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 (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.
Key Resources: Access official press releases, earnings reports, and analysis of regulatory filings. Track product innovations like hemp wraps and vapor products alongside market expansion efforts.
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Stay Updated: Bookmark this page for real-time insights into TPB's navigation of tobacco industry trends and regulatory landscapes. Check regularly for new filings and expert commentary on company milestones.
Turning Point Brands, Inc. (NYSE: TPB) will hold a conference call to discuss its first quarter 2023 results on Wednesday, May 3, 2023, at 10:00 a.m. Eastern. Analysts and professional investors can participate via two call-in numbers: (888) 330-2502 for U.S. participants and (240) 789-2713 for international participants, using Event ID: 6640134. It's recommended to join the call at least 10 minutes early. Additionally, the call will be available as a live webcast through the investor relations section of the company's website. A replay will be accessible two hours post-call. Turning Point Brands markets products such as Zig-Zag® and Stoker’s® and has a presence in over 215,000 retail outlets across North America.
Turning Point Brands (TPB) reported FY 2022 financial results, with total net sales declining 6.8% to $415 million. Q4 2022 saw a 1.8% decrease in consolidated net sales to $103.4 million, influenced by an 11.1% drop in NewGen net sales. Combined Zig-Zag and Stoker’s Products net sales rose 1.6%. Gross profit decreased 5.6% to $205.5 million, while net income fell to $11.6 million, impacted by $41.1 million in non-cash asset impairments. The company aims for adjusted EBITDA of $88 to $94 million in 2023. CEO Graham Purdy emphasized a strategic shift towards organic growth initiatives.
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