Turning Point Brands, Inc. Earnings Recaps
Q1 2026
May 8, 2026
Turning Point Brands shares jumped 15% after the quarter, driven primarily by outsized growth in the Modern Oral segment, which more than doubled sales year-over-year and expanded retail distribution faster than expected.
Key takeaways
- Modern Oral gross and net sales increased 167% and 133% year-over-year, contributing 42% of total revenue, up from 21% a year ago.
- Growth was driven by both direct-to-consumer strength and accelerated expansion into larger chain convenience stores, with chain store count expected to increase 70% year-over-year by end of 2026.
- Company is investing heavily in sales force, marketing, and manufacturing capacity (including commissioning a Louisville facility), expecting these to support margin expansion toward a long-term 70% target.
- First-quarter investments in marketing partnerships and brand building aim to increase consumer awareness and support future retail productivity gains.
- Management framed results as early innings of a generational shift in nicotine consumption, reinforcing confidence in long-term category share goals.
Q3 2025
Nov 6, 2025
Turning Point Brands delivered strong Q3 results, achieving a 31% revenue growth and increasing adjusted EBITDA guidance, underscored by exceptional performance in the Modern Oral segment.
Key takeaways
- Revenue rose to $119 million, with Modern Oral contributing $36.7 million, including $1.5 million in slotting fees.
- Adjusted EBITDA increased 17% to $31.3 million; full-year guidance raised to $115 million-$120 million.
- Nicotine pouch sales guidance updated to $125 million-$130 million, reflecting robust demand and strategic market penetration.
- White nicotine pouch sales surged 628% year-over-year, with ALP expanding into retail channels ahead of schedule.
- Significant investments are being made in sales force, marketing, and production capabilities to capitalize on the anticipated $10 billion nicotine category.