8-K
filed August 2, 2023, 7:59 PM ET
ticker TPB
CIK 0001290677
earnings
confidence high
sentiment positive
materiality 0.75
Turning Point Brands Q2 net sales up 2.6% to $105.6M; raises FY2023 EBITDA guidance to $90-95M
Turning Point Brands, Inc.
2023-Q2 EPS reported
$0.94
revenue$206,551,000
- Net income rose 83% to $9.9M; adjusted diluted EPS $0.79 vs $0.70 a year ago.
- Stoker's segment net sales up 7.3% to $36.1M led by double-digit MST growth; Zig-Zag up 1.1%.
- Adjusted EBITDA grew 2.2% to $25.3M; full-year guidance raised to $90-95M from $88-94M.
- Repurchased $15.1M aggregate principal of 2.50% convertible notes due 2024 during Q2.
- SG&A decreased to $31.9M from $33.3M; recorded $4.1M impairment on minority investments.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Turning Point Brands, Inc. reported the second quarter ended June 30, 2023 results: revenue $105.6 million, net income $9.9 million, EPS $0.53. Guidance raised.
- Period
- the second quarter ended June 30, 2023
- Revenue
- $105.6 million
- Net income
- $9.9 million
- EPS
- $0.53
- Guidance
- raised
- Result
- reported results
Exact text from the filing
Q2 2023 vs. Q2 2022 • Total consolidated net sales increased 2.6% to $105.6 million o Zig-Zag Products net sales increased by 1.1% o Stoker’s Products net sales increased by 7.3% o Creative Distribution Solutions net sales decreased by 1.3% • Gross profit increased 2.0% to $52.5 million • Net income increased 83.0% to $9.9 million • Adjusted net income increased 8.4% to $15.3 million (see Schedule B for a reconciliation to net income) • Adjusted EBITDA increased 2.2% to $25.3 million (see Schedule A for a reconciliation to net income) • Diluted EPS of $0.53 and Adjusted Diluted EPS of $0.79 compared to $0.30 and $0.70 in the same period one year ago, respectively
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Turning Point Brands, Inc. updated its full-year 2023 guidance (raised).
- Period
- full-year 2023
- Guidance
- raised
- Result
- guidance update
Exact text from the filing
At this time, the Company expects full-year 2023 adjusted EBITDA to be $90 to $95 million (compared to previous outlook of $88 to $94 million).
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.