blockquote>\n

Anytime the tobacco industry is hurting that is great news. Perhaps its a bad economy, but maybe smoking bans, higher taxes and lower smoker rates in other countries is having an effect, as well. Of course, Philip Morris would never admit THAT.<\/p>\n","protected":false},"excerpt":{"rendered":"

Oh, happy day. Philip Morris (Altria), the No. 1 private cigarette manufacturer in the world, saw its profits drop a dramatic 8 percent in the second quarter of 2013, mostly due to lagging sales. Philip Morris shares dropped 2.5 percent as a result. Here’s what is interesting. We all know the sales of cigarettes is … Continue reading Philip Morris profits down 8 percent in second quarter 2013<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":1142,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4,10,18,49,57,69],"tags":[581,584,608],"class_list":["post-1141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altria","category-big-tobacco","category-cigarettes","category-philip-morris","category-smoking-2","category-tobacco-2","tag-altria","tag-big-tobacco","tag-philip-morris"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2013\/07\/philip-morris.jpg?fit=202%2C250&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4hpEa-ip","jetpack-related-posts":[{"id":3751,"url":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=3751","url_meta":{"origin":1141,"position":0},"title":"Philip Morris International earnings, revenue down … big time","author":"Pepe Lepew","date":"February 22, 2016","format":false,"excerpt":"Great story! Philip Morris International's earnings and revenue are dropping, dropping faster than forecast by the company. Philip Morris is a spin-off from Altria, which handles Philip Morris' domestic production of cigarettes. According to several stories I came across, Philip Morris' \u00a0revenues dropped 11 percent at the end of 2015,\u2026","rel":"","context":"In "Philip Morris Interntional"","block_context":{"text":"Philip Morris Interntional","link":"https:\/\/pepesnonsmokingpartytimelounge.com\/?cat=755"},"img":{"alt_text":"PMI","src":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2016\/02\/PMI.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":2360,"url":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=2360","url_meta":{"origin":1141,"position":1},"title":"Slumping cigarette sales prompts R.J. Reynolds-Lorillard to talk merger","author":"Pepe Lepew","date":"July 12, 2014","format":false,"excerpt":"A very interesting story about major changes in the works in the tobacco industry. The No. 2 tobacco company in America -- R.J. Reynolds -- is in talks to buy the No. 3 tobacco company in America -- Lorillard (which I have misspelled Lollilard more times than I can count.).\u2026","rel":"","context":"In "Altria"","block_context":{"text":"Altria","link":"https:\/\/pepesnonsmokingpartytimelounge.com\/?cat=4"},"img":{"alt_text":"reynolds","src":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2014\/07\/reynolds-300x79.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":4166,"url":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=4166","url_meta":{"origin":1141,"position":2},"title":"Philip Morris stock crashes","author":"Pepe Lepew","date":"April 21, 2018","format":false,"excerpt":"Woot! This story made my heart warm. Philip Morris International (a company split off from Altria that focuses specifically on the tobacco market outside of the U.S.) stock dropped 18 percent on April 19, partly because sales of its iQos product -- a device that heats a tobacco plug without\u2026","rel":"","context":"In "Philip Morris Interntional"","block_context":{"text":"Philip Morris Interntional","link":"https:\/\/pepesnonsmokingpartytimelounge.com\/?cat=755"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/04\/1000x-1.png?fit=1000%2C562&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/04\/1000x-1.png?fit=1000%2C562&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/04\/1000x-1.png?fit=1000%2C562&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/04\/1000x-1.png?fit=1000%2C562&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":4386,"url":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=4386","url_meta":{"origin":1141,"position":3},"title":"Philip Morris might stop selling cigarettes in the UK?","author":"Pepe Lepew","date":"August 6, 2021","format":false,"excerpt":"Philip Morris International made a seemingly startling claim the other day \u2013 that the company is looking to drop cigarettes altogether in the United Kingdom within 10 years. PMI is a spin-off of Altria, which was the umbrella corporation over the old Philip Morris company in the U.S. PMI runs\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2021\/08\/iQOS-Advertising-Launch.jpg?fit=960%2C561&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2021\/08\/iQOS-Advertising-Launch.jpg?fit=960%2C561&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2021\/08\/iQOS-Advertising-Launch.jpg?fit=960%2C561&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2021\/08\/iQOS-Advertising-Launch.jpg?fit=960%2C561&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":4213,"url":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=4213","url_meta":{"origin":1141,"position":4},"title":"Altria now trying to buy into Juuls","author":"Pepe Lepew","date":"December 11, 2018","format":false,"excerpt":"Well, this was as predictable as the day is long. I wrote a few days ago about how Altria is expanding its business to marijuana. Altria, which already owns the e-cigarette brand MarkTen, is now making a move to buy into the biggest e-cigarette brand out there, Juul. It's interesting.\u2026","rel":"","context":"In "Juul"","block_context":{"text":"Juul","link":"https:\/\/pepesnonsmokingpartytimelounge.com\/?cat=900"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/12\/altria-considers-stake-in-juulfc.jpg?fit=800%2C533&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/12\/altria-considers-stake-in-juulfc.jpg?fit=800%2C533&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/12\/altria-considers-stake-in-juulfc.jpg?fit=800%2C533&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/12\/altria-considers-stake-in-juulfc.jpg?fit=800%2C533&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":4221,"url":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=4221","url_meta":{"origin":1141,"position":5},"title":"It’s official, Juul is now a subsidiary of Philip Morris, ie Altria","author":"Pepe Lepew","date":"December 21, 2018","format":false,"excerpt":"The tobacco industry will sell you the disease and now will sell you the cure. This came out a couple of weeks ago and apparently this week it became official. Juul, those cutesey little e-cigs that plug into laptop computer and look just like a flash drive, came to completely\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/12\/Dora-and-Juul.jpg?fit=1200%2C506&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/12\/Dora-and-Juul.jpg?fit=1200%2C506&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/12\/Dora-and-Juul.jpg?fit=1200%2C506&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/12\/Dora-and-Juul.jpg?fit=1200%2C506&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2018\/12\/Dora-and-Juul.jpg?fit=1200%2C506&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=\/wp\/v2\/posts\/1141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1141"}],"version-history":[{"count":0,"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=\/wp\/v2\/posts\/1141\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=\/wp\/v2\/media\/1142"}],"wp:attachment":[{"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pepesnonsmokingpartytimelounge.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}