UPDATE: Turning Point Brands, Inc. (TPB) Tops Q1 EPS by 20c, Revenues Beat; Offers 2Q & FY20 Revenue Outlook
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Turning Point Brands Announces First Quarter 2020 Results
April 28, 2020 7:30 AM EDTLOUISVILLE, Ky.--(BUSINESS WIRE)-- Turning Point Brands (TPB) (NYSE: TPB), a leading provider of Other Tobacco Products (OTP) and adult consumer alternatives, today announced financial results for the first quarter ended March 31, 2020.
Results at a Glance
First Quarter 2020
(Comparisons vs. same period year-ago)
Net sales decreased 1.0% to $90.7 million; Gross profit increased 2.4% to $41.4 million; Net income decreased $3.3 million to $3.3 million, reflecting the inclusion of expensing PMTA costs incurred during the quarter; Adjusted EBITDA increased 10.6% to $17.8 million (see Schedule A for a... More