•
Jun 30, 2021
Turning Point Brands Q2 2021 Earnings Report
Turning Point Brands demonstrated positive growth momentum, led by core market segments and strategic initiatives.
Key Takeaways
Turning Point Brands reported a strong second quarter with net sales increasing by 16.8% to $122.6 million and net income increasing by 49.2% to $15.4 million. The company's performance was driven by exceptional growth in the Zig-Zag segment and solid results from the Stoker's segment. TPB also increased its full-year guidance for net sales and adjusted EBITDA.
Net sales increased 16.8 percent to $122.6 million.
Gross profit increased 25.1 percent to $60.0 million.
Net income increased 49.2 percent to $15.4 million.
Adjusted EBITDA increased 31.7 percent to $30 million.
Turning Point Brands
Turning Point Brands
Turning Point Brands Revenue by Segment
Forward Guidance
TPB projects net sales of $447 to $462 million and Adjusted EBITDA of $108 to $113 million for 2021.
Positive Outlook
- Strong double-digit sales growth for Zig-Zag Products
- High single-digit sales growth for Stoker’s Products
- Flat sales growth for NewGen Products
- Low single-digit declines for vape distribution
- Expected growth in Nu-X
Revenue & Expenses
Visualization of income flow from segment revenue to net income