Purdy

Turning Point Brands Announces Third Quarter 2023 Results and Closing of New ABL Facility

Retrieved on: 
Wednesday, November 8, 2023

The Zig-Zag segment was stable sequentially from the second quarter and notwithstanding some transitory headwinds posted its third-highest revenue quarter.

Key Points: 
  • The Zig-Zag segment was stable sequentially from the second quarter and notwithstanding some transitory headwinds posted its third-highest revenue quarter.
  • Stoker’s had another solid quarter of performance led by double-digit growth year-over-year in Stoker’s MST.
  • We further de-levered the balance sheet with an opportunistic purchase of $15 million in aggregate principal amount of our convertible notes during the third quarter.
  • The new facility replaces a $25 million senior secured revolving credit facility which was scheduled to mature in August 2025.

Turning Point Brands Announces Second Quarter 2023 Results; Increases 2023 Guidance

Retrieved on: 
Wednesday, August 2, 2023

We opportunistically purchased another $15.1 million in aggregate principal amount of our convertible notes during the second quarter while maintaining a strong cash balance.

Key Points: 
  • We opportunistically purchased another $15.1 million in aggregate principal amount of our convertible notes during the second quarter while maintaining a strong cash balance.
  • Given our solid first half performance, we are raising our guidance for the full year.”
    For the second quarter, Zig-Zag Products net sales increased 1.1% to $46.7 million.
  • For the second quarter, total Stoker’s Products segment volume increased 0.7%, while price / mix increased 6.6%.
  • Second quarter consolidated selling, general and administrative (“SG&A”) expenses were $31.9 million compared to $33.3 million in the second quarter of 2022.

Turning Point Brands Announces First Quarter 2023 Results

Retrieved on: 
Wednesday, May 3, 2023

(“TPB” or “the Company”) (NYSE: TPB), a manufacturer, marketer and distributor of branded consumer products, including alternative smoking accessories and consumables with active ingredients, announced today financial results for the first quarter ended March 31, 2023.

Key Points: 
  • (“TPB” or “the Company”) (NYSE: TPB), a manufacturer, marketer and distributor of branded consumer products, including alternative smoking accessories and consumables with active ingredients, announced today financial results for the first quarter ended March 31, 2023.
  • Stoker’s had a solid quarter of performance as the value proposition of Stoker’s MST and looseleaf led to another quarter of market share gains.
  • We opportunistically purchased another $13.9 million in aggregate principal amount of our convertible notes during the first quarter while maintaining a strong cash balance.
  • First quarter consolidated selling, general and administrative (“SG&A”) expenses were $30.8 million compared to $32.6 million in the first quarter of 2022.

Purdy® Cub™ Brushes Named a Winner in Good Housekeeping’s 2022 Home Renovation Awards

Retrieved on: 
Wednesday, November 23, 2022

Purdy announced that its Cub Brush product line, including Clearcut, Clearcut Elite, Nylox, Pro-Extra and Chinex Elite, were named as winners in Good Housekeepings 2022 Home Renovation Awards in the Hottest Home Dcor category.

Key Points: 
  • Purdy announced that its Cub Brush product line, including Clearcut, Clearcut Elite, Nylox, Pro-Extra and Chinex Elite, were named as winners in Good Housekeepings 2022 Home Renovation Awards in the Hottest Home Dcor category.
  • (Photo: Business Wire)
    Delivering precision and control, Purdys Cub Brushes are handcrafted by skilled brushmakers with quality materials, all of which combine to deliver an unmatched painting experience.
  • The Cub Brushes short, smooth alder wood handles also wick away moisture and offer a comfortable ergonomic fit, while remaining lightweight and easy to control.
  • Purdy Cub Brushes deliver optimal results for specific applications and types of paints or stains.

Drilling Commences on Purdy’s North Gold and Nickel-Copper Targets

Retrieved on: 
Tuesday, August 2, 2022

Drilling program will start at the Milburn nickel-copper-gold and Morto Lago orogenic gold targets, as part of a large campaign testing multiple targets across the district.

