Zig-Zag Segment On Sustainable Growth Trajectory, Turning Point CEO Reports 7% YoY Improvement In Adjusted EBITDA, Raises 2024 Guidance
Portfolio Pulse from Jelena Martinovic
Turning Point Brands, Inc. (NYSE:TPB) reported a 7% YoY improvement in adjusted EBITDA for Q2 2024, raising its full-year guidance to $98-$102 million. The company saw a 2.8% increase in total net sales and significant growth in Zig-Zag and Stoker's product sales. TPB shares rose 1.92% following the announcement.
August 01, 2024 | 4:59 pm
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Turning Point Brands reported a 7% YoY improvement in adjusted EBITDA for Q2 2024 and raised its full-year guidance. The company saw a 2.8% increase in total net sales and significant growth in Zig-Zag and Stoker's product sales. TPB shares rose 1.92% following the announcement.
The positive financial results, including a 7% YoY improvement in adjusted EBITDA and raised full-year guidance, are likely to boost investor confidence. The significant growth in key product segments and the increase in net income further support a positive short-term impact on TPB's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100