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Tag: Graham Purdy

  • Turning Point Appoints Glazek as New CEO

    Turning Point Appoints Glazek as New CEO

    Turning Point Brands announced the appointment of David E. Glazek as CEO, effective Oct. 1. Glazek, who currently serves as Executive Chairman, will succeed Graham Purdy, who is stepping down as CEO for personal reasons and will be assisting with the transition of his responsibilities.

    TPB reaffirmed its full-year 2026 Modern Oral gross sales guidance of $330 million to $350 million and net sales guidance of $260 million to $270 million. The company narrowed its full-year EBITDA guidance to $70 million to $80 million, from $70 million to $90 million, citing the assumption that onshoring manufacturing will provide no margin benefit until 2027, along with prolonged higher freight costs.

  • Turning Point Reports Record Q3 2025

    Turning Point Reports Record Q3 2025

    Turning Point Brands, Inc. reported Q3 2025 net sales up 31.2% year-over-year to $119 million, driven by strong performance in its Modern Oral segment, which surged 627.6% to $36.7 million, now representing 31% of total sales. Adjusted EBITDA rose 17.2% to $31.3 million, and net income jumped 70.3% to $21.1 million. The company raised its 2025 Adjusted EBITDA outlook to $115–120 million (from $110–114 million) and increased Modern Oral sales guidance to $125–130 million (from $100–110 million).

    CEO Graham Purdy said the results “exceeded expectations,” highlighting the strong growth of Modern Oral products and progress toward qualifying U.S. white pouch production lines by early 2026. The Stoker’s segment grew 80.8% to $74.8 million, while the Zig-Zag segment declined 10.5% to $44.2 million. TPB ended the quarter with $201 million in cash and $267.8 million in total liquidity.

  • Modern Oral Sales Surge 651% in Turning Point’s Strong Q2 Report

    Modern Oral Sales Surge 651% in Turning Point’s Strong Q2 Report

    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.

  • Turning Point Announces 1Q YoY Increase of 28.1%

    Turning Point Announces 1Q YoY Increase of 28.1%

    Turning Point Brands, Inc. today (May 7) announced financial results for the first quarter ended March 31, with net sales increasing 28.1% YoY to $106.4 million.

    “We are pleased with our first quarter results,” said Graham Purdy, President and CEO. “Modern Oral sales were $22.3 million, up nearly 10 times versus the prior year and nearly double the prior quarter. MST and looseleaf exceeded our expectations, and Zig-Zag was in line with our expectations.”

    The announcement included a Q1 2025 Adjusted EBITDA of $27.7 million, up 12.0% over the prior year, and a reaffirmation of previously announced 2025 Adjusted EBITDA guidance of $108 million to $113 million; increasing full-year consolidated nicotine pouch sales guidance to a range of $80 million to $95 million, from $60 million to $80 million.

    The company said Stoker’s Products net sales increased 62.7%; Zig-Zag Products net sales increased 1.2%; and gross profit increased 23.3% to $59.6 million.