Exhibit 99.1

Turning Point Brands Announces First Quarter 2025 Results

LOUISVILLE, KY – May 7, 2025 – Turning Point Brands, Inc. (“TPB” or “the Company”) (NYSE: TPB), a manufacturer, marketer and distributor of branded consumer products, including alternative smoking accessories and consumables with active ingredients, today announced financial results for the first quarter ended March 31, 2025.

Q1 2025 vs. Q1 2024 

Graham Purdy, President and CEO, commented, “We are pleased with our first quarter results. Modern Oral sales were $22.3 million, up nearly 10-times versus the prior year and nearly double the prior quarter. Stoker’s MST and looseleaf exceeded our expectations, and Zig-Zag was in line with our expectations.”

Zig-Zag Products Segment (44% of total net sales in the quarter) 

For the first quarter, Zig-Zag Products net sales increased 1.2% to $47.3 million.

For the quarter, the Zig-Zag Products segment gross profit decreased 7.2% from the prior year but was up 2.9% sequentially from Q4 2024 to $25.6 million. Gross margin declined 490 basis points from the prior year but was flat sequentially at 54.1%.

Stoker’s Products Segment (56% of total net sales in the quarter) 

For the first quarter, Stoker’s Products net sales increased 62.7% to $59.2 million, driven by strong growth in Modern Oral sales, low double-digit growth in MST and low single-digit growth in looseleaf. For the first quarter, total Stoker’s Products segment volume increased 55.1%, while price / product mix increased 7.6%.

For the quarter, Stoker’s Products segment gross profit increased 63.6% from the prior year, and 23.5% sequentially from Q4 2024 to $34.0 million. Gross margin increased 30 basis points from the prior year, but decreased 20 basis points sequentially to 57.5%.

Performance Measures in the First Quarter 

First quarter 2025 consolidated selling, general and administrative (“SG&A”) expenses were $36.4 million compared to $29.1 million in the first quarter of 2024 primarily driven by ALP-related SG&A that was not in the prior year period.

First quarter SG&A included the following notable items: 

Total gross debt as of March 31, 2025 was $300.0 million. Net debt (total gross debt less unrestricted cash) as of March 31, 2025 was $200.4 million. The Company ended the quarter with total liquidity of $161.8 million, comprised of $99.6 million in cash and $62.2 million of availability under its asset backed revolving credit facility.  

2025 Outlook 

The Company is increasing projected Modern Oral sales from $60.0 – 80.0 million to $80.0 – 95.0 million.

The Company is maintaining its previous expectation for full-year 2025 adjusted EBITDA of $108.0 – 113.0 million.

Earnings Conference Call

As previously disclosed, a conference call with the investment community to review TPB’s financial results has been scheduled for 9:30 a.m. Eastern on Wednesday, May 7, 2025. Investment community participants should dial in 10 minutes ahead of time using the toll-free number (800) 715-9871 (international participants should call (646) 307-1963) and follow the audio prompts after typing in the event ID: 6640134. A live listen-only webcast of the call will be available on the Events and Presentations section of the investor relations portion of the Company website (www.turningpointbrands.com). A replay of the webcast will be available on the site two hours following the call. 

Non-GAAP Financial Measures 

In addition to financial measures prepared in accordance with generally accepted accounting principles in the United States (GAAP), this press release includes certain non-GAAP financial measures including EBITDA, Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS and Adjusted Operating Income (Loss). A reconciliation of these non-GAAP financial measures accompanies this release.

About Turning Point Brands, Inc. 

Turning Point Brands (NYSE: TPB) is a manufacturer, marketer and distributor of branded consumer products including smoking accessories and consumables with active ingredients through its Zig-Zag®, Stoker’s®, FRE ®, and Alp Pouch ® brands. TPB’s products are available in more than 220,000 retail outlets in North America, and on sites such as www.zigzag.com. For the latest news and information about TPB and its brands, please visit www.turningpointbrands.com.

Forward-Looking Statements  

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may generally be identified by the use of words such as "anticipate," "believe," "expect," "intend," "plan" and "will" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. As a result, these statements are not guarantees of future performance and actual events may differ materially from those expressed in or suggested by the forward-looking statements. Any forward-looking statement made by TPB in this press release, its reports filed with the Securities and Exchange Commission (the “SEC”) and other public statements made from time-to-time speak only as of the date made. New risks and uncertainties come up from time to time, and it is impossible for TPB to predict or identify all such events or how they may affect it. TPB has no obligation, and does not intend, to update any forward-looking statements after the date hereof, except as required by federal securities laws. Factors that could cause these differences include, but are not limited to, those included in the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other reports filed by the Company with the SEC. These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.  

Investor Contacts 

Turning Point Brands, Inc. 

[email protected]

Financial Statements Follow on Subsequent Pages

Non-GAAP Financial Measures

To supplement our financial information presented in accordance with generally accepted accounting principles in the United States, or U.S. GAAP, we use non-U.S. GAAP financial measures, including EBITDA, Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS, and Adjusted Operating Income . We believe Adjusted EBITDA provides useful information to management and investors regarding certain financial and business trends relating to our financial condition and results of operations. Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS, and Adjusted Operating Income are used by management to compare our performance to that of prior periods for trend analyses and planning purposes and are presented to our board of directors. We believe that EBITDA, Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS, and Adjusted Operating Income are appropriate measures of operating performance because they eliminate the impact of expenses that do not relate to business performance.

We define “EBITDA” as net income before interest expense, gain (loss) on extinguishment of debt, income tax expense, depreciation, amortization. We define “Adjusted EBITDA” as net income before interest expense, gain (loss) on extinguishment of debt, income tax expense, depreciation, amortization, other non-cash items and other items that we do not consider ordinary course in our evaluation of ongoing operating performance. We define “Adjusted Net Income” as net income excluding items that we do not consider ordinary course in our evaluation of ongoing operating performance. We define “Adjusted Diluted EPS” as diluted earnings per share excluding items that we do not consider ordinary course in our evaluation of ongoing operating performance. We define “Adjusted Operating Income” as operating income excluding other non-cash items and other items that we do not consider ordinary course in our evaluation of ongoing operating performance.

Non-U.S. GAAP measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with U.S. GAAP. EBITDA, Adjusted Net Income, Adjusted EBITDA, Adjusted Diluted EPS, and Adjusted Operating Income exclude significant expenses that are required by U.S. GAAP to be recorded in our financial statements and is subject to inherent limitations. In addition, other companies in our industry may calculate this non-U.S. GAAP measure differently than we do or may not calculate it at all, limiting its usefulness as a comparative measure.

In accordance with SEC rules, we have provided, in the supplemental information attached, a reconciliation of the non-GAAP measures to the next directly comparable GAAP measures.