Turning Point Brands Q4 2022 Earnings Report
Key Takeaways
Turning Point Brands reported a slight decrease in net sales for Q4 2022, with growth in Zig-Zag and Stoker's products offsetting declines in the NewGen segment. The company faced a net loss due to non-cash asset impairments, though adjusted net income remained positive. Strategic measures, including share repurchases and debt purchases, were undertaken while maintaining a strong cash balance.
Consolidated net sales decreased by 1.8% to $103.4 million.
Combined net sales for Zig-Zag and Stoker’s Products increased by 1.6%.
Net income decreased significantly to a loss of $16.3 million due to non-cash asset impairments.
Adjusted EBITDA decreased by 2.9% to $23.1 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 $88 to $94 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income