Turning Point Brands, Inc. - TPB STOCK NEWS

Turning Point Brands, Inc. (NYSE: TPB) has scheduled a conference call for Tuesday, October 26, 2021, at 10:00 a.m. Eastern Time to discuss its third quarter 2021 results with investors and analysts. Participants can join via a toll-free U.S. number, (888) 660-6731, or an international line at (929) 203-1976, using Event ID: 6640134. The call will also be available as a live webcast on the company’s investor relations webpage, with a replay accessible two hours after the call concludes. For more details, visit Turning Point Brands Investor Relations.

Turning Point Brands (NYSE: TPB) announced that the FDA has rescinded its Marketing Denial Order for certain vapor products pending PMTAs. This decision allows TPB to continue marketing its proprietary vapor products, including Solace™ e-liquids, while under review. The FDA noted that additional relevant information was discovered that requires further evaluation. CEO Larry Wexler expressed optimism about the agency’s reconsideration and emphasized the importance of a transparent PMTA process. This development is crucial for TPB as it strives to maintain its market presence and support adult smokers transitioning to less harmful alternatives.

Turning Point Brands, Inc. (TPB) announced on September 14 that the FDA issued a Marketing Denial Order for certain vapor products following the company's Premarket Tobacco Product Application. TPB maintains that its high-quality PMTA demonstrated the products' safety and public health benefits. The company plans to appeal the FDA's decision and engage in further discussions with the agency. TPB highlights that their products help adult smokers transition from combustible cigarettes, aligning with public health objectives.

Turning Point Brands (TPB) has increased its equity stake in ReCreation Marketing from 50% to 65%, completed on July 30, 2021. ReCreation Marketing, a Canadian distribution firm specializing in smoking accessories and vaping products, will rebrand as Turning Point Brands Canada Corporation in 90 days. This move is aimed at enhancing TPB's market presence in Canada, particularly leveraging the strong distribution network for Zig-Zag papers, which now reaches 75% of the private dispensary channel. CEO Larry Wexler emphasized the strategic importance of this stake increase.

The Board of Directors of Turning Point Brands, Inc. (TPB) declared a quarterly dividend of $0.055 per common share, payable on October 8, 2021, to shareholders of record by September 17, 2021. TPB is known for its branded consumer products, including alternative smoking accessories and consumables, with offerings like Zig-Zag® and Stoker’s®. The company serves over 210,000 retail outlets across North America.

Turning Point Brands (TPB) reported robust financial results for Q2 2021, with net sales rising 16.8% to $122.6 million and gross profit increasing 25.1% to $60 million. Net income surged 49.2% to $15.4 million, with diluted EPS at $0.73. The Zig-Zag segment saw exceptional growth of 72.3%, driven by strategic initiatives and recovery from prior COVID disruptions. The company also announced an investment in Old Pal and the acquisition of Unitabac assets, positioning for increased market presence in cannabis and cigars.

Turning Point Brands, Inc. (TPB) has acquired certain cigar assets from Unitabac, LLC, enhancing its portfolio in the booming cigar market. The acquisition includes several cigarillo brands such as Trivo and Cloud9, which are compliant with FDA regulations. CEO Larry Wexler highlighted that this move positions TPB to leverage its Zig-Zag brand and extensive distribution to tap into the growing demand driven by cannabis legalization. This strategic acquisition is expected to strengthen TPB's competitive edge and expand its market presence.

Turning Point Brands (TPB) has acquired specific cigar assets from Unitabac, enhancing its product portfolio in the booming cigarillo market. The acquisition includes a range of Cigarillo products and intellectual property, expected to bolster TPB's competitive positioning as the cigarillo market expands, driven by cannabis legalization trends. CEO Larry Wexler expressed optimism about leveraging existing brand strength and distribution networks to enhance market penetration. The deal includes brands such as Trivo, Hype, Cloud9, and Badlands.

Turning Point Brands (TPB) has announced an $8 million strategic investment in Old Pal Holding Company, a popular cannabis lifestyle brand. The investment, made through a convertible note, will enable Old Pal to enhance its product offerings and expand its market presence in seven U.S. states. TPB's CEO highlighted Old Pal's strong brand recognition and favorable market position, which positions both companies to capitalize on the growing cannabis industry.