Turning point brands reports q3 adjusted earnings per share $0.56

Turning point brands announces third quarter 2019 results and explores strategic alternatives for third-party vaping distribution business.q3 adjusted earnings per share $0.56.q3 earnings per share $0.31.q3 sales rose 16.1 percent to $96.8 million.sees fy 2019 sales $361 million to $367 million.sees q4 2019 sales $79 million to $85 million."vaping headlines dramatically disrupted our third-party vaping distribution business starting in mid-august"."third-party vaping saw a step function down in quarter".turning point brands- believes future returns expected from 3rd-party vaping distribution may no longer justify investment of human, financial resources going forward.turning point brands - qtrly smokeless net sales increased 20.4% yoy, driven by double digit same-store-sales growth, chain wins for stokers' mst brand."will continue to repurpose infrastructure from third-party distribution business to support proprietary cbd sales".qtrly smoking net sales increased 7.6% year-over-year.acceleration of sg&a cost reduction plans expected to deliver $8-10 million of annualized savings.to mitigate impact of declines in third-party vaping distribution, will accelerate sg&a cost reduction plans.turning point brands - expected $8-10 million of annualized savings will come from warehouse & business consolidation & other related corporate activities.fy2019 revenue view $349.0 million -- refinitiv ibes data.
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