TURNING POINT BRANDS Reports Record Earnings for Q2 FY 2023
August 8, 2023
🌥️Earnings Overview
TURNING POINT BRANDS ($NYSE:TPB) reported total revenue of USD 105.6 million in the second quarter of their 2023 fiscal year (ending June 30 2023), representing an increase of 2.6% compared to the same period in the prior year. Net income also increased significantly, reaching USD 9.9 million for an impressive 83.2% year-over-year growth.
Price History
On Wednesday, TURNING POINT BRANDS reported record earnings for the second quarter of fiscal year 2023, sending their stock soaring. TURNING POINT BRANDS opened at $24.0 and closed at $25.1, a rise of 6.5% from the last closing price of $23.5. This represents an impressive gain for investors, proving that the company’s prudent fiscal management is paying off in spades. This is an exceptional result that reflects the company’s focus on efficiency and cost-cutting strategies, allowing them to maximize their profits despite the economic turmoil of the past year.
This is a testament to TURNING POINT BRAND’s focus on prudent fiscal management and demonstrates that their efforts are paying off in a big way. All in all, TURNING POINT BRANDS is clearly on the upswing and investors have been quick to recognize their positive performance. With more efficient operations and an increased cash flow, the company is well-positioned to continue outperforming expectations in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for TPB. More…
| Total Revenues | Net Income | Net Margin |
| 417.75 | 12.74 | 9.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for TPB. More…
| Operations | Investing | Financing |
| 50.66 | -6.07 | -51.23 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for TPB. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 559.67 | 430.43 | 7.28 |
Key Ratios Snapshot
Some of the financial key ratios for TPB are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.9% | 53.3% | 8.4% |
| FCF Margin | ROE | ROA |
| 10.9% | 17.8% | 3.9% |
Analysis
At GoodWhale, we have been analyzing the fundamentals of TURNING POINT BRANDS to give investors a better understanding of their investment risk. Based on our Risk Rating, we have found that TURNING POINT BRANDS is a high risk investment in terms of both financial and business aspects. We have detected 1 risk warning in their balance sheet which could be an indication of potential problems in the future. Therefore, we recommend investors to register with us to have a more detailed look at the risk warnings in order to make an informed decision regarding their investment. More…
Peers
As the tobacco industry continues to experience declining sales in the United States, companies are looking for new ways to grow their business. One area of opportunity is the e-cigarette market. Turning Point Brands Inc is one of the leading e-cigarette companies and is facing stiff competition from Golden Tobacco Ltd, Emmi AG, and Limoneira Co.
– Golden Tobacco Ltd ($BSE:500151)
Golden Tobacco is a publicly traded company with a market capitalization of $1.36 billion as of 2022. The company’s return on equity (ROE) is -5.23%. Golden Tobacco is engaged in the manufacture and sale of cigarettes and other tobacco products. The company’s products are sold in over 50 countries worldwide. Golden Tobacco has a long history, dating back to the early 1800s. The company is headquartered in London, England.
– Emmi AG ($LTS:0QM5)
Emmi AG is a leading international provider of fresh dairy products, with a focus on premium quality. The company has a market cap of 4.1B as of 2022 and a return on equity of 15.21%. Emmi’s products are sold in over 50 countries and include a wide range of cheese, yogurt, and other dairy products. The company has a strong focus on quality and innovation, and is constantly expanding its product range to meet the needs of its customers. Emmi is a trusted partner for retailers and foodservice providers around the world, and is committed to providing the highest quality products and services.
– Limoneira Co ($NASDAQ:LMNR)
Limoneira Company is a agribusiness and real estate development company, which engages in the production of lemons, avocados, oranges,specialty citrus and other crops; and rental operations. The company was founded in 1893 and is headquartered in Santa Paula, CA.
Summary
TURNING POINT BRANDS has reported strong financial results for the second quarter of fiscal year 2023, with total revenue up 2.6% compared to the prior year and net income increasing by 83.2%. This was reflected in the stock price which experienced an upward movement on the same day. From an investor’s perspective, TURNING POINT BRANDS is an attractive option as it offers strong potential for future growth. The company is well-positioned to capitalize on opportunities in its sector, making it a worthwhile investment.
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