Welcome to our dedicated page for Turning Pt Brands news (Ticker: TPB), a resource for investors and traders seeking the latest updates and insights on Turning Pt Brands stock.
Turning Point Brands, Inc. reports news around its branded consumer products portfolio, including Zig-Zag smoking accessories, Stoker’s products, and Modern Oral nicotine offerings such as FRE nicotine pouches. Company updates commonly cover segment sales trends, gross profit, adjusted EBITDA, guidance, and the allocation of commercial resources across legacy tobacco-related brands and white pouch products.
Recurring developments also include regular common stock dividends, earnings conference calls, investor communications, and brand marketing partnerships for FRE. Recent product-related announcements have centered on sports and retail activations that expand the visibility and distribution of TPB’s modern oral portfolio among adult nicotine consumers.
Turning Point Brands (TPB) announces the appointment of Louie Reformina as its new CFO, effective May 1, 2021, replacing Bobby Lavan, who is leaving for a new opportunity. Reformina, who joined TPB in 2019, has over 20 years of financial experience. TPB also reported preliminary net sales for Q1 2021 expected at the high end of previous guidance, between $97 million and $102 million. The leadership transition aims to ensure continuity and reinforce the company's growth strategy in the cannabis-related market.
The Board of Directors of Turning Point Brands, Inc. (TPB) has declared a quarterly dividend of $0.055 per common share, reflecting a 10% increase from the previous dividend announced in November 2020. This dividend will be payable on April 9, 2021, to shareholders on record as of March 19, 2021. Turning Point Brands is engaged in the manufacturing and distribution of branded consumer products, including alternative smoking accessories through well-known brands such as Zig-Zag® and Stoker’s®.
Turning Point Brands, Inc. (TPB) announced the pricing of an underwritten registered block trade of 2,000,000 shares at $56.00 each, conducted by funds affiliated with Standard General L.P. The underwriter also received an option to buy 300,000 additional shares. The offering is set to close around February 18, 2023, subject to customary conditions. TPB will not receive any proceeds as it is not offering shares. Barclays is the underwriter for this offering, which is detailed in the filed registration statement with the SEC.
Turning Point Brands (TPB) has announced a proposed block trade of 2,000,000 shares of its common stock by funds affiliated with Standard General L.P. The underwriters, led by Barclays, may purchase an additional 300,000 shares for overallotments. This offering follows a Registration Statement on Form S-3 approved by the SEC on August 14, 2020. TPB will not issue new shares or receive proceeds from this sale, as it is strictly facilitated by the Selling Stockholders. Investors are advised to review the details in the preliminary prospectus.
Turning Point Brands (TPB) reported strong financial results for Q4 and FY 2020, with net sales up 31.2% to $105.3 million in Q4 and 11.9% to $405.1 million for the year. Gross profit surged by 321.8% to $51.8 million in Q4, leading to a net income increase of $25.0 million to $12.7 million. Adjusted EBITDA rose 80.9% to $25.8 million for Q4. The company anticipates 2021 net sales between $412-$432 million, driven primarily by growth in Zig-Zag and Stoker's products, while facing challenges in its NewGen segment.
Turning Point Brands (NYSE: TPB) has priced a private offering of $250 million in 5.625% senior secured notes due 2026. The offering is expected to settle on February 11, 2021, netting approximately $245 million after expenses. Proceeds will be used to repay existing loans and for general corporate purposes. Additionally, TPB plans to establish a new $25 million revolving credit facility. The notes are offered to qualified institutional buyers and have not been registered under the Securities Act, limiting their sale in the U.S.
Turning Point Brands (TPB) announced preliminary operating results for Q4 2020, estimating net sales between $103.5 and $105.5 million, income before taxes between $16.0 and $17.0 million, and Adjusted EBITDA between $25.0 and $26.0 million. These figures are close to the high end of prior guidance. The company will release full year results on February 10, 2021. The estimates are unaudited and subject to changes. TPB's cash position was noted at $156.8 million with long-term debt at $440.0 million as of December 31, 2020.
Turning Point Brands (TPB) announced a proposed private offering of $250 million in senior secured notes due 2026. The proceeds will be used to repay existing debts and for general corporate purposes. Additionally, TPB plans to establish a new $25 million senior secured revolving credit facility. The notes will be offered to qualified institutional buyers and are not registered under the Securities Act. Market conditions may affect the offering's completion.
Turning Point Brands, Inc. (NYSE: TPB) has scheduled a conference call on February 10, 2021, at 10:00 a.m. Eastern, to discuss its fourth quarter and fiscal year 2020 results.
Analysts and professional investors can join via call-in numbers, with the U.S. number being (833) 350-1456 and the international number (647) 689-6664, using Event ID: 4075305. The call will also be available as a live webcast on the company's investor relations page, with a replay accessible two hours post-call.
The Board of Directors of Turning Point Brands, Inc. (TPB) has declared a quarterly dividend of $0.05 per common share, payable on January 8, 2021, for shareholders of record as of December 18, 2020. TPB is a manufacturer and distributor of branded consumer products, including the well-known Zig-Zag® and Stoker’s® brands. The company's products are available in over 210,000 retail locations across North America, reinforcing its market presence and commitment to shareholders.