Turning Point Brands, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2024
August 01, 2024 at 09:10 am EDT
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Turning Point Brands, Inc. reported earnings results for the second quarter and six months ended June 30, 2024. For the second quarter, the company reported sales was USD 107.71 million compared to USD 104.4 million a year ago. Sales was USD 107.71 million compared to USD 104.4 million a year ago. Sales was USD 107.71 million compared to USD 104.4 million a year ago. Sales was USD 107.71 million compared to USD 104.4 million a year ago. Net income was USD 13 million compared to USD 9.93 million a year ago. Net income was USD 13 million compared to USD 9.93 million a year ago. Net income was USD 13 million compared to USD 9.93 million a year ago. Net income was USD 13 million compared to USD 9.93 million a year ago. Basic earnings per share from continuing operations was USD 0.74 compared to USD 0.56 a year ago. Basic earnings per share from continuing operations was USD 0.74 compared to USD 0.56 a year ago. Basic earnings per share from continuing operations was USD 0.74 compared to USD 0.56 a year ago. Basic earnings per share from continuing operations was USD 0.74 compared to USD 0.56 a year ago. Diluted earnings per share from continuing operations was USD 0.68 compared to USD 0.53 a year ago. Diluted earnings per share from continuing operations was USD 0.68 compared to USD 0.53 a year ago. Diluted earnings per share from continuing operations was USD 0.68 compared to USD 0.53 a year ago. Diluted earnings per share from continuing operations was USD 0.68 compared to USD 0.53 a year ago.
For the six months, sales was USD 204.07 million compared to USD 204.15 million a year ago. Net income was USD 25.01 million compared to USD 17.52 million a year ago. Basic earnings per share from continuing operations was USD 1.42 compared to USD 1 a year ago. Diluted earnings per share from continuing operations was USD 1.31 compared to USD 0.94 a year ago.
Turning Point Brands, Inc. is a manufacturer, marketer and distributor of branded consumer products. It sells a range of products to adult consumers consisting of staple products under the brands Zig-Zag and Stokerâs. Its segments include Zig-Zag Products (Zig-Zag), Stokerâs Products (Stokerâs) and Creative Distribution Solutions. Zig-Zag principally market and distribute rolling papers, tubes, and related products; finished cigars and make-your-own cigar wraps, and CLIPPER reusable lighters and other accessories. Stokerâs manufactures and markets moist snuff tobacco (MST) and contract for and market loose leaf chewing tobacco products. Creative Distribution Solutions segment markets and distributes liquid nicotine products and certain other products without tobacco and/or nicotine; distributes an assortment of products to non-traditional retail outlets via Vapor Beast, and markets and distributes an assortment of products to individual consumers via the VaporFi B2C online platform.