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● LOUISVILLE , Ky . - October 26 , 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 , announced today financial results for the third quarter ended September 30 , 2021 . Q3 2021 vs. Q3 2020 ● TURNING POINT ™ BRANDS Turning Point Brands Announces Third Quarter 2021 Results ; Updates 2021 Guidance and Increases Share Repurchase Authorization ● -Q3 2021 Net Sales Increased 5.5 Percent Year - Over - Year -Q3 2021 Adjusted EBITDA Increased 9.9 Percent Year - Over - Year Net sales increased 5.5 percent to $ 109.9 million Gross profit increased 12.3 percent to $ 54.3 million Net income increased 49.3 percent to $ 13.4 million Adjusted EBITDA increased 9.9 percent to $ 26.3 million ( see Schedule A for a reconciliation to net income ) Diluted EPS of $ 0.65 and Adjusted Diluted EPS of $ 0.72 as compared to $ 0.44 and $ 0.69 in the same period one year ago , respectively ( see Schedule B for a reconciliation to Diluted EPS ) " Our third quarter performance fell within our expectations with sales growth of 11 % in our core business despite facing the headwind of COVID - related consumption and other benefits we experienced in the prior year period , " said Larry Wexler , President and CEO , Turning Point Brands . " Zig - Zag had another robust quarter driven by our strategic initiatives and growth within our Canadian business . Stoker's saw double - digit growth in our Moist Snuff Tobacco ( MST ) business which drove growth in the overall segment . Regarding capital deployment , we continued to repurchase our shares during the quarter and today announced an increased share repurchase authorization . We also maintain a strong balance sheet to pursue a healthy pipeline of investment opportunities . Overall , we remain optimistic about the growth prospects in our core business . " Mr. Wexler continued , " NewGen managed through a disruptive environment due to the uncertainty surrounding the PMTA process . We are encouraged by the FDA's decision to reconsider and place back into review our application for our proprietary vapor products . I am confident that we submitted a robust application and look forward to