Published on 2 May 2024 on GuruFocus.com via Yahoo Finance
Turning Point Brands Inc. (TPB) Q1 2024 Earnings: Strong Performance with Significant Growth in ...
Q1 2024 Revenue: Reported at $97.06 million, surpassing estimates of $90.66 million.Q1 2024 Net Income: Reached $12.01 million, significantly surpassing the previous year's $7.60 million.Earnings Per Share (EPS): Achieved $0.63 diluted per share, falling short of the estimated $0.67.Adjusted EBITDA: Increased by 22% year-over-year to $25.3 million, demonstrating strong profitability and operational efficiency.Gross Margin: Improved in the Zig-Zag Products segment by 550 basis points to 59.0%, driven by favorable product mix.Stokers Products Revenue Growth: Grew by 8.0% to $36.4 million, with significant contributions from the Modern Oral product FRE.Full-Year 2024 Guidance: Reaffirmed adjusted EBITDA expectations of $95 to $100 million, indicating confidence in sustained financial performance.
Warning! GuruFocus has detected 7 Warning Signs with TPB.