The company said that in March 2024, it received pre-tax cash proceeds of approximately $2.4 billion from the ABI Transaction, in which it sold part of its ABI shares, and paid transaction costs of approximately $62 million. It used the proceeds to fund the ASR transactions.

1. 01

   The company said that in March 2024, it received pre-tax cash proceeds of approximately $2.4 billion from the ABI Transaction, in which it sold part of its ABI shares, and paid transaction costs of approximately $62 million. It used the proceeds to fund the ASR transactions.

2. 02

   The company said that in March 2024, it increased its $1.0 billion share repurchase program to $3.4 billion, and that as of March 31, it had paid $2.4 billion for the ASR transactions. It expects final settlement to occur by June 30, 2024.

3. 03

   The company said that in the first 3 months of 2024, net cash provided by operating activities was $2,877 million and net cash provided by investing activities was $2,316 million, while net cash used in financing activities was $5,268 million.

4. 04

   The company said that for the quarter ended March 31, 2024, net revenues in its oral tobacco products segment increased $23 million (3.7%), and reported and adjusted OCI increased $19 million (4.6%). It said domestic shipment volume decreased 3.1%.

Key figures

Quarter ended March 31, 2024

Revenue

$5.6B

Operating income

$2.7B

Net income

$2.1B

EPS

$1.21

Gross profit

$3.3B

Operating cash flow

$2.9B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.