Turning Point Brands, Inc. (NYSE:TPB) Q3 2022 Earnings Conference Call October 26, 2022 8:30 AM ET

Company Participants

Louie Reformina - CFO

Graham Purdy - CEO

Conference Call Participants

Vivien Azer - Cowen

Eric Des Lauriers - Craig-Hallum

Operator

Good morning. And welcome to the Turning Point Brands Third Quarter 2022 Earnings Conference Call. All participants will be in the listen-only mode. All lines have been placed on mute to prevent any background noise. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. Please note that this event is being recorded.

I would now like to turn the conference over to Louie Reformina, Chief Financial Officer. Please go ahead.

Louie Reformina

Thank you. Good morning, everyone. This is Louie Reformina, Chief Financial Officer. Joining me are Turning Point Brands’ President and CEO, Graham Purdy and Chief Marketing Officer Summer Frein.

This morning, we issued a news release covering our third quarter results. This release is located in the IR section of our website, www.turningpointbrands.com. There is also a presentation which we will be referencing on the call available on the site.

During this call, we will discuss our consolidated and segment operating results and provide a perspective on the operating environment and our progress against our strategic plan. As is customary, I direct your attention to the discussion of forward-looking and cautionary statements in today's press release and the risk factors in our filings with the Securities and Exchange Commission.

On the call today, we will reference certain non-GAAP financial measures. These measures and reconciliations to GAAP can be found in today's earnings release, along with reasons why management believes that they provide useful information.

I will now turn the call over to our CEO, Graham Purdy.

Graham Purdy

Thank you, Louie. Good morning, everybody, and thank you for joining our call. For those of you that don't know me, I may be new to the CEO job, but I'm not new to this industry, Turning Point Brands or its people. After spending seven years at PM U.S.A., I joined the company in 2004 as Trade Marketing Director. Throughout the years, I've had many roles, including head of Field Sales, and New Venture Divisions before taking on the CEO role in 2019.

In that role, I oversaw repositioning of the company and initiatives that have led to accelerated growth. This included, growing Zig-Zag segment sales from $109 million in 2019, to approximately $190 million we're projecting this year. Over my time at the company, I've worked across numerous functional areas and developed strong relationships with talented colleagues throughout the organization. I'm excited by the opportunity to lead the team as we continue to build a world-class CPG company for the benefit of our customers, employees and shareholders.