Turning Point Brands (TPB) stock plummeted 5.09% in intraday trading on Thursday, following the company's mixed fourth quarter earnings release.
The tobacco company reported adjusted earnings per share of $0.98 for Q4, beating analyst estimates of $0.91. However, TPB's revenue of $93.67 million missed the consensus forecast of $95.07 million.
While TPB's earnings surpassed expectations, driven by stronger pricing and market share gains, the revenue shortfall appears to have spooked investors. analysts had expected the company's sales for the quarter to grow nearly 15% year-over-year, but the actual 12.8% increase fell short of estimates.
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