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Mar 31, 2023
Turning Point Brands Q1 2023 Earnings Report
Turning Point Brands' Q1 2023 results reflected a slight increase in net sales, offset by declines in gross profit and net income.
Key Takeaways
Turning Point Brands reported a slight increase in net sales for Q1 2023, with growth in Stoker's Products and Creative Distribution Solutions offsetting a decrease in Zig-Zag Products. However, the company experienced declines in gross profit and net income compared to the same period last year.
Total consolidated net sales increased 0.1% to $101.0 million.
Zig-Zag Products net sales decreased by 8.3% due to anticipated reduction of trade inventory.
Stoker’s Products net sales increased by 6.2%.
Net income decreased 30.9% to $7.6 million.
Turning Point Brands
Turning Point Brands
Turning Point Brands Revenue by Segment
Revenue by Segment
Stoker's Products Sales Revenue
CapyFin.comZig-Zag Products Sales Revenue
CapyFin.com Forward Guidance
The Company is maintaining its previous expectation of full-year 2023 adjusted EBITDA to be $88 to $94 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income