Turning Point Brands Announces Third Quarter 2020 Results, Increases 2020 Guidance
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Turning Point Brands, Inc. (TPB) Tops Q3 EPS by 17c, Revenues Beat; Raises FY20 Revenue Guidance Above Consensus
October 27, 2020 7:32 AM EDTTurning Point Brands, Inc. (NYSE: TPB) reported Q3 EPS of $0.75, $0.17 better than the analyst estimate of $0.58. Revenue for the quarter came in at $104.2 million versus the consensus estimate of $91.86 million.
Third Quarter 2020
(Comparisons vs. same period year-ago)
Net sales increased 7.6% to $104.2 million;Gross profit increased 12.8% to $48.3 million;Net income increased $1.5 million to $7.8 million despite PMTA costs incurred during the current quarter;Adjusted EBITDA increased 27.4% to $23.9 million (see Schedule A for a reconciliation to net income);Diluted EPS of $0.40 and Adjusted Diluted EPS of $0.75 as compared... More