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Turning Point Brands profit misses consensus by 31.7% in Q3

Turning Point Brands Inc. said its third-quarter normalized net income amounted to 33 cents per share, compared with the S&P Capital IQ consensus estimate of 49 cents per share.

EPS rose 59.7% year over year from 21 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.6 million, a gain of 58.5% from $4.1 million in the year-earlier period.

The normalized profit margin climbed to 8.9% from 8.1% in the year-earlier period.

Total revenue climbed 43.9% year over year to $73.3 million from $51.0 million, and total operating expenses grew 50.9% year over year to $59.0 million from $39.1 million.

Reported net income grew 11.0% on an annual basis to $7.4 million, or 38 cents per share, from $6.7 million, or 34 cents per share.