Turning Point Brands Names Graham Purdy CEO; Reports Preliminary Q3 Earnings

(RTTNews) - Turning Point Brands, Inc. (TPB) announced the appointment of Graham Purdy as CEO and Board Director, effective as of October 16, 2022. Prior to the appointment, Purdy served as Chief Operating Officer since 2019. The company also announced that David Glazek will transition from Non-Executive to Executive Board Chairman, effective January 2023.

Turning Point Brands said it estimates third-quarter net sales will be between $106 and $108 million, net income will be between $10.5 and $12 million, and adjusted EBITDA will be between $23.5 and $25 million.

For the full-year 2022, the company now expects consolidated adjusted EBITDA of $96 to $99 million, revised from previous outlook of $97 to $103 million.