Turning Point Brands reports mixed Q3 earnings; updates FY23 outlook

Nov. 08, 2023 7:39 AM ETTurning Point Brands, Inc. (TPB)By: Meghavi Singh, SA News Editor

  • Turning Point Brands press release (NYSE:TPB): Q3 Non-GAAP EPS of $0.76 beats by $0.16.
  • Revenue of $101.7M (-5.7% Y/Y) misses by $2.67M.
  • Adjusted EBITDA decreased 0.4% to $24.4 million.
  • For the third quarter, CDS net sales were $18.1 million, gross was $4.3 million, and gross margin was 23.8%.

  • Outlook: Revised Annual Adjusted EBITDA Guidance to $92 to $95 million from $90 to $95 million.
  • Creative Distribution Solutions (18% of total net sales in the quarter).

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