Turning Point Brands Announces First Quarter 2020 Results
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Turning Point Brands (TPB) PT Raised to $29 at Cowen
April 28, 2020 1:35 PM EDTCowen analyst Vivien Azer raised the price target on Turning Point Brands (NYSE: TPB) to $29.00 (from $22.00) while maintaining an Outperform rating.
Azer commented, "TPB reported sales and adjusted EBITDA ahead of expectations as the business had momentum pre-COVID 19, and then saw... More
UPDATE: Turning Point Brands, Inc. (TPB) Tops Q1 EPS by 20c, Revenues Beat; Offers 2Q & FY20 Revenue Outlook
April 28, 2020 7:33 AM EDT(Updated - April 28, 2020 7:34 AM EDT)
Turning Point Brands, Inc. (NYSE: TPB) reported Q1 EPS of $0.51, $0.20 better than the analyst estimate of $0.31. Revenue for the quarter came in at $90.7 million versus the consensus estimate of $83.7 million.
First Quarter 2020
(Comparisons vs. same period year-ago)
Net sales decreased 1.0% to $90.7 million;Gross profit increased 2.4% to $41.4 million;Net income decreased $3.3 million to $3.3 million, reflecting the inclusion of expensing PMTA costs incurred during the quarter;Adjusted EBITDA increased 10.6% to $17.8 million (see Schedule A for a reconciliation to net income);Diluted... More