Turning Point Brands, Inc. reported robust second-quarter results, with Modern Oral net sales skyrocketing 651% Y-Y to $30.1 million, now making up 26% of total revenue. Total net sales rose 25.1% to $116.6 million, while net income increased 11.3% to $14.5 million. Adjusted EBITDA grew 14.8% to $30.5 million, and adjusted net income hit $18 million.
The Stoker’s segment, boosted by Modern Oral, posted a 62.9% sales increase, while Zig-Zag declined 6.9% due to product mix shifts. Despite that, the company increased its full-year 2025 Modern Oral sales forecast to $100–110 million, up from $80–95 million.
CEO Graham Purdy credited the strong results to aggressive growth in Modern Oral and resilience in legacy brands. “Our consolidated second quarter results were better than expected,” he said.
TPB ended the quarter with $190.1 million in net debt and $176.4 million in liquidity. The company also raised its 2025 Adjusted EBITDA guidance to $110–114 million.
A replay of the earnings call can be found at turningpointbrands.com.
The company also declared a regular quarterly dividend of $0.075 per common share. The dividend is payable October 10, to shareholders of record on the close of business on September 19.
