Turning Point Brands, Inc. · NYSE:TPB
Turning Point Brands — Q1 2022 Earnings Presentation
11 slides from Turning Point Brands's earnings presentation, Apr 27, 2022
Slide 1: Q1 2022 Results
Turning Point Brands (NYSE: TPB) Q1 2022 Results April 27, 2022 | NYSE: TPB | 5201 INTERCHANGE WAY, LOUISVILLE KY | TURNINGPOINTBRANDS.COM |
Slide 2: Disclaimer
Disclaimer Turning Point Brands (NYSE: TPB) FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may generally be identified by the use of words such as "anticipate," "believe," "expect," "inten
Slide 3: TPB Business Segments
Turning Point Brands (NYSE: TPB) TPB Business Segments Zig-Zag Products Stoker’s Products NewGen Products Rolling papers and Make-Your-Own Loose leaf chewing tobacco and moist Innovative vapor products (“MYO”) cigar wraps snuff tobacco LTM Sales1 $181mm $127mm $131mm Key Brands Continue strong gro
Slide 4: Consolidated Results
Turning Point Brands (NYSE: TPB) Consolidated Results Q1 2022 Commentary NewGen Products 2% ($ in millions) Q1 21 Q1 22 YoY NewGen Q1 2022 Sales $107.6 $100.9 -6% Products Q1 2022 Zig-Zag Operating Zig-Zag Stoker's 23% Adj Gross Profit $53.3 $51.8 -3% Products Income Products Products Sales Mix: Sto
Slide 5: Zig-Zag Products
Turning Point Brands (NYSE: TPB) Zig-Zag Products Q1 2022 Commentary ($ in millions) Q1 21 Q1 22 YoY Wraps $18.2 $17.7 -3% US Papers & E-Commerce 14.2 20.0 41% Canada 6.9 6.0 -13% Cigars and Other 1.7 2.0 17% Total Sales $41.0 $45.7 11% Gross Profit $24.9 $26.3 6% Margin 60.7% 57.7% Operating Income
Slide 6: Stoker's Products Q1 2022 Commentary
Turning Point Brands (NYSE: TPB) Stoker’s Products Q1 2022 Commentary ($ in millions) Q1 21 Q1 22 YoY MST $18.4 $20.5 11% Looseleaf 10.9 10.5 -4% FRE 0.7 Total Sales $29.3 $31.7 8% Gross Profit $15.9 $17.7 11% Margin 54.3% 55.8% Operating Income $12.3 $13.5 10% Margin 41.9% 42.6% ▪ 8% sales growth i
Slide 7: NewGen Products
Turning Point Brands (NYSE: TPB) NewGen Products Q1 2022 Commentary ($ in millions) Q1 21 Q1 22 YoY Sales $37.4 $23.5 -37% Adj Gross Profit $12.5 $7.8 -38% Margin 33.4% 33.0% Adj Operating Income $2.0 $0.7 Margin 5.4% 2.9% ▪ Continued regulatory disruption led to -37% sales decline ▪ Adj Gross Margi
Slide 8: Balance Sheet and Liquidity
Turning Point Brands (NYSE: TPB) Balance Sheet and Liquidity ($ in millions) FY 2021 Q1 22 5.625% Senior Secured Due 2/26 250.0 250.0 2.5% Convertible Note Due 7/24 172.5 172.5 Gross Debt $422.5 $422.5 Cash 128.3 126.0 Net Debt $294.2 $296.5 LTM Adj EBITDA $108.1 $105.0 Net Leverage 2.7x 2.8x ▪ Ende
Slide 9: Thank You
Turning Point Brands (NYSE: TPB) THANK YOU | NYSE: TPB | 5201 INTERCHANGE WAY, LOUISVILLE KY | TURNINGPOINTBRANDS.COM |
Slide 10: Appendix
Turning Point Brands (NYSE: TPB) Appendix | NYSE: TPB | 5201 INTERCHANGE WAY, LOUISVILLE KY | TURNINGPOINTBRANDS.COM |
Slide 11: EBITDA Adjustment Detail
Turning Point Brands (NYSE: TPB) EBITDA Adjustment Detail Turning Point Brands, Inc. Reconciliation of GAAP Net Income to Adjusted EBITDA (dollars in thousands) (unaudited) Three Months Ended March 31, 2022 2021 Net income attributable to Turning Point Brands, Inc. $ 10,998 $ 11,783 Add: Interest ex