Zig-Zag Segment On Sustainable Growth Trajectory, Turning Point CEO Reports 7% YoY Improvement In Adjusted EBITDA, Raises 2024 Guidance
Turning Point Brands, Inc. (NYSE:TPB), a maker of branded consumer products, including alternative smoking accessories and consumables with active ingredients, reported its financial results on Thursday for the second quarter ended June 30, 2024.
Adjusted EBITDA for the quarter came in positive at $27 million, representing a year-over-year improvement of 7%. That said, Turning Point has increased its full-year 2024 adjusted EBITDA guidance to $98 to $102 million.
“We were pleased by our second quarter results,” Graham Purdy, president and CEO said. “We achieved our highest quarterly EBITDA since the second quarter of 2021.”
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