Turning Point Brands Provides Preliminary Financial Results and Announces Private Offering of Senior Secured Notes

Turning Point Brands, Inc. (NYSE: TPB) recently disclosed its anticipated financial outcomes for the fourth quarter and full year ended December 31, 2024. The company expects to finalize and release these results by no later than March 15, 2025. Alongside this, Turning Point Brands intends to proceed with a proposed private offering of senior secured notes. Here are the key details from the 8-K SEC Filing:

The estimated unaudited figures for the fourth quarter reveal total net sales ranging between $93.1 million and $94.1 million. Additionally, income before income taxes from continuing operations is estimated to be between $13.0 million and $14.0 million. Further, EBITDA and Adjusted EBITDA for the same period are anticipated to fall between $18.3 million to $19.3 million and $25.3 million to $26.3 million, respectively.

For the full year 2024, Turning Point Brands estimates total net sales to be within the range of $360.0 million to $361.0 million. The company’s income before income taxes from continuing operations is expected to range between $63.5 million and $64.5 million. Similarly, EBITDA and Adjusted EBITDA are projected to be between $83.2 million and $84.2 million and $103.5 million to $104.5 million, respectively.

As a result of the CDS segment’s contribution to General Wireless Operations, Inc., Turning Point Brands started accounting for the CDS segment’s operations and financial condition as discontinued operations in Q4 2024. This change will be reflected in all historical results starting from the Annual Report on Form 10-K for the year ended December 31, 2024.

These preliminary financial results are subject to completion and management’s final review. While the figures are considered indicative of the company’s performance, they are not substitutes for comprehensive financial statements prepared following U.S. GAAP standards. RSM US LLP has not yet conducted any auditing procedures on this data.

In a related development, Turning Point Brands also announced a proposed private offering of $300.0 million aggregate principal amount of senior secured notes due 2032. The proceeds from this offering are intended for various purposes, including redeeming or refinancing existing notes and for general corporate needs, subject to market conditions.

The company has outlined this as a strategic move to strengthen its financial position and ensure long-term growth. Investors and stakeholders will keenly await further updates on Turning Point Brands’ financial performance and the outcomes of the private offering.

For more details on Turning Point Brands’ financial activities, interested parties can refer to the complete 8-K filing on the SEC’s EDGAR database.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Turning Point Brands’s 8K filing here.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.