Turning Point Brands, Inc. (NYSE:TPB) Q1 2022 Earnings Conference Call April 27, 2022 8:30 AM ET
Company Participants
Louie Reformina - Chief Financial Officer
Yavor Efremov - President & Chief Executive Officer
Graham Purdy - Chief Operating Officer
Conference Call Participants
Eric Des Lauriers - Craig-Hallum Capital Group
Vivien Azer - Cowen
Gaurav Jain - Barclays
Operator
Good morning and welcome to the Turning Point Brands' First Quarter 2022 Earnings Conference Call. All participants will be in a listen-only mode. All lines have been placed on mute to prevent any background noise. [Operator Instructions] 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 operator. Good morning everyone. This is Louie Reformina, Chief Financial Officer. Joining me is Turning Point Brands' President and CEO, Yavor Efremov; and Graham Purdy, Chief Operating Officer.
This morning we issued a news release covering our first quarter results. This release is located in the IR section of our website at www.turningpointbrands.com. There is also a presentation we will be referencing on the call available on the site.
On that presentation if you turn to slide two, our disclaimers, during this call, we will discuss our consolidated and segment operating results and provide a perspective on our progress against our strategic plan. As is customary, I'd 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 SEC.
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, Yavor Efremov.
Yavor Efremov
Thank you Louie. Good morning everyone and thank you for joining our call. We had a strong start to the year with our first quarter results in line to slightly better than our expectation. Zig-Zag continued its strong growth trajectory with another quarter of double-digit growth led by our US papers business building on its market share gains in the measure channel.
In addition we're showing good progress in our alternative channel efforts as we benefit from increased sales force focus into the channel and the secular growth in the industry.
Stoker's MST also saw double-digit growth during the quarter. While inflation is pressuring the consumer wallet Stoker's was well-positioned with its value proposition to capture share as consumers traded down during the quarter.