Turning Point Brands, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2024
November 07, 2024 at 08:16 am EST
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Turning Point Brands, Inc. reported earnings results for the third quarter and nine months ended September 30, 2024. For the third quarter, the company reported sales was USD 104.82 million compared to USD 100.72 million a year ago. Sales was USD 104.82 million compared to USD 100.72 million a year ago. Net income was USD 12.38 million compared to USD 10.83 million a year ago. Net income was USD 12.38 million compared to USD 10.83 million a year ago. Basic earnings per share from continuing operations was USD 0.7 compared to USD 0.62 a year ago. Basic earnings per share from continuing operations was USD 0.7 compared to USD 0.62 a year ago. Diluted earnings per share from continuing operations was USD 0.68 compared to USD 0.58 a year ago. Diluted earnings per share from continuing operations was USD 0.68 compared to USD 0.58 a year ago.
For the nine months, sales was USD 308.89 million compared to USD 304.87 million a year ago. Net income was USD 37.39 million compared to USD 28.35 million a year ago. Basic earnings per share from continuing operations was USD 2.11 compared to USD 1.61 a year ago. Diluted earnings per share from continuing operations was USD 1.99 compared to USD 1.51 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.