Turning Point Brands Q1 2024 Earnings Report
Key Takeaways
Turning Point Brands reported a 3.9% decrease in total consolidated net sales to $97.1 million, but experienced growth in Zig-Zag and Stoker's products. Gross profit increased by 6.8% to $51.9 million, and net income increased significantly by 58.1% to $12.0 million. The company reaffirmed its full-year 2024 adjusted EBITDA guidance of $95 to $100 million.
Total consolidated net sales decreased by 3.9% to $97.1 million.
Zig-Zag Products net sales increased by 11.5% year-over-year.
Stoker’s Products net sales increased by 8.0% year-over-year.
Net income increased 58.1% to $12.0 million.
Turning Point Brands
Turning Point Brands
Turning Point Brands Revenue by Segment
Forward Guidance
The Company is maintaining its previous expectation of full-year 2024 adjusted EBITDA of $95 to $100 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income