Turning Point Brands published fourth-quarter earnings with an investor presentation on its website yesterday that saw a decrease from last year but exceeded analysts’ expectations. It posted adjusted earnings per share of $0.98, surpassing the consensus estimate of $0.70. Revenue came in at $93.7 million, below the $102.28 million analysts were expecting. Its $104.5 million adjusted EBITDA FY 2024 was a 12.0% increase from 2023.
For the fourth quarter, Turning Point saw net sales increase 12.8% YoY to $93.7 million, with an adjusted EBITDA of $26.2 million, up 5.3% over prior year. The Zig-Zag segment grew 1.8% while Stoker’s products jumped 25.8%. Turning Point Brands ended the quarter with $46.2 million in cash and $57.4 million available on its revolving credit facility.
“We were pleased with our fourth quarter and full year 2024 results and the momentum we are seeing across the organization,” said Graham Purdy, President and CEO.
Looking ahead, the company projects full-year 2025 adjusted EBITDA of $108 million to $113 million. It also expects combined Modern Oral sales of $60 million to $80 million.
The company’s shares were up 5.60% in premarket trading today following the release.
