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Vector Group Ltd  (VGR)
Other Ticker:  
 
    Sector  Consumer Non Cyclical    Industry Tobacco
   Industry Tobacco
   Sector  Consumer Non Cyclical
 
Price: $10.7500 $0.15 1.415%
Day's High: $10.79 Week Perf: 0.94 %
Day's Low: $ 10.52 30 Day Perf: 8.59 %
Volume (M): 1,781 52 Wk High: $ 17.39
Volume (M$): $ 19,144 52 Wk Avg: $12.60
Open: $10.66 52 Wk Low: $9.78



 Market Capitalization (Millions $) 1,684
 Shares Outstanding (Millions) 157
 Employees 1,367
 Revenues (TTM) (Millions $) 647
 Net Income (TTM) (Millions $) 166
 Cash Flow (TTM) (Millions $) -156
 Capital Exp. (TTM) (Millions $) 13

Vector Group Ltd

Vector Group Ltd., a Delaware corporation, is a holding company and is principally engaged in:

the manufacture and sale of cigarettes in the United States through our Liggett Group LLC (“Liggett”) and Vector Tobacco Inc. (“Vector Tobacco”) subsidiaries,

the sale of electronic cigarettes (“e-cigarettes”) in the United States through our Zoom E-Cigs LLC (“Zoom”) subsidiary, and

the real estate business through our New Valley LLC subsidiary, which is seeking to acquire or invest in additional real estate properties or projects. New Valley owns 70.59% of Douglas Elliman Realty, LLC (“Douglas Elliman Realty”), which operates the largest residential brokerage company in the New York metropolitan area.
Financial information relating to our business segments can be found in Note 19 to our consolidated financial statements. Our significant business segments for the year ended December 31, 2015 were Tobacco, E-Cigarettes, and Real Estate. The Tobacco segment consists of the manufacture and sale of cigarettes. The E-Cigarettes segment includes the operations of the Company's e-cigarette business. The Real Estate segment includes the Company’s investment in New Valley LLC, which includes Douglas Elliman, Escena, Sagaponack and investments in real estate ventures.

Liggett and Vector Tobacco

Capitalize on our tobacco subsidiaries’ cost advantage in the U.S. cigarette market due to the favorable treatment that they receive under the Master Settlement Agreement (“MSA”);

Focus marketing and selling efforts on the discount segment, continue to build volume and margin in core discount brands (EAGLE 20’s, PYRAMID, GRAND PRIX, LIGGETT SELECT and EVE) and utilize core brand equity to selectively build distribution;

Continue product development to provide the best quality products relative to other discount products in the marketplace;

Increase efficiency by developing and adopting an organizational structure to maximize profit potential;

Selectively expand the portfolio of private and control label partner brands utilizing a pricing strategy that offers long-term list price stability for customers;

Identify, develop and launch relevant new tobacco products to the market in the future; and

Pursue strategic acquisitions of smaller tobacco manufacturers.
New Valley

Continue to grow Douglas Elliman Realty’s operations by utilizing its strong brand name recognition and pursuing strategic and financial opportunities;

Continue to leverage our expertise as direct investors by actively pursuing real estate investments in the United States and abroad which we believe will generate above-market returns;

Acquire operating companies through mergers, asset purchases, stock acquisitions or other means; and

Invest our excess funds opportunistically in situations that we believe can maximize stockholder value.
Tobacco Operations
General. Liggett is the operating successor to Liggett & Myers Tobacco Company, which was founded in 1873. Vector Tobacco is a discount cigarette manufacturer selling product in the deep discount category. In this report, certain references to “Liggett” refer to our tobacco operations, including the business of Liggett and Vector Tobacco, unless otherwise specified.

Tobacco’s cigarettes pursuant to a contract manufacturing agreement. At the present time, Liggett and Vector Tobacco have no foreign operations.
According to data from Management Science Associates, Inc., Liggett’s domestic shipments of approximately 8.7 billion cigarettes during 2015 accounted for 3.3% of the total cigarettes shipped in the United States during such year. Liggett’s market share decreased 0.1% in 2015 from 3.4% in 2014. Market share in 2013 was 3.3%. Historically, Liggett produced premium cigarettes as well as discount cigarettes (which include among others, control label, private label, branded discount and generic cigarettes). Premium cigarettes are generally marketed under well-recognized brand names at higher retail prices to adult smokers with a strong preference for branded products, whereas discount cigarettes are marketed at lower retail prices to adult smokers who are more cost conscious. In recent years, the discounting of premium cigarettes has become far more significant in the marketplace. This has led to some brands that were traditionally considered premium brands becoming more appropriately categorized as branded discount, following list price reductions. Liggett’s EVE brand falls into that category. All of Liggett’s unit sales volume in 2015, 2014 and 2013 was in the discount segment, which Liggett’s management believes has been the primary growth segment in the industry for more than a decade.

