Author Topic: MO - Altria Corp  (Read 46047 times)

rb

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Re: MO - Altria Corp
« Reply #180 on: August 02, 2020, 06:19:47 PM »
I can't give you a very informed answer right now because I've opened a bottle of cotes du rhone. But I think it has to do with acquisition accounting rules of IFRS vs US GAAP. BATS bought the part od RJR a few years ago (at what was a fairly generous price). But they're doing about 9 billion sterling CFO against a 60 billion sterling market cap. Yeah, they're getting a helping hand from sterling weakness but that's not bad at all overall.


DooDiligence

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Re: MO - Altria Corp
« Reply #181 on: August 07, 2020, 07:41:29 AM »
Cronos grows their losses nearly 10 fold after the investment by Altria. Their management also seems modeled after Willard as far as acquisitions go. Seems like they've been smoking a lot of their own product.

"Cronos reported a $40-million impairment charge related to a cannabidiol deal with CBD brand Lord Jones."

https://ir.thecronosgroup.com/static-files/66a4fb22-00ca-44b4-8691-8da024ea796a

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Altria
Q2 2020 Earnings Call
Jul 28, 2020, 9:00 a.m. ET

Sal Mancuso on Cronos:

Turning to cannabis. In the second quarter, we recorded an adjusted loss of $17 million related to our Cronos investment, which primarily represents our share of Cronos' adjusted first-quarter 2020 results. Cronos is executing its strategy of developing disruptive intellectual property and building iconic brands. We believe Cronos is making progress in executing its asset-light strategy.

LOL

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TBF, these guys survived massive litigation before & continued to produce tons of FCF so there's probably room for them to shoot themselves in the other foot & still be able to walk around
AFL // BRK.B // CLB an incredibly stupid move // EW // GPC // MO an incredibly stupid ex-CEO // MTB // NVO // PSX // TRMD // ULTA // VDE // VLGEA // WFC

Investable cash 16% + 18 months of survival $