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Turning Point Brands Inc

Turning Point Brands, Inc. manufactures, markets, and distributes branded consumer products in the United States and Canada. It operates through two segments: Zig-Zag Products, which markets rolling papers, tubes, cigars, make-your-own cigar wraps, lighters, and accessories under the Zig-Zag brand; and Stoker's Products, which manufactures and markets moist snuff and loose-leaf chewing tobacco under brands including Stoker's, FRE, Beech-Nut, Durango, Trophy, and Wind River. The company also markets cannabis accessories and tobacco products, selling to wholesale distributors and retailers across convenience, tobacco, food, mass merchandising, drug store, and non-traditional channels. Formerly North Atlantic Holding Company, Inc., it changed its name to Turning Point Brands, Inc. in November 2015, was founded in 1988, and is headquartered in Louisville, Kentucky.

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United States
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Altria's on! PLUS Reaches 120,000 Stores as Expansion Enters Flavor Phase

Altria Group's on! PLUS nicotine pouches have reached roughly 120,000 stores nationwide, covering about 90% of nicotine-product volume, the company said. The expansion is already lifting the brand, with on! retail share reaching 8.6% in the second quarter of 2026, up 0.8 share points sequentially and 0.3 share points year over year. Reported on! shipment volume was 49.9 million cans in the quarter, down 4.2% year over year on trade inventory movements, though first-half shipment volume rose 5.1%, and on! brand awareness climbed to 57% from 53% among adult nicotine consumers aged 21-54. The next phase centers on product variety: shipments of 12-milligram on! PLUS resumed in Florida, North Carolina and Texas in three flavors, with national expansion planned for the third quarter, and additional flavors across 6, 9 and 12-milligram strengths, beginning with Blueberry Mint and Mango Pineapple, are planned for the fourth quarter. Rivals are also expanding, as Philip Morris International's ZYN shipments rose 1.8% to 2.9 billion pouches in the second quarter, and Turning Point Brands' Modern Oral net sales surged 128% to $68.4 million, or 48% of total company net sales.
MO ▲PM TPB
MO · Demand · Positive on! PLUS reached ~120,000 stores (90% of nicotine volume) with retail share up to 8.6% and brand awareness rising to 57%.
PM · Competition · Neutral Mentioned only as a rival whose ZYN shipments rose 1.8% to 2.9 billion pouches, no company-specific development.
TPB · Competition · Neutral Named only as a rival with Modern Oral net sales up 128% to $68.4M, no company-specific news.
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United States
TPB▲

Altria's on! PLUS Gains Traction in Expanding Nicotine Pouch Market

Altria Group's on! PLUS is gaining early traction within its oral nicotine portfolio as the U.S. nicotine pouch category expands, with nicotine pouches representing 59.9% of the oral tobacco category in the second quarter of 2026, up 8.1 share points year over year. on! retail share reached 8.6%, rising 0.8 share points sequentially, driven by on! PLUS, which has expanded to about 120,000 stores nationwide. on! shipments were 49.9 million cans in the second quarter, down 4.2% due to trade inventory movements, but first-half shipments increased 5.1%. The portfolio is set to broaden with a 12-milligram version planned for national expansion in the third quarter, and Blueberry Mint and Mango Pineapple extensions across 6, 9, and 12-milligram strengths scheduled for the fourth quarter. Meanwhile, Philip Morris International's ZYN shipments rose 1.8% to 2.9 billion pouches in the second quarter, and Turning Point Brands' Modern Oral net sales surged 128% to $68.4 million, representing 48% of total company net sales.
MO ▲TPB ▲PM
MO · Demand · Positive on! PLUS gaining traction and expanding to 120,000 stores, with retail share up.
TPB · Demand · Positive Modern Oral net sales surged 128%, indicating strong demand.
PM · Demand · Neutral ZYN shipments rose 1.8%, but article focuses on Altria's on! PLUS.
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Zacks Investment Research·33dRead more →
United States
TPB▲

Turning Point Brands Targets 10% Modern Oral Nicotine Share by 2030

Turning Point Brands aims to double its modern oral nicotine market share to 10% by 2030, potentially creating a $1 billion business if the U.S. category reaches $10 billion. CEO Graham Purdy told investors at the IDEAS Conference that the company's current share is about 5% and that the category was approximately $5 billion in 2025. The company is expanding its FRĒ and ALP nicotine-pouch brands through convenience-store distribution, increased marketing, and a larger sales force, and may need to roughly double its store count to meet its target. Modern oral sales are growing rapidly, but margins are currently pressured by overseas manufacturing, freight, and tariffs; Turning Point expects margins could approach 70% with domestic production. Legacy Stoker's tobacco continues providing strong cash flow, with the company holding about 60% of the large-format moist-snuff segment and roughly 30% of the chewing-tobacco category.
TPB ▲
TPB · Demand · Positive Company targets doubling modern oral nicotine market share to 10% by 2030, driven by expanding distribution and marketing.
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MarketBeat·37dRead more →
TPB▼2

Altria vs. Turning Point Brands: Which Tobacco Stock Is a Better Buy in 2026?

Altria Group and Turning Point Brands present contrasting investment cases in the tobacco sector. Altria, with its dominant Marlboro brand, generated nearly $20.1 billion in revenue and $6.95 billion in net income in fiscal 2025, while Turning Point Brands posted $463.1 million in revenue and $58.2 million in net income, a 28% year-over-year increase. Altria offers a forward dividend yield of nearly 6% and a forward price-to-earnings ratio of 13.0, compared to Turning Point's yield of less than 1% and forward P/E of 62.9. The analysis concludes that Altria is the better buy due to its strong dividend and lower valuation, despite headwinds from declining smoking rates and regulatory challenges.
MO ▲TPB ▼
MO · Capital · Positive Article concludes Altria is the better buy due to strong dividend and lower valuation.
TPB · Capital · Negative Article concludes Turning Point Brands is less attractive due to high valuation and low dividend yield.
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TPB▲

Turning Point Brands targets 10% nicotine pouch market share by 2030

Turning Point Brands is pivoting from legacy tobacco to high-growth nicotine pouches, targeting a 10% U.S. market share by 2030 that could represent a $1.5 to $2.5 billion revenue opportunity against trailing twelve-month sales of approximately $481 million. The company is investing in a new Louisville, Kentucky manufacturing facility expected to lift gross margins above 60% and EBITDA margins above 25% once scaled, though near-term spending on production, marketing, and distribution is temporarily suppressing profitability. Its ALP brand, backed by a joint venture with Tucker Carlson, has expanded from roughly 1,000 to 10,000 stores within months, while FRE is building retail presence through sports partnerships. Despite intense competition from Zyn, On!, and Velo, the bullish thesis sees the recent 40% share-price decline as an attractive entry point, with shares trading at roughly 12 times estimated 2027 free cash flow and offering potential for a 7- to 10-times return over five years if execution meets expectations.
TPB ▲BATS.LSE ▼
TPB · Demand · Positive Targeting 10% U.S. nicotine pouch market share by 2030, representing $1.5-2.5B revenue opportunity, with ALP expanding from 1,000 to 10,000 stores.
BATS.LSE · Competition · Negative Turning Point Brands' aggressive expansion into nicotine pouches intensifies competition for British American Tobacco's brands like Velo.
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