Turning Point Brands, Inc.

Listed Company

TPBCIK 0001290677NYSELarge AcceleratedTobacco ProductsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$58.16M

Total Assets

$763.75M

Equity

$371.98M

Shares Out

19.14M

Op. Cash Flow

$57.37M

Business

Turning Point Brands, Inc. is a manufacturer, marketer and distributor of branded consumer products in the alternative smoking accessories and other tobacco products (OTP) industries. It offers Zig-Zag rolling papers, tubes, injectors, finished cigars and make-your-own (MYO) wraps, and Stoker’s moist snuff, loose-leaf chewing tobacco and modern oral nicotine pouches (FRE), along with marketing, packaging and distribution services. Its operations are organized into two reportable segments: Zig-Zag Products and Stoker’s Products. The company sells across North America through wholesale distributors, convenience and mass retail channels, non-traditional outlets such as headshops and dispensaries, and growing e-commerce platforms.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	463	361	325	321	445
Cost of sales	199	159	142	143	228
Gross profit	264	202	183	178	218
Selling, general, and administrative expenses	169	122	104	104	128
Other operating income	0	−2	−4	0	0
Operating income	95	81	83	74	90
Other income, net	−7	0	−4	0	0
Interest expense, net	17	14	15	20	21
Investment (gain) loss	−1	2	10	13	7
Loss (gain) from equity method investments	1	−75,000	2	—	—
Loss (gain) on extinguishment of debt	1	0	−2	−885,000	−2
Income from continuing operations before income taxes	83	65	62	42	65
Income tax expense	15	17	24	11	14
Income from continuing operations	68	48	38	31	—
Loss from discontinued operations, net of tax	0	−8	−285,000	−20	—
Consolidated net income	68	41	38	11	51
Net income (loss) attributable to non-controlling interest	10	701,000	−681,000	−484,000	−797,000
Net income attributable to Turning Point Brands, Inc.	58	40	38	12	52
Continuing operations (in dollars per share)	3.18	2.67	2.2	1.76	—
Discontinued operations (in dollars per share)	0	−0.43	−0.01	−1.11	—
Basic earnings per share (in dollars per share)	3.18	2.24	2.19	0.65	2.75
Continuing operations (in dollars per share)	3.11	2.53	2.02	1.75	—
Discontinued operations (in dollars per share)	0	−0.39	−0.01	−1.11	—
Diluted earnings per share (in dollars per share)	3.11	2.14	2.01	0.64	2.52
Basic (in shares)	18	18	18	18	19
Diluted (in shares)	19	19	20	18	22

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	223	46	117	—	—
Accounts receivable	26	10	10	8	6
Inventories, net	108	96	92	120	88
Current assets held for sale	0	11	12	—	—
Other current assets	61	35	37	23	27
Total current assets	417	198	268	258	249
Property, plant, and equipment, net	36	26	25	23	19
Deferred income tax assets, net	0	995,000	1	8	1
Operating and Finance Lease, Right-of-Use Asset	14	12	11	12	15
Deferred financing costs, net	1	2	2	—	—
Goodwill	136	136	136	136	162
Other intangible assets, net	64	65	66	84	87
Master Settlement Agreement (MSA) escrow deposits	30	29	29	—	—
Noncurrent assets held for sale	0	4	15	—	—
Other assets	65	21	15	23	35
Total assets	764	493	569	572	602
Accounts payable	20	12	8	8	7
Accrued Liabilities, Current	55	31	32	33	33
Current liabilities held for sale	0	2	2	—	—
Total current liabilities	75	45	100	41	40
Deferred income tax liabilities, net	8	0	—	—	—
Notes payable and long-term debt	294	249	307	407	414
Other long-term liabilities	4	0	—	—	0
Operating and Finance Lease, Liability, Noncurrent	11	10	10	11	13
Total liabilities	392	303	417	459	468
Commitments and contingencies	—	—	—	—	—
Preferred Stock	0	0	0	0	0
Additional paid-in capital	204	127	119	113	109
Cost of repurchased common stock	−48	−83	−78	−78	−49
Accumulated other comprehensive loss	−2	−3	−3	−2	−195,000
Accumulated earnings	200	147	112	79	71
Non-controlling interest	18	2	1	2	2
Total stockholders equity	372	190	152	113	134
Total liabilities and stockholders equity	764	493	569	572	602

