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Turning Point Brands profit falls but beats target

turning-point-brands-profit-falls-but-beats-target

Turning Point Brands Inc. TPB, +8.73% said Wednesday its third-quarter earnings fell to $11.54 million, or 60 cents a share, from $13.47 million, or 65 cents a share, in the year-ago quarter. Breaking out one-time items, Turning Point Brands earned 72 cents a share. Net sales fell 1.9% to $107.8 million. Combined net sales for its Zig-Zag and Stoker’s products increased by 17.7%. Wall Street analysts expected Turning Point Brands to earn 49 cents a share on revenue of $103 million, according to FactSet data. Shares of Turning Point Brands are down 42.4% in 2022, compared to a 28.4% drop by the Nasdaq comp

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