Turning Pt Brands Inc Stock Price, News & Analysis

Turning Point Brands (NYSE: TPB) scheduled a conference call for July 27, 2022, at 8:30 a.m. Eastern Time to discuss its second quarter 2022 results with investors. Interested participants can register using the U.S. toll-free number (888) 330-2502 or the international line (240) 789-2713, entering Event ID 6640134. A live webcast will also be available on the company’s website, with a replay accessible two hours after the call.

Turning Point Brands manufactures a variety of consumer products, including alternative smoking accessories, available in over 215,000 retail outlets across North America.

The Board of Directors of Turning Point Brands (NYSE: TPB) has declared a quarterly dividend of $0.06 per common share. This dividend is set to be paid on July 8, 2022, to shareholders of record as of the close of business on June 17, 2022. Turning Point Brands specializes in branded consumer products, including alternative smoking accessories, and has a substantial retail presence across North America.

Turning Point Brands (TPB) reported Q1 2022 net sales of $100.9 million, down 6.3% year-over-year, despite a 10.1% sales increase in Zig-Zag and Stoker's products. Gross profit decreased 2.8% to $51.8 million, and net income fell 6.7% to $11.0 million. Adjusted EBITDA dropped 9.8% to $25.3 million. The NewGen segment faced a 37.1% sales decline due to regulatory impacts. Zig-Zag contributed significantly to growth, with an 11.4% increase in sales, while Stoker's saw an 8.4% increase. Despite challenges, the company maintains a strong balance sheet and continues share repurchases.

Turning Point Brands, Inc. (NYSE: TPB) will host a conference call on April 27, 2022, at 8:30 a.m. Eastern to discuss its first quarter 2022 results with investors. Analysts can join by calling (888) 330-2502 for U.S. participants and (240) 789-2713 for international participants, using Event ID 6640134. A live webcast will also be available on the company's website, with a replay accessible two hours post-call. Turning Point Brands offers a range of consumer products, including Zig-Zag® and Stoker’s® brands, across over 215,000 retail outlets in North America.

Turning Point Brands (NYSE: TPB) has appointed Summer Frein as its new Chief Marketing Officer, effective immediately. Frein brings over 15 years of marketing and brand experience, previously serving as General Manager at Cronos Group and holding key roles at Altria Group. Her expertise will be essential in shaping Turning Point's marketing strategy as the company diversifies its offerings. President and CEO Yavor Efremov expressed confidence in Frein's ability to enhance brand profiles and boost consumer acceptance.

The Board of Directors of Turning Point Brands (NYSE: TPB) has authorized a $24.6 million increase to its share repurchase program, raising the total to $50.0 million. Approximately $25.4 million remains from a prior approval on October 25, 2021. The company plans to execute repurchases through various means, subject to market conditions and legal requirements. There is no obligation for TPB to repurchase a specific number of shares, and the program may be suspended or discontinued at any time.

The Board of Directors of Turning Point Brands (NYSE: TPB) announced a quarterly dividend of $0.06 per share, marking a 9% increase from the previous dividend. This dividend will be payable on April 8, 2022, to shareholders of record as of March 18, 2022. Turning Point Brands manufactures and distributes a range of branded consumer products, including smoking accessories and consumables, through popular brands like Zig-Zag® and Stoker’s®.

Turning Point Brands (NYSE: TPB) has announced an exclusive distribution agreement with Flamagas for CLIPPER® lighters in the U.S. and Canada. CLIPPER is recognized as the top reusable lighter globally and ranks second overall among lighter brands. This deal aims to leverage TPB's extensive distribution network, reaching over 210,000 retail locations. The partnership is expected to enhance CLIPPER's market presence, capitalizing on its strong global following and successful marketing strategies.