Turning Point Brands, Inc. - TPB STOCK NEWS

Turning Point Brands, Inc. (NYSE: TPB) will hold a conference call to discuss its first quarter 2023 results on Wednesday, May 3, 2023, at 10:00 a.m. Eastern. Analysts and professional investors can participate via two call-in numbers: (888) 330-2502 for U.S. participants and (240) 789-2713 for international participants, using Event ID: 6640134. It's recommended to join the call at least 10 minutes early. Additionally, the call will be available as a live webcast through the investor relations section of the company's website. A replay will be accessible two hours post-call. Turning Point Brands markets products such as Zig-Zag® and Stoker’s® and has a presence in over 215,000 retail outlets across North America.

Turning Point Brands (TPB) reported FY 2022 financial results, with total net sales declining 6.8% to $415 million. Q4 2022 saw a 1.8% decrease in consolidated net sales to $103.4 million, influenced by an 11.1% drop in NewGen net sales. Combined Zig-Zag and Stoker’s Products net sales rose 1.6%. Gross profit decreased 5.6% to $205.5 million, while net income fell to $11.6 million, impacted by $41.1 million in non-cash asset impairments. The company aims for adjusted EBITDA of $88 to $94 million in 2023. CEO Graham Purdy emphasized a strategic shift towards organic growth initiatives.

The Board of Directors of Turning Point Brands (NYSE: TPB) has declared a quarterly dividend of $0.065 per common share, reflecting an 8% increase from November 2022. This dividend is payable on April 7, 2023, for shareholders of record on March 17, 2023. Turning Point Brands specializes in branded consumer products including alternative smoking accessories and consumables, with products available in over 215,000 retail locations across North America.

Turning Point Brands (NYSE: TPB) has scheduled a conference call for February 24, 2023, at 10:00 a.m. Eastern to discuss its fourth quarter and fiscal year 2022 results with investors. Analysts can participate via phone or listen to a live webcast through the company’s investor relations website. The call will offer insights into the company's performance, and a replay will be available shortly after.

Turning Point Brands is a manufacturer and marketer of alternative smoking products and accessories, with a presence in over 215,000 retail locations across North America.

Rithm Capital Corp. (NYSE:RITM) has appointed Peggy Hwan Hebard as an independent Board member, effective January 1, 2023. This strategic addition aims to bolster the Board's expertise in financial services and corporate advisory, enhancing Rithm's growth trajectory. Hebard’s extensive background includes roles at the Children's Museum of Manhattan and The Metropolitan Museum of Art. She brings valuable experience from the finance sector, signaling potential for improved strategic direction and shareholder value.

The Board of Directors of Turning Point Brands (TPB) declared a regular quarterly dividend of $0.06 per common share, payable on January 6, 2023, to shareholders of record as of December 16, 2022. This announcement highlights the company’s ongoing commitment to returning value to its shareholders while operating in the branded consumer products market, including alternative smoking accessories. TPB products are widely available across North America, reinforcing its strong market presence.

Turning Point Brands, Inc. (TPB) reported its Q3 2022 financial results, showing a 1.9% decrease in net sales to $107.8 million. The Zig-Zag and Stoker’s products drove a 17.7% increase in sales, while NewGen sales fell 40.3%. Gross profit declined 2.9% to $52.7 million, with net income down 14.3% to $11.5 million. Adjusted EBITDA also decreased 6.7% to $24.5 million. The company adjusted its full-year outlook, anticipating Zig-Zag sales between $186 million and $191 million.

Turning Point Brands (NYSE: TPB) appoints Graham Purdy as CEO effective October 16, 2022, following Yavor Efremov's resignation. Purdy, with nearly two decades at the company, aims to enhance brand value and shareholder returns. The company reports preliminary Q3 2022 net sales between $106 million and $108 million, and updated full-year revenue forecasts for Zig-Zag products down to $186-$191 million. The outlook for Stoker's products remains stable at $128-$132 million, while adjusted EBITDA is revised to $96-$99 million.