Active sky 16 tpb full#
The consolidation of Turning Point Brands Canada contributed $13.0 million during the full year period. rolling papers, cigar wraps and Canadian businesses. The segment’s gross margin contracted 490 basis points to 57.3 percent, driven primarily by the consolidation of Turning Point Brands Canada in the current quarterly period.įor the full year, net sales of Zig-Zag Products increased 32.9 percent to $176.5 million with double-digit advances in our U.S. For the fourth quarter, total Zig-Zag Products segment volume increased 12.2 percent, while price / mix increased 1.4 percent.įor the quarter, Zig-Zag Products segment gross profit increased 4.7 percent to $26.4 million. The cigar wraps business was up sequentially from the third quarter of 2021. This was partially offset by a double-digit decline in our cigar wraps business as the prior year period benefitted from the re-stocking of channel inventory that was depleted by a COVID-related manufacturing shutdown earlier in 2020. rolling papers and Canadian businesses, including consolidation of Turning Point Brands Canada (formerly ReCreation Marketing) which contributed $4.5 million in the Q4 period. Growth was led by double-digit advances in our U.S. Zig-Zag Products Segment (44 percent of total net sales in the quarter)įor the fourth quarter, net sales of Zig-Zag Products increased 13.6 percent to $46.1 million. Going forward, I am eager about the opportunity to work with a great organization, continue our momentum and invest further to deliver future organic and inorganic growth." Efremov continued, "Turning to capital deployment, we increased our share repurchase activity during the quarter and continue to maintain a strong balance sheet. Additionally, NewGen managed through a challenging quarter clouded by the evolving regulatory landscape while maintaining long-term upside potential in a post-PMTA environment." "Zig-Zag delivered another quarter of double-digit growth against a tough comparable period, while Stoker’s re-accelerated to high-single digit growth driven by mid-teens growth in the Moist Snuff Tobacco (MST) business. Sales for the fourth quarter finished above our previous guidance and in-line with the previous year despite a 22 percent decline in NewGen sales which fell within our previous guidance," said Yavor Efremov, President and Chief Executive Officer, Turning Point Brands. "Our fourth quarter results capped off another strong year of performance for Turning Point Brands with EBITDA growing 20 percent for the fiscal year. Net income increased 36.3 percent to $52.1 millionĪdjusted EBITDA increased 19.8 percent to $108.1 million (see Schedule A for a reconciliation to net income)ĭiluted EPS of $2.52 and Adjusted Diluted EPS of $3.03 as compared to $1.85 and $2.60 in the same period one year ago, respectively (see Schedule B for a reconciliation to Diluted EPS) Gross profit increased 14.7 percent to $217.8 million
Net sales increased 10.0 percent to $445.5 million Net income decreased 20.3 percent to $11.5 millionĪdjusted EBITDA decreased 7.6 percent to $23.8 million (see Schedule A for a reconciliation to net income)ĭiluted EPS of $0.57 and Adjusted Diluted EPS of $0.66 as compared to $0.68 and $0.77 in the same period one year ago, respectively (see Schedule B for a reconciliation to Diluted EPS) Gross profit decreased 3.8 percent to $50.3 million Net sales were comparable with Q4 2020 at $105.3 million despite a 22 percent decline in NewGen sales ("TPB" or "the Company") (NYSE: TPB), a manufacturer, marketer and distributor of branded consumer products, including alternative smoking accessories and consumables with active ingredients, announced today financial results for the fourth quarter and full year ended December 31, 2021. LOUISVILLE, Ky., February 22, 2022-( BUSINESS WIRE)- Turning Point Brands, Inc. FY 2021 Adjusted EBITDA Increased 19.8 Percent Year-Over-Year
FY 2021 Net Sales Increased 10.0 Percent Year-Over-Year
0 kommentar(er)
