Turning Point Brands Q2 FY23 Sales Grow 2.6% YoY, What About Income?
Portfolio Pulse from Vuk Zdinjak
Turning Point Brands, Inc. (NYSE:TPB) reported Q2 2023 financial results, with net sales increasing 2.6% YoY to $105.6 million. Gross profit rose 2.0% to $52.5 million, net income surged 83.0% to $9.9 million, and adjusted EBITDA grew 2.2% to $25.3 million. The company also raised its full-year 2023 adjusted EBITDA guidance to $90-$95 million, up from the previous outlook of $88-$94 million.
August 04, 2023 | 11:17 am
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Turning Point Brands reported strong Q2 2023 results with significant growth in net income and a raised full-year guidance, which could positively impact its stock.
The company's strong Q2 2023 results, including a significant increase in net income and a raised full-year guidance, are positive indicators for the company's performance and could lead to increased investor confidence, potentially driving the stock price up.
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