: Maker of Zig-Zag rolling paper beats revenue and adjusted earnings targets
Turning Point Brands Inc. TPB stock rose 5% in premarket trades after the maker of Zig-Zag rolling papers beat its revenue and earnings targets. Turning Point Brands said it lost $16.3 million, or 93 cents a share, after posting a profit of $11.45 million, or 57 cents a share, in the year-ago quarter. Its adjusted fourth-quarter profit of 69 cents a share beat the estimate of 48 cents a share, according to estimates compiled by FactSet. Fourth-quarter revenue fell to $103.4 million from $105.3 million in the year-ago period, and beat the analyst estimate of $101.7 million.
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