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Turning Point Brands profit misses consensus by 46.3% in Q3

Turning Point Brands Inc. said its normalized net income for the third quarter came to 21 cents per share, compared with the S&P Capital IQ consensus estimate of 39 cents per share.

EPS declined 42.3% year over year from 36 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.1 million, a gain of 36.5% from $3.0 million in the year-earlier period.

The normalized profit margin rose to 8.1% from 5.9% in the year-earlier period.

Total revenue came to $51.0 million, compared with $51.4 million in the year-earlier period, and total operating expenses grew from the prior-year period to $38.9 million from $37.9 million.

Reported net income increased 41.2% year over year to $6.7 million, or 34 cents per share, from $4.8 million, or 57 cents per share.