And everyone. Howard. morning you, good Thank
and Firstly, I'd hope are well. like safe to you echo words Howard's families and all earlier that your and
the While very our organization this of challenge. times, I'm to way these responded difficult undoubtedly proud are has
Our these help no task will employees and see and on embraced doubt qualities team I've tremendous through at us remained have spirit. hand focused the crisis. the this
period, indicated, with Liggett the COVID-XX as which and associated On adjustments our address do many despite we health an performed the income. pandemic, during safety in operating volume for those quarter. contributed XX% as we operating various adjusted market basis, increased the quarter with to first well made share Howard employees increase well As during business. issues and to whom Year-over-year a the difficulties the tobacco in
guidance. as our to as continue ensure ongoing applicable performance continuity, follow to CDC we and regulations As work business orders will we and maximize business well statewide
some initial ship unfounded As continued to of concerns These were the of wholesaler, cigarettes. the related concerns buying thus March, have consumer ongoing there retailer, COVID-XX we and usual. proven availability products and have unfolded as anticipatory far, situation in to
shipments as underlying remained that Liggett's as of should estimate stable. buying a of the XX% second noted result However, be year-over-year Liggett's It increased approximately this in pattern. we earnings the quarter, that value
XXs remain pleased the and noted phase our calls, with As previous are Eagle we results strategy the far. we achieved thus in on of have business income growth
profit We then. on since the XXXX prices and share increasing volume have in and began late brand grown
successful and and programs XXs we going market forward. proven growth promotions optimistic about continued Our Eagle remain have
now combined Tobacco. and I to will Vector the Liggett of Group tobacco turn financials
ago. For million to months XXXX, March ended $XXX.X to $XX.X million period. $XXX.X for the operating three compared the corresponding months for year ended million XX, XXXX the was were XXXX $XX.X period three for the revenues XX, a Liggett million compared adjusted income Tobacco corresponding March
spending In benefits. addition strong underlying to previously Settlement Master from higher Liggett's and resulted tailwind pricing, mentioned, adjustment demand, efficiencies earnings inventory the and Agreement promotional increased product
previously were for shipments increased a wholesale The Management versus while quarter wholesale the Associates, the Liggett's buying are shipments to the Science up According X% wholesale overall of industry year X.X% quarter. prior shipments in mentioned. patterns reflection first increase
less [ph]rightly These impact we retail typically indicator effects we shipments are wholesalers trade As as with various a and retail are industry move, better manufacturers shipments. volumes. of actions can believe pronounced trends, by
in at shipments the wholesale retail the pattern, less the was level. effect accelerated much While somewhat quarter first than affected was the by buying
For retail quarter, Liggett's retail shipments X.X% shipments first while year the increased industry X.X%. prior over decreased the quarter
XX% XXs the first points share and quarter Liggett's brand brands. increased grew more compared prior-year March its and an remains growth than XX, profit to XXs Eagle Liggett Pyramid it X.X%. to effective the basis XXXX, and volume in continues the US. and the discount period, retail third volume As retail for XX largest by nationwide Eagle sold to to complement other approximately is stores provide now in XX,XXX of
approximately of anticipated presence brand deliver continues company, the and substantial market strong and stores remain XXX,XXX managed performance a to Despite of volume declines, profit with is distribution and sold pleased nationwide. the in we Pyramid. currently The has
see brands Marlboro We various impact such to continue Newport premium from and little economy Red Special extensions. line Camel as Blend,
discount companies, industry's results this most market first from impact smaller our While active. segment the focused limited XXXX quarter had remains
small is the force. geographic including to broad as create and distribution, programs, pressure Various strategic focused targeted technological capabilities our approach, of relative companies sales the these and and marketplace market executional they of markets. our consumer the companies to our advantage base our promotional Liggett's pricing undercut seek
the As We're or remain products. seen pleased category very our in be aware, segment. our quarter first to particularly business of developments performance, you're pleased there XXXX non-combustible to exposure to have we material and to vapor in light vapor not that have we with Today, of impact a no the macroeconomic range other any continues from environment. all negative current
from strategy, sales our continue Eagle as Pyramid, profit share look volume, delivering we focused market remain to and on distribution and generating and growth strong validate results XXs. we of the Our ahead, income from while base operating
distancing. implemented factory among protocols As things workplace, and federal and require health evaluations we or guidelines, have mentioned protocols state exceed meet employee earlier, other physical that
confident are We arrangements may are for well equipped mitigation that and made manage issues of to contingencies. have any that we rapid arise
and risk market general and and supporting business programs have market industry to subject confident always while are keep we to we addition, growth. our profit In that operating remain share effective
you, Thanks for back your to attention. Howard. And
