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Turning Point Brands profit misses consensus by 56.3% in Q2

Turning Point Brands Inc. said its normalized net income for the second quarter came to 19 cents per share, compared with the S&P Capital IQ consensus estimate of 44 cents per share.

EPS fell 10.8% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.2 million, a gain from $1.6 million in the prior-year period.

The normalized profit margin rose to 5.1% from 3.2% in the year-earlier period.

Total revenue climbed 7.5% year over year to $51.6 million from $48.0 million, and total operating expenses rose 7.6% on an annual basis to $39.7 million from $36.9 million.

Reported net income totaled $843,870, or 5 cents per share, compared to a loss of $1.4 million, or a loss of 20 cents per share, in the prior-year period.