Turning Point Brands, Inc. (TPB) Tops Q3 EPS by 17c, Revenues Beat; Raises FY20 Revenue Guidance Above Consensus
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Turning Point Brands Announces Third Quarter 2020 Results, Increases 2020 Guidance
October 27, 2020 7:30 AM EDTLOUISVILLE, Ky.--(BUSINESS WIRE)-- Turning Point Brands, Inc. (TPB) (NYSE: TPB), a manufacturer, marketer and distributor of branded consumer products with active ingredients, today announced financial results for the third quarter ended September 30, 2020.
Results at a Glance
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... More