Turning Pt Brands Inc Stock Price, News & Analysis

Turning Point Brands, Inc. (NYSE: TPB) has received an exemption from the United States Postal Service to ship vapor products to age-restricted vape shops across the U.S. via VaporBeast and other platforms. This milestone enhances their shipping options, allowing for improved order processing, tracking, and faster delivery for customers. The company aims to expand its delivery network continuously, providing a better overall experience for adult consumers and businesses.

Turning Point Brands (NYSE:TPB) announces the retirement of CEO Larry Wexler in January 2022 after nearly two decades of leadership. Yavor Efremov has been appointed as the new President and CEO, effective January 11, 2022. The company anticipates its 2021 revenue and EBITDA to be near the higher end of previously communicated guidance. Wexler will continue serving on the Board of Directors. Efremov, who joined the Board in July 2021, brings extensive M&A and operational experience to the role.

Turning Point Brands, Inc. (NYSE: TPB) has announced the rebranding of ReCreation Marketing to Turning Point Brands Canada, effective December 6, 2021. This change follows TPB's increased equity stake in ReCreation to a majority position, finalized on July 30, 2021. The rebrand aims to strengthen the company's presence in the Canadian market and highlight its commitment to core brands like Zig-Zag. TPB Canada focuses on cannabis accessories and aims for growth through partnerships in the retail sector.

Turning Point Brands, Inc. (TPB) has announced that ReCreation Marketing will now operate under the name Turning Point Brands Canada, effective December 6, 2021. This change follows TPB's majority equity stake acquisition in ReCreation completed on July 30, 2021. The rebranding aims to enhance the exposure of iconic brands like Zig-Zag in Canada and emphasizes TPB Canada's commitment to leading the cannabis accessory market. CEO Larry Wexler highlighted the strategic alignment and potential for growth within the Canadian market.

Turning Point Brands (NYSE: TPB) has launched Zig-Zag Studio, a new entertainment platform aimed at engaging consumers through creativity and storytelling. This initiative features exclusive content including photography, video, and live performances from artists across diverse genres. The studio will showcase talent, with a flagship series titled Studio Sessions and a storytelling series Through My Lens. Additionally, the brand introduces The 1879 Collection, a limited-edition apparel line celebrating its heritage.

The Board of Directors of Turning Point Brands, Inc. (NYSE: TPB) has declared a quarterly dividend of $0.055 per common share. This dividend is set to be paid on January 7, 2022, to shareholders on record as of December 17, 2021. Turning Point Brands specializes in manufacturing, marketing, and distributing branded consumer products, including smoking accessories. Their products are available in over 210,000 retail locations across North America.

Turning Point Brands, Inc. (TPB) reported Q3 2021 net sales of $109.9 million, up 5.5% year-over-year, and a net income increase of 49.3% to $13.4 million. Adjusted EBITDA also rose by 9.9% to $26.3 million. Zig-Zag Products saw significant growth with a 17.4% sales increase, while Stoker's Products and NewGen Products faced mixed results. The company announced a $30.7 million increase in its share repurchase authorization to boost shareholder value. Challenges remain due to regulatory factors impacting the vape segment. Full-year net sales guidance was revised to $433-$443 million.

Turning Point Brands, Inc. (NYSE: TPB) has scheduled a conference call for Tuesday, October 26, 2021, at 10:00 a.m. Eastern Time to discuss its third quarter 2021 results with investors and analysts. Participants can join via a toll-free U.S. number, (888) 660-6731, or an international line at (929) 203-1976, using Event ID: 6640134. The call will also be available as a live webcast on the company’s investor relations webpage, with a replay accessible two hours after the call concludes. For more details, visit Turning Point Brands Investor Relations.

Turning Point Brands (NYSE: TPB) announced that the FDA has rescinded its Marketing Denial Order for certain vapor products pending PMTAs. This decision allows TPB to continue marketing its proprietary vapor products, including Solace™ e-liquids, while under review. The FDA noted that additional relevant information was discovered that requires further evaluation. CEO Larry Wexler expressed optimism about the agency’s reconsideration and emphasized the importance of a transparent PMTA process. This development is crucial for TPB as it strives to maintain its market presence and support adult smokers transitioning to less harmful alternatives.