#1 Menthol Brand in the U.S.!
#1 Menthol Brand in the U.S.!
The U.S. Food and Drug Administration has stated it is seeking information to help determine whether or how to regulate menthol in cigarettes beyond existing regulations for all cigarettes.
Click here to see Lorillard’s position on potential menthol regulation and why we believe menthol cigarettes should be regulated no differently from regular cigarettes.
Second quarter 2014 net sales totaled $1.799 billion compared to $1.804 billion in last year’s second quarter. Net sales in the first half of 2014 increased 0.3% to $3.391 billion compared to $3.381 in the first half of last year.
Second quarter 2014 adjusted earnings per diluted share (EPS) increased 3.7% versus last year to $0.84. First half 2014 adjusted EPS increased 4.1% versus last year to $1.53.
In the first half of 2014, total Lorillard retail market share of cigarettes increased to 15.1%, up 0.3 share points from last year. Newport retail market share also increased 0.3 share points in the first half to 12.9%.
Lorillard celebrated its 250th Anniversary in 2010
Lorillard is the oldest publicly traded company listed on the New York Stock Exchange and one of the oldest continually operating companies in America
Lorillard, Inc., through its Lorillard Tobacco Company subsidiary, is the third largest manufacturer of cigarettes in the United States. Founded in 1760, Lorillard is the oldest continuously operating tobacco company in the U.S. Newport, Lorillard’s flagship premium cigarette brand, is the top selling menthol and second largest selling cigarette in the U.S. In addition to Newport, the Lorillard product line has four additional cigarette brand families marketed under the Kent, True, Maverick and Old Gold brand names. These five brands include 41 different product offerings which vary in price, taste, flavor, length and packaging. In April 2012, Lorillard acquired blu ecigs, the leading electronic cigarette company in the U.S. Lorillard maintains its headquarters and manufactures all of its cigarette products in Greensboro, North Carolina.
“Lorillard continued to deliver industry-leading cigarette operating and market share performance in the second quarter and for the first half of 2014,” stated Lorillard’s Chairman & CEO.
The remarkable winning tradition of Lorillard’s market-leading brands and its seasoned and talented employees resulted in another year of record-setting results in 2013.
Lorillard announced entry into a definitive agreement with Reynolds American in a cash-and-stock transaction valued at $68.88 per share.
Lorillard adjusted EPS increased 3.7% in the second quarter of 2014 and increased 4.5% in the first half of 2014 versus last year as the Company continued to incrementally invest in its global blu electronic cigarette business. During the first half of 2014, Lorillard retail market share of cigarettes increased 0.3 share points from last year to 15.1%.
Acquisition marks the first major step in building Lorillard's global e-cigarette business.