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Stock impact report

Turning Point Brands Announces First Quarter 2020 Results

Turning Point Brands, Inc. (TPB) 
Last turning point brands, inc. earnings: 4/28 07:30 am Check Earnings Report
Company Research Source: Business Wire
LOUISVILLE, 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 GlanceFirst 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 reconciliation to net income);Diluted EPS of $0.16 and Adjusted Diluted EPS of $0.51 as compared to $0.33 and $0.43 in the year-ago period, respectively (see Schedule C for a reconciliation to Diluted EPS);“Our results this quarter reflect the robust demand for our products even during challenging times. Sales performance was driven by mid-teens growth in our core Smokeless and Smoking segmen Show less Read more
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