- Turning Point Brands Inc (NYSE:TPB) has appointed Graham Purdy as CEO and Board Director, effective as of October 16, 2022, following Yavor Efremov’s resignation as CEO and Director.
- Purdy has served as TPB’s Chief Operating Officer since 2019. Since joining TPB in 2004, Purdy has held various leadership positions.
- Additionally, David Glazek will transition from Non-Executive to Executive Board Chairman, effective January 2023.
- Preliminary Q3 Earnings: Turning point sees Q3 FY22 sales of $106 million – $108 million against an estimate of $105.87 million.
- The company sees Q3 FY22 net income of $10.5 million – $12 million and adjusted EBITDA of $23.5 million – $25 million.
- FY22 Outlook: Turning point lowered FY22 Zig-Zag Products sales guidance to $186 million – $191 million from the previous outlook of $193 million – $200 million.
- It also lowered FY22 adjusted EBITDA to $96 million – $99 million (compared to the previous outlook of $97 million – $103 million.
- Price Action: TPB shares are trading lower by 2.61% at $20.50 in premarket on the last check Monday.
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