Turning Point Brands, Inc. (TPB) to Explore Strategic Alternatives for Third-Party Vaping Distribution Business
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Turning Point Brands Announces Third Quarter 2019 Results and Explores Strategic Alternatives for Third-Party Vaping Distribution Business
November 1, 2019 7:00 AM EDTLOUISVILLE, Ky.--(BUSINESS WIRE)-- Turning Point Brands (NYSE: TPB), a leading provider of Other Tobacco Products (OTP) and adult consumer alternatives, today announced financial results for the third quarter ended September 30, 2019.
Results at a Glance
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... More