Liggett produces cigarettes in 117 combinations of length, style and packaging. Liggett’s current brand portfolio includes:

EAGLE 20’s — a brand positioned in the deep discount segment for long-term growth re-launched as a national brand in 2013,

PYRAMID — the industry’s first deep discount product with a brand identity relaunched in the second quarter of 2009,

GRAND PRIX — re-launched as a national brand in 2005,

LIGGETT SELECT — a discount category brand originally launched in 1999,

EVE — a 120 millimeter cigarette in the branded discount category, and

USA and various Partner Brands and private label brands.

Under the MSA reached in November 1998 with 46 states and various territories, the three largest cigarette manufacturers must make settlement payments to the states and territories based on how many cigarettes they sell annually. Liggett, however, is not required to make any payments unless its market share exceeds approximately 1.65% of the U.S. cigarette market. Additionally, Vector Tobacco has no payment obligation unless its market share exceeds approximately 0.28% of the U.S. cigarette market. We believe our tobacco subsidiaries have a sustainable cost advantage over their competitors as a result of the settlement.


Liggett’s and Vector Tobacco’s payments under the MSA are based on each respective company’s incremental market share above the minimum threshold applicable to each respective company. Thus, if Liggett’s total market share is 3%, its MSA payment is based on 1.35%, which is the difference between Liggett’s total market share of 3% and its approximate applicable grandfathered share of 1.65%. We anticipate that both Liggett’s and Vector Tobacco’s payment exemptions will be fully utilized in the foreseeable future.


The source of industry data in this report is Management Science Associates, Inc., an independent third-party database management organization that collects wholesale and retail shipment data from various cigarette manufacturers and distributors and provides analysis of market share, unit sales volume and premium versus discount mix for individual companies and the industry as a whole. Management Science Associates’ information relating to unit sales volume and market share of certain of the smaller, primarily deep discount, cigarette manufacturers is based on estimates developed by Management Science Associates.


Business Strategy. Liggett’s business strategy is to capitalize upon its cost advantage in the United States cigarette market resulting from the favorable treatment our tobacco subsidiaries receive under settlement agreements with the states and the MSA. Liggett’s long-term business strategy is to continue to focus its marketing and selling efforts on the discount segment of the market, to continue to build volume and margin in its core discount brands (EAGLE 20’s, PYRAMID, GRAND PRIX, LIGGETT SELECT and EVE) and to utilize its core brand equity to selectively build distribution. Liggett intends to continue its product development to provide the best quality products relative to other discount products in the market place. Liggett will continue to seek increases in efficiency by developing and adapting its organizational structure to maximize profit potential.

Our subsidiary, Zoom, entered the emerging United States e-cigarette market in limited retail distribution outlets in January 2014 with a cautious plan to minimize expense. In January of 2014, we announced the national rollout of our Zoom e-cigarette brand. Uncertainties regarding e-cigarettes are significantly greater today than they were a year ago and, at this point, the trend lines do not predict a bright future. In fact, we have seen significant changes in the e-cigarette market over the past year with disposable e-cigarettes in rapid decline, rechargeable e-cigarettes appearing to be in decline and open system vapor products, that feature refillable tanks and use low-cost flavored liquids, demonstrating mixed results with limited category volume growth but rapidly declining prices. Additionally, we believe uncertainties related to the regulation of e-cigarettes, including open system vapor products, exist. Given this backdrop, our primary focus on the e-cigarette product is to limit risk while staying prepared to pursue opportunities if they occur.



   Company Address: 4400 Biscayne Boulevard Miami 33137 FL
   Company Phone Number: 579-8000   Stock Exchange / Ticker: NYSE VGR
   VGR is expected to report next financial results on November 08, 2022.


Customers Net Income grew by VGR's Customers Net Profit Margin fell to

15.91 %

11.26 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

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Vector Group Ltd's Segments
 
 
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