Turning Point Brands Q3 2023 Earnings Report
Key Takeaways
Turning Point Brands reported a 5.6% decrease in total consolidated net sales to $101.7 million, with declines in Zig-Zag and Creative Distribution Solutions segments offset by growth in Stoker's Products. The company repurchased $15 million of convertible bonds and closed a new $75 million ABL facility to enhance liquidity. Adjusted EBITDA guidance for the full year was revised upward to $92 to $95 million.
Total consolidated net sales decreased by 5.6% year-over-year to $101.7 million.
Stoker’s Products net sales increased by 10.1%, driven by double-digit growth in MST.
The company repurchased $15 million of outstanding convertible bonds, reducing debt.
Full-year 2023 adjusted EBITDA guidance was revised to $92 to $95 million.
Turning Point Brands
Turning Point Brands
Turning Point Brands Revenue by Segment
Forward Guidance
The Company expects full-year 2023 adjusted EBITDA to be $92 to $95 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income