Turning Point Brands Announces Third Quarter 2019 Results and Explores Strategic Alternatives for Third-Party Vaping Distribution Business
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UPDATE: Turning Point Brands, Inc. (TPB) Tops Q3 EPS by 11c, Revenues Beat; Offers FY19 Revenue Guidance Above Consensus, Affirms Q4 Revenue Outlook
November 1, 2019 7:04 AM EDT(Updated - November 1, 2019 7:12 AM EDT)
Turning Point Brands, Inc. (NYSE: TPB) reported Q3 EPS of $0.56, $0.11 better than the analyst estimate of $0.45. Revenue for the quarter came in at $96.8 million versus the consensus estimate of $80.55 million.
Third Quarter 2019
(Comparisons vs. same period year-ago)
Net sales increased 16.1% to $96.8 million;Gross profit increased 18.2% to $42.8 million;Net income decreased $1.7 million to $6.3 million;Adjusted EBITDA increased 14.0% to $18.8 million (see Schedule A for a reconciliation to net income);Diluted EPS of $0.31 and Adjusted Diluted EPS of $0.56 as compared to $0.40 and $0.48... More