Key Points: 
  • Drilling program will start at the Milburn nickel-copper-gold and Morto Lago orogenic gold targets, as part of a large campaign testing multiple targets across the district.
  • Additional targets for drilling include 47K, Thorpe, Bobs Well VHMS and the Bullock Park area.
  • A 4,500m RC drilling program has commenced, representing the first part of a broader drilling campaign on multiple targets in the Purdys North area and other significant prospects in the Karratha district.
  • This initially includes drilling targets for orogenic gold (copper-cobalt) at Morto Lago and Morto Lago North, and intrusive related nickel-copper-cobalt (gold-platinum group elements) targets at Milburn, Southcourt and Bushmill.

Employee Turnover an Expensive Problem for Canadian Companies

Retrieved on: 
Wednesday, December 8, 2021

One in four (24%) hiring decision-makers say employee turnover has increased at their company this year compared to last year.

Key Points: 
  • One in four (24%) hiring decision-makers say employee turnover has increased at their company this year compared to last year.
  • Each year employee turnover costs companies an average of $22,279 in recruiting costs and lost productivity, with 18% saying it costs their company $50,000 or more per year.
  • Employee turnover is such a large problem for companies that Express created a Turnover Cost Calculator for employers, which Purdy says is a useful tool to help employers understand why they need to act quickly to fill open positions.
  • In terms of what companies can do immediately to help reduce employee turnover, Aulakh says companies must look at the entire package.

New Survey: Most Canadian Companies Not Planning to Expand Workforce as Lockdowns End

Retrieved on: 
Wednesday, July 14, 2021

Fewer than 1 in 10 (8%) expect to decrease the size of their workforce.

Key Points: 
  • Fewer than 1 in 10 (8%) expect to decrease the size of their workforce.
  • According to Dan Purdy, an Express franchise owner in Abbotsford, British Columbia, companies are no longer feeling risk-averse or cautious and are looking to expand their workforces.
  • Businesses accept that in order to survive after the pandemic, government lockdowns and border closures, they must immediately invent, produce, sell and earn, Purdy said.
  • Williams believes the shortage of available workers wont disappear quickly and could hamper the ability of employers to have full staff loads or expand their workforce numbers.

New Purdy Painter’s Backpack Now at Sherwin-Williams Stores

Retrieved on: 
Monday, August 3, 2020

Purdy believes a backpack designed by pros for pros can make more organized and productive painters and created the new Purdy Painters Backpack to prove it.

Key Points: 
  • Purdy believes a backpack designed by pros for pros can make more organized and productive painters and created the new Purdy Painters Backpack to prove it.
  • Thats why the Purdy Painters Backpack carries the tools painters need to achieve the best results while looking their finest.
  • With the Purdy Painters Backpack, owners can prepare for anything while keeping everything neatly tucked away.
  • The Purdy Painters Backpack is ready for the road and stands up to rough use for those who dont mind getting dirty.

Confirmed: Pro Painters Prefer Purdy® Brushes and Rollers

Retrieved on: 
Tuesday, June 16, 2020

Purdy brushes are handcrafted without compromise, in the same way they were over 95 years ago.

Key Points: 
  • Purdy brushes are handcrafted without compromise, in the same way they were over 95 years ago.
  • Purdy roller covers are made with the same devotion to quality as Purdy brushes.
  • The first Purdy brush was built in 1925 and nearly a century later, the Purdy brand is the first choice for professional painters who build their name using the finest tools available.
  • Discover why countless painters count on Purdy products for a fantastic finish and the confidence to create amazing results.

New Purdy® Pail Lends Pro Painters a Helping Hand

Retrieved on: 
Thursday, May 28, 2020

After listening to customers, Purdy designed its new one-quart-plus capacity pail to include everything pros want from their cut bucket.

Key Points: 
  • After listening to customers, Purdy designed its new one-quart-plus capacity pail to include everything pros want from their cut bucket.
  • The Purdy Pail is the latest addition to the full line of Purdy trays, frames and pails that make it easy for painters to find the right tool for any task.
  • With Purdy Pail, we aimed to give painters yet another way to stay organized and efficient.
  • See the Purdy Pail in action , and discover why countless painters have made Purdy their preferred brand as stated in inPAINT magazines Annual Brand Preference Survey; 2019.