Overview

* 22nd Century ( XXII ) Q3 revenue missed analyst expectations, net income boosted by insurance settlement

* Company reports zero long-term debt, improved financial position

* Company shifts focus to branded products, expanding VLN availability

Outlook

* 22nd Century Group ( XXII ) emphasizes expansion of VLN products into more states and stores

* Company highlights strategic shift to branded products with VLN technology

* 22nd Century Group ( XXII ) reports improved financial position with no outstanding debt

Result Drivers

* BRANDED PRODUCTS STRATEGY - Co is pivoting to a branded products strategy, increasing store count and distribution agreements for VLN products

* FINANCIAL POSITION - Co improved financial position with no long-term debt and $9.5 mln insurance settlement

* MARKET EXPANSION - Co expands market access and state authorizations for VLN products

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $4.01 $8.28

Revenue mln mln (1

Analyst)

Q3 -$2.88

Adjusted mln

EBITDA

Q3 -$3.21

Operatin mln

g Income

Analyst Coverage

* The one available analyst rating on the shares is "buy"

* The average consensus recommendation for the tobacco peer group is "buy"

* Wall Street's median 12-month price target for 22nd Century Group Inc ( XXII ) is $7.00, about 77.9% above its November 3 closing price of $1.55

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)