Page 1

EX - 99.1 2 brhc10023703_ex99-1.htm EXHIBIT 99.1 TURNING POINT ™ TM BRANDS Turning Point Brands Announces First Quarter 2021 Results , Increases 2021 Guidance -Q1 2021 Net Sales Increased 18.7 % Year - Over - Year -Q1 2021 Adjusted EBITDA Increased 57.4 % Year - Over - Year First Quarter 2021 ( Comparisons vs. same period a year - ago ) LOUISVILLE , Ky . - ( April 27 , 2021 ) - Turning Point Brands , Inc. ( " TPB " or " the Company " ) ( NYSE : TPB ) , a manufacturer , marketer and distributor of branded consumer products including alternative smoking accessories and consumables with active ingredients , today announced financial results for the first quarter ended March 31 , 2021 . Net sales increased 18.7 % to $ 107.6 million ✔ Gross profit increased 28.6 % to $ 53.3 million ✔Net income increased $ 7.3 million to $ 11.8 million Exhibit 99.1 Adjusted EBITDA increased 57.4 % to $ 28.0 million ( see Schedule A for a reconciliation to net income ) Diluted EPS of $ 0.57 and Adjusted Diluted EPS of $ 0.80 as compared to $ 0.22 and $ 0.51 in the year - ago period , respectively ( see Schedule B for a reconciliation to Diluted EPS ) " Our first quarter results demonstrated solid execution with year - over - year growth significantly outpacing our end markets , " said Larry Wexler , President and CEO , Turning Point Brands . " Zig - Zag led the way with a second consecutive quarter with over 40 percent growth , and Stoker's delivered another double - digit growth quarter led by our MST business . As such , our core segments are continuing to perform well despite the tough comparables from the previous year period . NewGen had a solid growth quarter as it maintains optionality for long - term upside through its PMTA submissions . We are also excited about our recent investment in Docklight Brands , which increases our exposure in the cannabis space and boosts our portfolio through the addition of the MarleyTM CBD products line . "