VECTOR GROUP LTD
vectorgroupltd.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed Aug 2, 2024. Its latest SEC filing is a SCHEDULE 13G/A from Feb 13, 2025.
10-Q for Q2 FY2024, filed Aug 2, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Manufactures and sells discount cigarettes in the United States through Liggett Group and Vector Tobacco, with brands including Montego and Pyramid.
10-K for FY2023, filed Feb 16, 2024Tobacco: the manufacture and sale of discount cigarettes in the United States through our Liggett Group LLC and Vector Tobacco LLC…View ↗
The U.S. cigarette market consists of premium cigarettes, which are generally marketed under well-recognized brand names at higher retail…View ↗
Liggett’s value propositions. Liggett produces cigarettes in approximately 100 combinations of length, style and packaging. Liggett’s…View ↗
How Did They Make Money?
Tobacco customers pay for cigarettes when they are shipped, with collection typically three to twelve days later. Real estate income comes from facility sales at the time of sale and property sales at closing.
10-K for FY2023, filed Feb 16, 2024Revenue from cigarette sales, which include federal excise taxes billed to customers, are recognized upon shipment of cigarettes when…View ↗
Revenue from facilities primarily related to Escena and consisted of revenues from food and beverage sales, fees charged for gameplay and…View ↗
Revenue from investments in real estate is recognized from land and building sales at the time of the closing of a sale, which is typically…View ↗
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10-K for FY2023, filed Feb 16, 2024
FY2023 revenue by reportable segment ↗
$1.4B
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10-K for FY2023, filed Feb 17, 2024
$1.4B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Tobacco
Sold outright
10-K for FY2023, filed Feb 16, 2024 |
100%
FY2020: 98%
|
Tobacco, FY2023
$1.4B Sources
|
Sold outright |
|
Real estate
|
0.0%
FY2020: 2.0%
|
Real estate, FY2023
$0 Sources
|
Who Were Their Customers?
Tobacco products are sold mainly to wholesalers and distributors of tobacco and convenience products, as well as large grocery, drug and convenience store chains.
10-K for FY2023, filed Feb 16, 2024
10-K for FY2023, filed Feb 16, 2024
Liggett’s customers are primarily wholesalers and distributors of tobacco and convenience products as well as large grocery, drug and…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 13 cents of every revenue dollar as net income in FY2023 and turned 14 cents into free cash flow.
How Were They Changing?
10-Q for Q2 FY2024, filed Aug 2, 2024
Open tableView ↗
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Oct 7, 2024
JTI completed its acquisition of Vector Group
Vector Group became a wholly owned subsidiary of JTI (US) Holding after the merger.
Sources
8-K, filed Oct 7, 2024
Following the completion of the Offer, on October 7, 2024, Merger Sub merged with and into the Company pursuant to Section 251(h) of the…View ↗
Grew. Revenue grew 27% in 4 years, from $1.1B in FY2019 to $1.4B in FY2023, about 6% a year.
Real estate business
The older report included real estate services, technology and investment through New Valley, including Douglas Elliman’s residential brokerage. The latest report describes New Valley as investing in real estate properties and projects, and Douglas Elliman had been distributed as a separate public company.
10-K for FY2020, filed Mar 1, 2021 10-K for FY2023, filed Feb 16, 2024Tobacco: the manufacture and sale of cigarettes in the United States through our Liggett Group LLC (“Liggett”) and Vector Tobacco Inc.…View ↗
Who Did They Compete With?
Competes with Philip Morris USA, RJ Reynolds Tobacco, and ITG Brands
10-K for FY2023, filed Feb 16, 2024Competition. Liggett’s competition is divided into two segments. The first segment consists of the three largest manufacturers of…View ↗
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