Turning Point Brands, Inc. (TPB) Tops Q2 EPS by 26c, Revenues Beat; Raises FY20 Revenue Outlook Above Consensus, 3Q Revenue Mid-Point Guidance Below Consensus

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Go back to Turning Point Brands, Inc. (TPB) Tops Q2 EPS by 26c, Revenues Beat; Raises FY20 Revenue Outlook Above Consensus, 3Q Revenue Mid-Point Guidance Below Consensus

Turning Point Brands Announces Second Quarter 2020 Results, Increases 2020 Guidance

July 28, 2020 7:30 AM EDT

LOUISVILLE, Ky.--(BUSINESS WIRE)-- Turning Point Brands, Inc. (TPB) (NYSE: TPB), a leading provider of Other Tobacco Products (OTP) and adult consumer alternatives, today announced financial results for the second quarter ended June 30, 2020.

Results at a Glance

Second Quarter 2020

(Comparisons vs. same period year-ago)

Net sales increased 12.5% to $105.0 million; Gross profit increased 16.8% to $48.1 million; Net income decreased $4.0 million to $9.2 million, reflecting the inclusion of expensing PMTA costs incurred during the current quarter compared to the net gain related to a settlement from the... More