Turning Point Brands, Inc. (TPB) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the Turning Point Brand's first quarter 2026 earnings conference call. All participants will be in a listen-only mode. All lines have been placed on mute to prevent any background noise. Should you need operator assistance today, please press star zero. After today's presentation, there will be an opportunity to ask questions. Please note that this event is being recorded. I would now like to turn the conference over to Mr. Andrew Flynn, Chief Financial Officer. Please go ahead, sir. Good morning, everyone. Earlier today, we issued a press release covering our first quarter results, available in the investor relations section of our website at www.turningpointbrands.com. During this call, we'll discuss consolidated and segment operating results, the operating environment, and our progress against our strategic plan. Before we begin, please refer to forward-looking statements and risk factors in our press release and SEC filings. We'll also reference certain non-GAAP financial measures, reconciliations, and explanations are included in today's earnings release. With that, I'll turn the call over to our CEO, Bram Purdy. Thanks, Andrew. Good morning, everybody, and thank you for joining our call. We started the year with strong momentum, led by accelerating growth in modern oil, with growth in net sales up 167% and 133% year-over-year, and 30% and 26% sequentially. These results are driven by ongoing growth in both brands' B2C platforms, free's early expansion into larger, higher-volume chain accounts, and ALP's very early move into bricks and mortar. In the quarter, Modern Oral accounted for 42% of our total revenue, up from 21% in Q1 2025. Before we dive into details of the quarter, I want to step back and frame the opportunity in front of ...