Turning Point Brands Announces Second Quarter 2020 Results, Increases 2020 Guidance
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Turning Point Brands, Inc. (TPB) Tops Q2 EPS by 26c, Revenues Beat; Raises FY20 Revenue Outlook Above Consensus, 3Q Revenue Mid-Point Guidance Below Consensus
July 28, 2020 7:34 AM EDTTurning Point Brands, Inc. (NYSE: TPB) reported Q2 EPS of $0.71, $0.26 better than the analyst estimate of $0.45. Revenue for the quarter came in at $105 million versus the consensus estimate of $95.44 million.
Second Quarter 2020
(Comparisons vs. same period year-ago)
Net sales increased 12.5% to $105.0 million;Gross profit increased 16.8% to $48.1 million;Net income decreased $4.0 million to $9.2 million, reflecting the inclusion of expensing PMTA costs incurred during the current quarter compared to the net gain related to a settlement from the V2 wind-down in the previous years quarter;Adjusted EBITDA... More