Turning Point Brands, Inc. (TPB) Financial Statements (2024 and earlier)

Company Profile

Business Address 5201 INTERCHANGE WAY
LOUISVILLE, KY 40229
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 21 - Tobacco Products (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments106,403128,32041,76595,2503,3062,607
Cash and cash equivalents106,403128,32041,76595,2503,3062,607
Receivables8,3776,4969,3316,9062,6173,248
Inventory, net of allowances, customer advances and progress billings119,91587,60779,75070,97991,23763,296
Inventory119,91587,60779,75070,97991,23763,296
Other current assets22,95926,74626,45116,11514,69410,342
Total current assets:257,654249,169157,297189,250111,85479,493
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization1,498   
Operating lease, right-of-use asset10,96715,05317,91812,130
Property, plant and equipment22,78818,65015,52413,81610,5898,859
Intangible assets, net (including goodwill)219,845249,818239,043187,751181,278161,056
Goodwill136,253162,333159,621154,282145,939134,620
Intangible assets, net (excluding goodwill)83,59287,48579,42233,46935,33926,436
Deferred income tax assets8,4431,363  
Other noncurrent assets22,64935,39926,83610,6734,236567
Other undisclosed noncurrent assets28,26232,10832,71532,96431,42032,302
Total noncurrent assets:314,452352,391332,036257,334227,523202,784
TOTAL ASSETS:572,106601,560489,333446,584339,377282,277
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities41,35640,29844,42640,64630,68122,380
Interest and dividends payable   915465
Accounts payable8,3557,3619,20114,1266,8413,686
Accrued liabilities33,00132,93735,22526,52022,92518,229
Debt  12,00015,2408,0007,850
Other liabilities2038203   
Other undisclosed current liabilities     25,0858,000
Total current liabilities:41,37640,33656,62955,88663,76638,230
Noncurrent Liabilities
Long-term debt and lease obligation407,107427,508294,079280,018186,715186,190
Long-term debt, excluding current maturities406,757414,172277,962268,951186,715186,190
Finance lease, liability350   
Liabilities, other than long-term debt10,243 7,7864,0956,2734,533
Deferred tax liabilities, net2,291 
Deferred income tax liabilities   4,0821,572
Liability, pension and other postretirement and postemployment benefits     3,0963,962
Other liabilities   3,7042,523886571
Operating lease, liability10,24313,33616,11711,067
Other undisclosed noncurrent liabilities  (13,336)    
Total noncurrent liabilities:417,350427,508301,865284,113192,988190,723
Total liabilities:458,726467,844358,494339,999256,754228,953
Equity
Equity, attributable to parent, including:111,447131,207126,594106,58582,62353,324
Treasury stock, value(78,093)(48,869)(10,191)   
Additional paid in capital113,242108,811127,362125,469110,466103,640
Accumulated other comprehensive loss(2,393)(195)(2,635)(3,773)(2,536)(2,973)
Retained earnings (accumulated deficit)78,69171,46012,058(15,308)(25,503)(47,535)
Other undisclosed equity, attributable to parent   197196192
Equity, attributable to noncontrolling interest1,7352,3124,050   
Other undisclosed equity 198197195   
Total equity:113,380133,716130,839106,58582,62353,324
TOTAL LIABILITIES AND EQUITY:572,106601,560489,333446,584339,377282,277

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues415,013445,471405,111361,989332,683285,777
Revenue, net285,777
Cost of revenue
(Cost of Goods and Services Sold)
(209,475)(227,637)(215,475)(225,243)(190,124)(160,908)
Gross profit:205,538217,834189,636136,746142,559124,869
Operating expenses(130,024)(127,513)(125,563)(109,887)(94,075)(75,369)
Operating income:75,51490,32164,07326,85948,48449,500
Nonoperating income (expense)(13,303)(6,673)(791)7,609293876
Investment income, nonoperating(13,303)(6,673)1982,648424876
Net periodic defined benefits expense (reversal of expense), excluding service cost component   (989)4,961(131)
Interest and debt expense8852,154 (1,308)(17,470)(23,005)
Other undisclosed income from continuing operations before equity method investments, income taxes      
Income from continuing operations before equity method investments, income taxes:63,09685,80263,28233,16031,30727,371
Other undisclosed income (loss) from continuing operations before income taxes(47,090)(20,500)(20,226)(17,342)267(438)
Income from continuing operations before income taxes:16,00665,30243,05615,81831,57426,933
Income tax expense(4,849)(14,040)(10,015)(2,044)(6,285)(7,280)
Income from continuing operations:11,15751,26233,04113,77425,28919,653
Income before gain (loss) on sale of properties:51,26233,04113,77425,28919,653
Net income:11,15751,26233,04113,77425,28919,653
Net income attributable to noncontrolling interest484797   556
Net income available to common stockholders, basic:11,64152,05933,04113,77425,28920,209
Interest on convertible debt 4,317    
Other undisclosed net loss available to common stockholders, diluted      
Net income available to common stockholders, diluted:11,64156,37633,04113,77425,28920,209

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:11,15751,26233,04113,77425,28919,653
Other comprehensive income   57  1,076
Other undisclosed comprehensive income (loss)(2,291)2,622    
Comprehensive income:8,86653,88433,09813,77425,28920,729
Comprehensive income, net of tax, attributable to noncontrolling interest577615   556
Other undisclosed comprehensive income (loss), net of tax, attributable to parent   1,081(1,237)413 
Comprehensive income, net of tax, attributable to parent:9,44354,49934,17912,53725,70221,285

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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