Turning Point Brands Announces 2Q 2019 Results, Increases 2019 Guidance
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Turning Point Brands, Inc. (TPB) Misses Q2 EPS by 1c, Revenues Miss; Raises FY19 Sales Guidance
July 31, 2019 7:38 AM EDTTurning Point Brands, Inc. (NYSE: TPB) reported Q2 EPS of $0.53, $0.01 worse than the analyst estimate of $0.54. Revenue for the quarter came in at $93.3 million versus the consensus estimate of $100.45 million.
Net sales increased 15.1% to $93.3 million;Gross profit increased 15.1% to a record $41.2 million;Net income increased $3.9 million to $13.2 million;Adjusted EBITDA increased 6.0% to $18.3 million (see Schedule A for a reconciliation to net income);Diluted EPS of $0.66 and Adjusted Diluted EPS of $0.53 as compared to $0.47 and $0.51 in the year-ago period, respectively (see Schedule C for a reconciliation to Diluted... More