Turning Point Brands Q4 2023 Earnings Report
Key Takeaways
Turning Point Brands reported a decrease in net sales for Q4 2023, but experienced growth in gross profit, net income, and adjusted EBITDA. Stoker's Products saw strong sales growth, while Zig-Zag Products sales decreased slightly. The company is focused on strategic initiatives and expects solid growth in Zig-Zag and Stoker's Products businesses in 2024.
Total consolidated net sales decreased by 6.1% to $97.1 million.
Net income increased $26.4 million to $10.1 million.
Adjusted EBITDA increased 7.5% to $24.8 million.
Stoker's Products net sales increased by 18.6%.
Turning Point Brands
Turning Point Brands
Turning Point Brands Revenue by Segment
Forward Guidance
Management expects full-year 2024 adjusted EBITDA to be $95 to $100 million, excluding any contribution from the CDS business.
Revenue & Expenses
Visualization of income flow from segment revenue to net income