Turning Point Brands Q1 2022 Net Income Decreased 6.7% To $11M YoY

Turning Point Brands, Inc. (NYSE: TPB) released financial results for the first quarter ended March 31, 2022.

Q1 2022 vs. Q1 2021

  • Net sales decreased 6.3% to $100.9 million

  • Gross profit decreased 2.8% to $51.8 million

  • Net income decreased 6.7% to $11.0 million

  • Adjusted EBITDA decreased 9.8% to $25.3 million

  • Diluted EPS of $0.55 and Adjusted Diluted EPS of $0.71 as compared to $0.57 and $0.80 in the same period one year ago, respectively

“Our first quarter results were in-line with our expectations as we continued to our market share for both Zig-Zag and Stoker’s while navigating a difficult consumer and regulatory environment to drive profitability in each of our segments, including NewGen. Sales decreased 6% from the previous year driven by a 37% decline in NewGen sales but showed double-digit growth excluding NewGen,” stated …

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