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22nd Century (XXII)
NASDAQ:XXII
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Earnings Data
Report Date
Mar 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2018
|% Change Since: -63.31%
|Next Earnings Date:Aug 07, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with strategic improvements and financial restructuring leading to a stronger foundation for future growth. However, the current challenges in revenue decline and VLN product performance indicate areas needing attention. The company is optimistic about achieving profitability and growth in 2025.Company Guidance
During the earnings call for 22nd Century's third quarter of 2024, the company provided guidance highlighting several key metrics and strategies. Net revenue for the quarter was reported at $5.9 million, a decrease from $7.9 million in the previous quarter, primarily due to a reduction in shipped volume from 719,000 to 439,000 cartons. Additionally, operating expenses were reduced to $2.8 million from $8.3 million in the same quarter last year, following significant cost-cutting measures. The company anticipates stable revenue in the fourth quarter, with increased export volumes counterbalancing a decline in filtered cigar shipments. Looking ahead, 22nd Century plans to enhance its VLN product lineup and expand distribution, especially within its CMO customers' product lines, aiming for significant growth in 2025. The balance sheet showed improvement with net debt reduced from $13.3 million at the start of the year to $3 million by quarter's end, and cash reserves bolstered by an additional $5 million raised in October. The company targets breakeven in the first quarter of 2025, supported by ongoing strategic initiatives and amendments to their credit facility, which reduce debt service obligations and provide financial flexibility.Improved Business Model and Strategy
The company has restructured into a simpler business model with a focus on contract manufacturing and VLN low nicotine cigarette products, providing a clear path forward.
CMO Business as Revenue Driver
The CMO business is the primary revenue source, with strong customer relationships and opportunities for growth in both domestic and export markets.
Cost Reduction and Improved Financial Health
Operating expenses decreased significantly from $8.3 million in the prior year to $2.8 million, with a strong balance sheet and reduced net debt from $13.3 million to $3 million.
Debt Amortization Reduction
The company amended its senior secured credit facility to reduce monthly debt payments by 50% through August 2025, improving liquidity.
Positive Cash Flow and Profitability Target
The company is targeting breakeven in Q1 of 2025, with a focus on generating profits and positive cash flow.
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XXII Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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XXII Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $13.90 | $13.57 | -2.37% |
| Aug 13, 2024 | $97.54 | $93.82 | -3.81% |
| May 15, 2024 | $209.25 | $213.30 | +1.94% |
| Mar 28, 2024 | $284.04 | $259.20 | -8.75% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does 22nd Century (XXII) report earnings?
22nd Century (XXII) is schdueled to report earning on Mar 06, 2025, TBA Not Confirmed.
What is 22nd Century (XXII) earnings time?
22nd Century (XXII) earnings time is at Mar 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is XXII EPS forecast?
Currently, no data Available
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