Turning Point Brands is a consumer goods company that specializes in the development, marketing, and distribution of innovative products in the tobacco and nicotine industry
The company offers a wide range of goods, including smokeless tobacco products, vapor products, and various ancillary items. With a focus on both traditional and emerging tobacco products, Turning Point Brands aims to cater to the evolving preferences of consumers while promoting responsible usage and compliance within the regulatory landscape. Through its diverse portfolio, the company seeks to establish a strong presence in the competitive market and drive growth through product innovation and strategic partnerships.
Turning Point Brands announced on Thursday financial results for the third quarter ended Sept. 30, 2024. The company behind Zig-Zag, a brand of rolling papers in the cannabis industry, said total consolidated net sales increased 3.8% YoY. Zig-Zag products' net sales, which accounted for 47% of total net sales in the quarter, increased 5.5% over the same period.
Turning Point Brands, Inc. (NYSETPB), a maker of branded consumer products, including alternative smoking accessories and consumables with active ingredients, announced on Thursday financial results for the second quarter ended June 30, 2024. The company said adjusted EBITDA for the quarter came in positive at $27 million, representing a year-over-year improvement of 7%. That said, Turning Point has increased its full-year 2024 adjusted EBITDA guidance to $98 to $102 million. "We were pleased by our second quarter results," Graham Purdy, president and CEO, said. "We achieved our highest quarterly EBITDA since the second quarter of 2021."
Maker of Zig-Zag rolling papers Turning Point Brands announced on Wednesday financial results for the fourth quarter and full year ended Dec. 31, 2023.Graham Purdy, president and CEO, praised quarterly results. "Our fourth quarter results were at the high end of our expectations," Purdy said. "The Zig-Zag segment was stable from the previous year excluding the impact of a discontinued product line and is well positioned to return to growth in 2024. We also had strong free cash flow generation during the year allowing us to build a cash balance to address the remaining principal amount of our convertible notes at maturity in July."
As of Jan. 3, 2024, three stocks in the consumer staples sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
