Turning Point Brands, Inc. (NYSE: TPB) released financial results for the second quarter ended June 30, 2022, revealing net sales decreased 16.1%, compared to Q2 2021 to $102.9 million.
Q2 2022 vs. Q2 2021
Gross profit decreased 14.2% to $51.5 million.
Net income decreased 64.7% to $5.4 million.
Adjusted EBITDA decreased 17.6% to $24.7 million.
Diluted EPS of $0.30 and adjusted Diluted EPS of $0.70 as compared to $0.73 and $0.84 in the same period one year ago, respectively.
“We are pleased with the stable performance of both the Zig-Zag and Stoker’s segments during the quarter in light of a heightened inflationary environment for our customers with rising prices at the pump impacting consumer traffic in convenience stores. While …