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.
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.
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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.
Turning Point Brands (TPB) reported a 10% increase in FY 2021 net sales to $445.5 million and a 19.8% rise in adjusted EBITDA to $108.1 million. Q4 2021 sales remained steady at $105.3 million, despite a 22% decline in NewGen sales. The gross profit for Q4 fell 3.8% to $50.3 million, with net income down 20.3% to $11.5 million. Diluted EPS was $0.57, compared to $0.68 a year prior. Zig-Zag products showed significant growth, while Stoker’s experienced moderate growth. The company faces challenges in its NewGen segment due to regulations.
Turning Point Brands, Inc. (NYSE: TPB) has announced a conference call to discuss its fourth quarter and fiscal year 2021 financial results. The call is scheduled for February 22, 2022, at 8:30 a.m. Eastern Time. Analysts and investors can join via a toll-free number or an international line, with Event ID 6640134. The call will also be available as a live webcast on the company's website, and a replay will follow shortly after. Turning Point Brands specializes in branded consumer products, with its offerings available in over 210,000 retail outlets across North America.
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.