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Sep 30, 2022
Turning Point Brands Q3 2022 Earnings Report
Turning Point Brands experienced mixed results with strong growth in Zig-Zag and Stoker's segments offset by a decline in NewGen, leading to a slight decrease in net sales and net income.
Key Takeaways
Turning Point Brands reported a slight decrease in net sales and net income for Q3 2022. While Zig-Zag and Stoker's products saw significant growth, NewGen sales declined. The company is adjusting its outlook for the year due to the current economic environment.
Net sales decreased by 1.9% to $107.8 million.
Combined net sales for Zig-Zag and Stoker's products increased by 17.7%.
NewGen net sales declined by 40.3%.
Net income decreased by 14.3% to $11.5 million.
Turning Point Brands
Turning Point Brands
Turning Point Brands Revenue by Segment
Forward Guidance
The Company expects the following full-year 2022 results: Zig-Zag Products sales of $186 to $191 million, Stoker's Products sales of $128 to $132 million and Consolidated adjusted EBITDA of $96 to $99 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income