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Turning Point Brands Inc (TPB) delivers innovative tobacco and consumer products through its iconic Zig-Zag brand and NewGen vapor solutions. This news hub provides investors and industry observers with timely updates on TPB's strategic developments.
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Turning Point Brands (NYSE: TPB) reported strong Q2 2024 results, with adjusted EBITDA up 7% to $27.0 million. Net sales increased 2.8% to $108.5 million, driven by solid performance in Zig-Zag Products (+8.0%) and Stoker's Products (+18.5%). Net income rose 31.0% to $13.0 million, with diluted EPS of $0.68. The company increased its full-year 2024 adjusted EBITDA guidance to $98-$102 million.
Zig-Zag Products segment showed growth in North American Papers & Wraps and cigars. Stoker's Products segment benefited from high teens growth in MST and triple-digit growth in FRE nicotine pouches. The company ended the quarter with total liquidity of $201.0 million and retired $118.5 million of convertible notes on July 15, 2024.
Turning Point Brands (NYSE: TPB), a manufacturer and distributor of branded consumer products including alternative smoking accessories and consumables with active ingredients, has declared a regular quarterly dividend of $0.07 per common share. The dividend will be payable on October 4, 2024, to shareholders of record at the close of business on September 13, 2024. This announcement demonstrates TPB's commitment to providing consistent returns to its shareholders and may indicate the company's financial stability and confidence in its future performance.
Turning Point Brands (NYSE: TPB) has announced its upcoming second quarter 2024 earnings conference call, scheduled for Thursday, August 1st, 2024, at 10:00 a.m. Eastern. The company will discuss its financial results with the investment community during this call. Analysts and professional investors can participate by dialing (888) 330-2502 (U.S., toll-free) or (240) 789-2713 (International), using the Event ID: 6640134. Participants are advised to dial in at least 10 minutes before the call starts. Additionally, a live webcast of the call will be available on the company's investor relations website, with a replay accessible two hours after the call concludes.
Turning Point Brands, Inc. announced strong Q1 2024 results with Adjusted EBITDA of $25.3 million, up 22% YoY, and net sales for Zig-Zag and Stoker's Products increased 10% YoY. The company reconfirmed its full-year 2024 adjusted EBITDA guidance of $95 to $100 million. Total net sales decreased by 3.9% to $97.1 million, with gross profit up by 6.8% to $51.9 million. Net income increased by 58.1% to $12.0 million. Diluted EPS was $0.63 compared to $0.41 in the previous year.
Turning Point Brands, Inc. declared a regular quarterly dividend of $0.07 per common share, payable on July 5, 2024, to shareholders of record on June 14, 2024.
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