- Turning Point Brands ( NYSE: TPB ) expects Q3 net sales in the range of $106M-$108M vs. consensus estimate of $105.88M.
- Net income is projected between $10.5M and $12M, while adjusted EBITDA is seen between $23.5M and $25M.
- The consumer products company also revised its full-year 2022 outlook, now expecting Zig-Zag Products sales of $186M-$191M (compared to previous outlook of $193M-$200M) and Stoker's Products sales of $128M-$132M (compared to previous outlook of $127M-$133M). Full year adjusted EBITDA is projected at $96M-$99M (compared to previous outlook of $97M-$103M).
- Furthermore, Turning Point Brands ( TPB ) has named Graham Purdy as CEO and board director, effective as of October 16, 2022. Purdy, previously chief operating officer at TPB, succeeds Yavor Efremov, who resigned as CEO and director.
- TPB shares are down ~1% premarket
For further details see:
Turning Point Brands guides Q3 sales above consensus, revises full-year outlook