Turning Point Brands Q3 sales +5.5% to $109.9M; cuts 2021 guidance; boosts buyback

Turning Point Brands, Inc.

2021-Q3 EPS reported $1.95 revenue$340,188,000

Q3 net sales $109.9M (+5.5%), gross profit $54.3M (+12.3%), adjusted EBITDA $26.3M (+9.9%).
Diluted EPS $0.65; adjusted diluted EPS $0.72, compared to $0.44 and $0.69 in Q3 2020.
Segment: Zig-Zag net sales +17.4% to $42.2M; Stoker's +2.4% to $30.5M; NewGen -3.2% to $37.2M.
FY 2021 guidance lowered: net sales $433-443M (prev $447-462M), adj. EBITDA $104-108M (prev $108-113M).
Board increased share repurchase authorization by $30.7M to $50M; FDA rescinded MDO for vapor products.

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