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Dec 31, 2021
Turning Point Brands Q4 2021 Earnings Report
Turning Point Brands' financial performance remained consistent with the previous year, despite challenges in the NewGen segment and strategic investments.
Key Takeaways
Turning Point Brands reported Q4 net sales comparable to the previous year at $105.3 million, despite a 22% decline in NewGen sales. The company's FY21 EBITDA grew by 20%.
Net sales were comparable with Q4 2020 at $105.3 million despite a 22 percent decline in NewGen sales.
Gross profit decreased 3.8 percent to $50.3 million.
Net income decreased 20.3 percent to $11.5 million.
Adjusted Diluted EPS of $0.66 as compared to $0.77 in the same period one year ago.
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
Turning Point Brands projects Zig-Zag Products sales of $193 to $203 million and Stoker’s Products sales of $127 to $134 million for 2022. They expect to generate consolidated adjusted EBITDA in-line with fiscal year 2021.
Positive Outlook
- Zig-Zag Products sales of $193 to $203 million
- Stoker’s Products sales of $127 to $134 million
- Generate consolidated adjusted EBITDA in-line with fiscal year 2021
- Continue growth initiatives
- Ramp up new products
Challenges Ahead
- Dynamic regulatory environment impacting the vape industry
- Difficult to provide reliable guidance for the NewGen Products segment
- Anticipated volatility in the NewGen Products segment
- Double-digit decline in cigar wraps business
- Gross margin contracted 490 basis points to 57.3 percent, driven primarily by the consolidation of Turning Point Brands Canada
Revenue & Expenses
Visualization of income flow from segment revenue to net income