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loss on sale of property, plant, and equipment	106,000	75,000	62,000	−33,000	−54,000
Gain on insurance recovery of inventory loss	0	0	−15	0	—
(Gain) Loss on investments	−484,000	3	10	14	—
Depreciation and other amortization expense	6	4	3	3	—
Amortization of other intangible assets	1	1	1	524,000	2
Amortization of deferred financing costs	2	2	2	3	3
Deferred income tax expense	9	519,000	7	−7	−1
Stock compensation expense	7	7	7	5	8
Noncash lease income	−2	−622,000	−72,000	84,000	—
Gain on MSA investments	0	−14,000	0	−54,000	7
Accounts receivable	−16	185,000	−3	−3	3
Inventories	−12	−5	13	−27	−9,000
Other current assets	−25	−1	−4	−379,000	−134,000
Other assets	−5	−2	−5	420,000	996,000
Accounts payable	9	4	100,000	2	−2
Accrued liabilities and other	13	−1	601,000	1	−3
Operating cash flows from continuing operations	57	61	56	21	—
Operating cash flows from discontinued operations	0	6	11	9	—
Net cash provided by operating activities	57	67	67	30	68
Capital expenditures	−14	−5	−6	−8	−6
Purchases of investments	−14	−11	−202,000	−1	—
Proceeds from sale of investments	6	5	0	0	—
Purchase of options agreement	−8	0	0	—	—
Purchases of non-marketable equity investments	−3	−500,000	0	0	−17
Proceeds on sale of property, plant and equipment	0	5,000	3,000	35,000	—
MSA escrow deposits, net	33,000	46,000	0	−10	—
Investing cash flows from continuing operations	−32	−11	−6	−19	—
Investing cash flows from discontinued operations	0	0	0	176,000	—
Net cash used in investing activities	−32	−11	−6	−19	−59
Convertible Senior Notes repurchased	0	−119	−42	−9	—
Payment of 2026 Senior Notes	−250	0	0	0	0
Proceeds from 2032 Notes	300	0	0	—	0
At the market offering proceeds	97	0	0	—	—
Interchange subscription agreement	11	0	0	—	—
Proceeds from call options	0	0	114,000	51,000	0
Payment of dividends	−6	−5	−5	−4	−4
Payments of financing costs	−7	−133,000	−2	0	−7
Exercise of options	8	3	450,000	504,000	2
Redemption of options	−33,000	−335,000	−346,000	−155,000	−2
Redemption of restricted stock units	−2	−914,000	−995,000	−1	0
Issuance of restricted stock units	1,000	0	0	—	—
Redemption of performance based restricted stock units	−3	−1	0	0	—
Issuance of performance based restricted stock units	0	0	0	—	—
Common stock repurchased	0	−5	0	−29	−39
Financing cash flows from continuing operations	148	−128	−50	−43	—
Financing cash flows from discontinued operations	0	0	0	0	—
Net cash provided by (used in) financing activities	148	−128	−50	−43	57
Net increase (decrease) in cash	174	−72	11	−32	66
Effect of foreign currency translation on cash	−205,000	−182,000	13,000	−320,000	191,000
Cash paid during the period for interest	20	17	18	19	13
Cash paid during the period for income taxes, net	10	21	12	13	16
Accrued capital expenditures	0	18,000	8,000	11,000	0
Accrued consideration for acquisition of investments	0	0	248,000	0	0

Filings

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