Turning Pt Brands Inc Stock Price, News & Analysis

Turning Point Brands (TPB) has announced a proposed block trade of 2,000,000 shares of its common stock by funds affiliated with Standard General L.P. The underwriters, led by Barclays, may purchase an additional 300,000 shares for overallotments. This offering follows a Registration Statement on Form S-3 approved by the SEC on August 14, 2020. TPB will not issue new shares or receive proceeds from this sale, as it is strictly facilitated by the Selling Stockholders. Investors are advised to review the details in the preliminary prospectus.

Turning Point Brands (TPB) reported strong financial results for Q4 and FY 2020, with net sales up 31.2% to $105.3 million in Q4 and 11.9% to $405.1 million for the year. Gross profit surged by 321.8% to $51.8 million in Q4, leading to a net income increase of $25.0 million to $12.7 million. Adjusted EBITDA rose 80.9% to $25.8 million for Q4. The company anticipates 2021 net sales between $412-$432 million, driven primarily by growth in Zig-Zag and Stoker's products, while facing challenges in its NewGen segment.

Turning Point Brands (NYSE: TPB) has priced a private offering of $250 million in 5.625% senior secured notes due 2026. The offering is expected to settle on February 11, 2021, netting approximately $245 million after expenses. Proceeds will be used to repay existing loans and for general corporate purposes. Additionally, TPB plans to establish a new $25 million revolving credit facility. The notes are offered to qualified institutional buyers and have not been registered under the Securities Act, limiting their sale in the U.S.

Turning Point Brands (TPB) announced preliminary operating results for Q4 2020, estimating net sales between $103.5 and $105.5 million, income before taxes between $16.0 and $17.0 million, and Adjusted EBITDA between $25.0 and $26.0 million. These figures are close to the high end of prior guidance. The company will release full year results on February 10, 2021. The estimates are unaudited and subject to changes. TPB's cash position was noted at $156.8 million with long-term debt at $440.0 million as of December 31, 2020.

Turning Point Brands (TPB) announced a proposed private offering of $250 million in senior secured notes due 2026. The proceeds will be used to repay existing debts and for general corporate purposes. Additionally, TPB plans to establish a new $25 million senior secured revolving credit facility. The notes will be offered to qualified institutional buyers and are not registered under the Securities Act. Market conditions may affect the offering's completion.

Turning Point Brands, Inc. (NYSE: TPB) has scheduled a conference call on February 10, 2021, at 10:00 a.m. Eastern, to discuss its fourth quarter and fiscal year 2020 results.

Analysts and professional investors can join via call-in numbers, with the U.S. number being (833) 350-1456 and the international number (647) 689-6664, using Event ID: 4075305. The call will also be available as a live webcast on the company's investor relations page, with a replay accessible two hours post-call.

The Board of Directors of Turning Point Brands, Inc. (TPB) has declared a quarterly dividend of $0.05 per common share, payable on January 8, 2021, for shareholders of record as of December 18, 2020. TPB is a manufacturer and distributor of branded consumer products, including the well-known Zig-Zag® and Stoker’s® brands. The company's products are available in over 210,000 retail locations across North America, reinforcing its market presence and commitment to shareholders.

Turning Point Brands (TPB) has announced a strategic investment of $15 million in dosist™, a leading cannabinoid company, alongside an exclusive co-development agreement for a national CBD brand. TPB has the option to invest an additional $15 million within the next year. The partnership aims to leverage dosist's expertise in cannabinoid products and branding to expand TPB's market reach. dosist plans to launch its THC-free products nationwide in early November. This collaboration is positioned to enhance both companies' growth in the burgeoning cannabis market.

Turning Point Brands, Inc. (NYSE: TPB) has scheduled a conference call for discussing its 2020 third-quarter results on Tuesday, October 27, 2020, at 10:00 a.m. Eastern. Analysts and professional investors can join by calling 844-889-4324 (U.S.) or 412-317-9262 (International). Participants are advised to dial in 10 minutes early. An audio replay will be available post-call at 877-344-7529 (U.S.) and 412-317-0088 (International), with an access code of 10148836. Additionally, the call will be live-streamed on the company's investor relations website.

About TPB: TPB is a manufacturer and distributor of branded consumer products, known for brands like Zig-Zag® and Stoker’s®.