Note 15 - Income Per Share

6 Months Ended

Jun. 30, 2025

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 15. Income Per Share

The Company calculates earnings per share using the treasury stock method for its options and non-vested restricted stock units, and the if-converted method for its Convertible Senior Notes.

The following is a reconciliation of the numerators and denominators of the basic and diluted EPS computations of net income:

		*Three Months Ended June 30,*
		*2025*												*2024*
										*Per*												*Per*
		*Income*				*Shares*				*Share*				*Income*				*Shares*				*Share*
Basic EPS:
Numerator
Income from continuing operations less non-controlling interest		$	14,480							$	0.81			$	13,048							$	0.74
Loss from discontinued operations, net of tax			-								-				(41	)							-
Net income attributable to Turning Point Brands, Inc.		$	14,480							$	0.81			$	13,007							$	0.74

Denominator
Weighted average							17,920,567												17,656,732

Diluted EPS:
Numerator
Income from continuing operations less non-controlling interest		$	14,480											$	13,048
Interest expense related to Convertible Senior Notes, net of tax			-												731
Diluted income from continuing operations			14,480							$	0.79				13,779							$	0.68
Loss from discontinued operations, net of tax			-								-				(41	)							-
Diluted net income		$	14,480							$	0.79			$	13,738							$	0.68

Denominator
Basic weighted average							17,920,567												17,656,732
Convertible Senior Notes							-												2,220,057
Stock options and restricted stock units ⁽¹⁾							401,346												280,065
							18,321,913												20,156,854

		*Six Months Ended June 30,*
		*2025*												*2024*
										*Per*												*Per*
		*Income*				*Shares*				*Share*				*Income*				*Shares*				*Share*
Basic EPS:
Numerator
Income from continuing operations less non-controlling interest		$	28,875							$	1.62			$	25,060							$	1.42
Loss from discontinued operations, net of tax			-								-				(43	)							-
Net income attributable to Turning Point Brands, Inc.		$	28,875							$	1.62			$	25,017							$	1.42

Denominator
Weighted average							17,854,667												17,655,713

Diluted EPS:
Numerator
Income from continuing operations less non-controlling interest		$	28,875											$	25,060
Interest expense related to Convertible Senior Notes, net of tax			-												1,428
Diluted income from continuing operations			28,875							$	1.58				26,488							$	1.31
Loss from discontinued operations, net of tax			-								-				(43	)							-
Diluted net income		$	28,875							$	1.58			$	26,445							$	1.31

Denominator
Basic weighted average							17,854,667												17,655,713
Convertible Senior Notes							-												2,219,038
Stock options and restricted stock units ⁽¹⁾							396,126												285,388
							18,250,793												20,160,139

⁽¹⁾

There were outstanding stock options of 0.0 million and 0.2 million for the three months ended June 30, 2025 and 2024, respectively, and 0.0 million and 0.3 million for the six months ended June 30, 2025 and 2024, respectively, not included in the computation of diluted earnings per share because the effect would have been antidilutive.