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Vector Group's (VGR) CEO Howard Lorber on Q4 2017 Results - Earnings Call Transcript

Mar. 01, 2018 11:00 AM ETVector Group Ltd. (VGR)4 Comments
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Start Time: 08:30 January 1, 0000 8:51 AM ET

Vector Group Ltd. (NYSE:VGR)

Q4 2017 Earnings Conference Call

March 01, 2018 08:30 AM ET


Howard Lorber - President and Chief Executive Officer

Ron Bernstein - President and Chief Executive Officer of Liggett Vector Brands and Liggett

Bryant Kirkland - Chief Financial Officer


Mark Zhang - Oppenheimer


Ladies and gentlemen, welcome to Vector Group Limited’s Fourth Quarter and Full Year 2017 Earnings Conference Call. During this call, the terms adjusted operating income, adjusted net income, adjusted EBITDA and tobacco adjusted operating income will be used. These terms are non-GAAP financial measures and should be considered in addition to, but not as a substitute for, other measures of financial performance prepared in accordance with GAAP.

Reconciliations to adjusted operating income, adjusted net income, adjusted EBITDA and tobacco adjusted operating income are contained in the company’s earnings release, which has been posted to the Investor Relations section of the company’s website located at www.vectorgroupltd.com.

Before the call begins, I would like to read a Safe Harbor statement. The statements made during this conference call that are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks are described in more detail in the company’s Securities and Exchange Commission filings.

Now, I'd like to turn the call over to the President and Chief Executive Officer of Vector Group, Mr. Howard Lorber.

Howard Lorber

Good morning. And thank you for joining us for Vector Group’s fourth quarter and full year 2017 earnings conference call. With me today are Ron Bernstein, the President and CEO of Liggett Vector Brands and Liggett; and Bryant Kirkland, Vector Group’s Chief Financial Officer.


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Comments (4)

arthur_bishop1972 profile picture
On a more serious note...I'm very happy to see the following in their CC:

---For the fourth quarter, Liggett’s year-over-year retail shipments increased 3.6% compared to a 5.2% decline across the industry. This growth rate is consistent with recent quarters and we were once again the only nationally focused major cigarette manufacturer to register an increase in retail shipments during the three months.

Liggett’s fourth quarter retail market share increased by 34 basis points compared to the prior year and now represents 4% of the total the market. This represents Liggett’s largest retail market share since 1985, a great achievement for our company.---


And this:

---We are also proud of the company’s uninterrupted track record of paying a regular quarterly cash dividend since 1995 and an annual 5% stock dividend since 1999. The company once again reaffirms that its cash dividend policy remains the same.---

Very nice!!!

One beef: NO TALK ABOUT DEBT OR IRs....ridiculous for a co that is so highly levered and with IR on the rise. Hope it's not the elephant in the room and wish we could get an analyst that had the cojones to friggin corner them on it to find out what exactly are their thoughts on their own debt and their plans to deal with higher IRs.

I guess I'm expecting too much from a co that only has one analyst call in tho, huh??
bms00 profile picture
02 Mar. 2018
One would think with only three major stocks in the U.S. domestic tobacco industry, some analyst out there could manage to cover all three. I guess VGR is too boring/not volatile enough to get much attention.
arthur_bishop1972 profile picture
LMFAO...it was just the 4 of them on the entire call!! They could have just gone out for drinks, filmed it on one of their phones, and just upload it to the website...like a scene in 'Goodfellas'...lol.

"Thanks for all the questions, Mark, now here's a carton of Pyramids....smoke up!!!
Now get the hell outta here...b/c me and Ron and Bryant have work to do!!"
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