Turning Point Brands, Inc. (TPB) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Stoker's Products	130.8	124.3	115.9	99.9	90.0
Zig-Zag Products	190.4	176.5	132.8	108.7	111.5
NewGen Products	93.8	144.7	156.4	153.4	131.1	91.3	17.3	17.1
Smoking Products						110.0	111.0	105.9
Smokeless Products						84.6	77.9	74.3
Total revenues	415.0	445.5	405.1	362.0	332.7	285.8	206.2	197.3
Revenue growth [+]	-6.8%	10.0%	11.9%	8.8%	16.4%	38.6%	4.5%	-1.5%
Stoker's Products	5.3%	7.3%	16.0%	11.0%
Zig-Zag Products	7.9%	32.9%	22.1%	-2.5%
NewGen Products	-35.2%	-7.5%	2.0%	16.9%	43.7%	427.2%	1.4%	-15.0%
Smoking Products						-0.9%	4.8%	-2.7%
Smokeless Products						8.5%	4.9%	4.0%
Unit growth	0.9%	2.4%
Cost of goods sold	209.5	227.6	215.1	224.9	190.1	160.8	105.7	101.0
Gross profit	205.5	217.8	190.0	137.1	142.6	125.0	100.5	96.3
Gross margin	49.5%	48.9%	46.9%	37.9%	42.9%	43.7%	48.8%	48.8%
Selling, general and administrative	130.0	127.5	125.6	109.9	94.1	75.3	56.6	51.8
Other operating expenses	-27.6
Adjusted EBITDA	113.7	102.9	72.0	34.9	53.0	52.7	45.4	45.8
Adjusted EBITDA margin	27.4%	23.1%	17.8%	9.7%	15.9%	18.5%	22.0%	23.2%
Stock-based compensation	5.3	7.6	2.6	3.6	1.4	0.7	0.2	0.2
EBITDA [+]	108.4	95.3	69.4	31.3	51.6	52.0	45.2	45.6
EBITDA growth	13.7%	37.3%	121.7%	-39.3%	-0.8%	15.1%	-0.8%	-7.0%
EBITDA margin	26.1%	21.4%	17.1%	8.7%	15.5%	18.2%	21.9%	23.1%
Depreciation	3.4	3.1	3.2	2.6	2.1	1.6	1.2	1.1
EBITA	105.0	92.2	66.2	28.7	49.5	50.4	44.0	44.5
EBITA margin	25.3%	20.7%	16.3%	7.9%	14.9%	17.6%	21.3%	22.6%
Amortization of intangibles	1.9	1.9	1.8	1.5	1.0	0.7	0.1
EBIT [+]	103.1	90.3	64.4	27.2	48.5	49.7	43.9	44.5
EBIT growth	14.1%	40.2%	136.6%	-43.8%	-2.4%	13.1%	-1.3%	-7.4%
EBIT margin	24.8%	20.3%	15.9%	7.5%	14.6%	17.4%	21.3%	22.6%
Non-recurring items [+]	27.6
Asset impairment	27.6
Interest expense, net [+]	-13.3	-6.7	-0.2	-2.6	-0.4	-0.4	26.6	34.3
Interest expense							26.7	34.3
Interest income	13.3	6.7	0.2	2.6	0.4	0.4	0.1
Other income (expense), net [+]	-72.8	-31.7	-14.5	-10.8	-17.3	-23.2	-2.4
Gain (loss) on debt retirement	0.9	2.2		-1.3	-2.4	-6.1	-2.8
Pre-tax income	16.0	65.3	50.1	19.1	31.6	26.9	14.9	10.2
Income taxes	4.8	14.0	12.0	2.9	6.3	7.3	-12.0	1.1
Tax rate	30.3%	21.5%	23.8%	15.0%	19.9%	27.0%		10.5%
Minority interest	-0.5	-0.8				-0.6
Net income	11.6	52.1	38.2	16.2	25.3	20.2	26.9	9.1
Net margin	2.8%	11.7%	9.4%	4.5%	7.6%	7.1%	13.1%	4.6%

Basic EPS [+]	$0.65	$2.75	$1.97	$0.83	$1.31	$1.06	$1.63	$1.27
Growth	-76.4%	39.8%	138.0%	-36.7%	22.8%	-34.9%	28.6%	-131.2%
Diluted EPS [+]	$0.64	$2.33	$1.67	$0.70	$1.28	$1.04	$1.49	$1.10
Growth	-72.3%	39.7%	138.4%	-45.2%	23.2%	-30.7%	36.4%	-126.9%

Dividends per share [+]	$0.24	$0.22	$0.20	$0.18	$0.12	$0.04
Growth	9.7%	10.5%	8.9%	50.2%	196.1%

Shares outstanding (basic) [+]	17.9	18.9	19.4	19.6	19.4	19.0	16.5	7.2
Growth	-5.4%	-2.5%	-1.2%	1.4%	1.9%	15.3%	128.8%	-0.4%
Shares outstanding (diluted) [+]	18.1	22.4	22.9	23.2	19.8	19.5	18.0	8.4
Growth	-19.3%	-2.4%	-1.3%	17.2%	1.6%	8.3%	115.6%	15.7%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.