Can Juul Survive Even After a $700 Million Loan? [The Motley Fool]
Altria Group, Inc. (MO)
Last altria group, inc. earnings: 4/30 07:00 am
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Source: The Motley Fool
Can Juul Survive Even After a $700 Million Loan? The debt financing keeps the lights on for now, but there are other challenges beyond money. With industry leader Juul Labs bearing the brunt of the blame for teenage use of electronic cigarettes, and finding its partner Altria ( NYSE:MO ) now wanting to put some distance between the two of them, the e-cigarette maker was forced to dip into the debt markets to raise $721.6 million. It's a move typically used by cash-starved companies that can't afford the optics of a poor round of secondary financing. While the money lets Juul keep the lights on for some time to come and Altria hasn't completely severed ties, it's still reasonable to ask how much longer Juul will be able to survive under these conditions. The biggest threat to Juul's continued existence is in not getting its pre-market tobacco product application (PMTA) approved by the Food and Drug Administration, one of its harshest critics. The PMTA must be submitted by May 20, and
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News
- Altria Group (MO) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
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- Altria tops first quarter sales on higher pricing, robust demand for smokeless alternatives [Yahoo! Finance]Yahoo! Finance
- Altria tops first quarter sales on higher pricing, robust demand for smokeless alternatives [Reuters]Reuters
MO
Earnings
- 4/25/24 - In-Line
MO
Sec Filings
- 4/25/24 - Form 10-Q
- 4/25/24 - Form 8-K
- 4/23/24 - Form PX14A6G
- MO's page on the SEC website