Adjusted EBITDA was up 1.3% Y/Y to $78.1 million, with the Tobacco segment adjusted EBITDA rising 3.8% Y/Y on Montego brand strategy transition to income-based from volume-based.Liggett's retail shipments rose 1.6% Y/Y compared to an industry decrease of 8.9% Y/Y in the quarter.

According to Management Science Associates data, Liggett's wholesale shipments increased by 2.3% Y/Y versus an industry decline of 6% Y/Y.

In Q1 2023, the Tobacco segment's conventional cigarette (wholesale) shipments rose to around 2.35 billion units from 2.30 billion units a year ago.

Tobacco segment revenues grew 8.1% Y/Y to $334.1 million, with the Tobacco segment wholesale and retail market share increasing to 5.7% and 5.8%, respectively.

EPS of $0.22 missed the consensus of $0.29.Vector Group Ltd (NYSE:VGR) reported a Q1 2023 revenue increase of 7.1% Y/Y to $334.1 million, marginally above the consensus.Need to contact us? Use our Contact Form.

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