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What Turning Point Brands (TPB) Said on Its Q3 Earnings Call
Modern Oral sales more than doubled and accounted for 49.2% of revenue as Turning Point Brands increased marketing spending and repurchased $10 million of stock.
Turning Point Brands (NYSE:TPB) reported 27% revenue growth in the third quarter as sales of its FRE and ALP nicotine pouches more than doubled, but increased spending on sales and marketing weighed on profitability.
Net sales rose to $151 million, while adjusted EBITDA fell 41% from a year earlier