Vector Group Reports Q2 Earnings Results for FY2023, as of June 30, 2023

August 8, 2023

Categories: Earnings Report, TobaccoTags: , , Views: 45

🌥️Earnings Overview

VECTOR GROUP ($NYSE:VGR) released their financials for the second quarter of the fiscal year 2023, which ended on June 30 2023, on August 4 2023. Revenue for the period was reported as USD 365.7 million, a decrease of 5.6% year over year. Net income was also lower at USD 38.1 million, a drop of 2.7% compared to the same period last year.

Price History

Vector Group reported its Q2 earnings results for FY2023, as of June 30, 2023, on Friday. The stock opened at $12.3 and closed at $11.6, plunging by 11.5% from the prior closing price of 13.1. The company attributed the decreased earnings to certain one-time charges related to the restructuring of its tobacco operations, as well as higher legal and litigation expenses than in previous quarters. While Vector Group announced a restructuring plan to focus on its core businesses and reevaluate underperforming areas in order to improve profitability, it is clear that investors need to see tangible results from these efforts in order to restore confidence in the stock. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Vector Group. More…

    Total Revenues Net Income Net Margin
    1.44k 157.12 11.7%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Vector Group. More…

    Operations Investing Financing
    227.3 -3.73 -122.06
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Vector Group. More…

    Total Assets Total Liabilities Book Value Per Share
    955.94 1.76k -5.17
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Vector Group are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    -7.9% 12.7% 23.1%
    FCF Margin ROE ROA
    14.7% -25.8% 21.7%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    GoodWhale has conducted an analysis of VECTOR GROUP‘s wellbeing in order to give a better idea of what type of investors may be interested in such a company. The Star Chart shows that VECTOR GROUP has earned a high health score of 8/10, considering its cashflows and debt, indicating that it is capable of sustaining future operations in times of crisis. VECTOR GROUP is classified as a ‘rhino’, a type of company we determine has achieved moderate revenue or earnings growth. From our analysis, we see that VECTOR GROUP is strong in terms of profitability, and medium in terms of dividends and weak in terms of asset and growth. These characteristics make it an attractive investment for investors who are looking for a steady return on their investments and are not necessarily concerned with rapid growth. Moreover, VECTOR GROUP’s ability to sustain in times of crisis make it particularly appealing to investors who prefer steady investments with lower risk. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis

  • Peers

    The competition between Vector Group Ltd and its competitors is fierce. All of these companies are fighting for market share in the wine industry, and all of them are trying to get an edge on the others. Vector Group Ltd has a strong market position, and it is looking to maintain its position. The company has a strong brand, and it has a loyal customer base. The company is also expanding its product range, and it is investing in new technology. The company is also looking to increase its sales in China.

    – Marlborough Wine Estates Group Ltd ($NZSE:MWE)

    Marlborough Wine Estates Group Ltd is a wine producer and retailer based in New Zealand. The company has a market cap of 57.91 million as of 2022 and a return on equity of -0.99%. Marlborough Wine Estates Group Ltd produces and sells a variety of wine products under its own brands as well as under private label agreements. The company also owns and operates a number of retail stores in New Zealand and Australia.

    – Delegat Group Ltd ($NZSE:DGL)

    Delegat Group Ltd is a global wine company with vineyards and production facilities in New Zealand, Australia, and Chile. The company has a market capitalization of 1.04 billion as of 2022 and a return on equity of 12.31%. Delegat Group Ltd is engaged in the production and sale of premium wines. The company’s product portfolio includes red wine, white wine, rose wine, and sparkling wine.

    – Foley Wines Ltd ($NZSE:FWL)

    Foley Wines Ltd is a wine company with a market cap of 88.09M as of 2022. The company has a return on equity of 5.19%. Foley Wines Ltd produces and sells wine. The company was founded in 1993 and is headquartered in Auckland, New Zealand.


    VECTOR GROUP reported their earnings results for the second quarter of the 2023 fiscal year on August 4th. Revenue in the quarter was down 5.6% year over year, to USD 365.7 million, while net income dropped 2.7% to USD 38.1 million. As a result of these earnings results, the stock price of VECTOR GROUP fell on the same day. Investors looking at VECTOR GROUP should be aware of this downturn in their earnings and consider whether its potential remains attractive enough to make a long-term investment.

    In addition, they should research potential competitors and their financial performance to gain a more informed opinion on the company’s future prospects.

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