In our testing, the thickness of the paper mattered most when actually rolling the joint. While paper thickness will affect how quickly your joint will burn, the truth is the moisture and grind of the bud you're smoking will affect burn time more than the thickness of the paper.
In our testing, rice papers burned slowly, stuck to our lips less than hemp and impacted flavor less than wood pulp and flax. And while the differences are minor, we preferred rice papers the best. Each material has different benefits impacting how the paper burns and how easy it is to roll. Rolling papers are usually made out of hemp, wood pulp, rice, flax or even pure cellulose. You will run into ‘king size’ which are longer, ‘double wide’ which are wider and ‘cones’ which are filled with flower from the top like a funnel. While the actual length and with of 1 ¼ papers will vary by brand, each is about 3 inches long and 1.75 inches wide. Size & ShapeĪlso known as the Spanish size, 1 ¼ rolling papers are pretty standard across brands and first originated out of the very first booklet-style papers made by Pay-Pay in Alcoy Spain. Modern papers come in booklets, are cut to size, and even include natural adhesives to aid in sealing the joint together. Traditional-style papers would be sold in large sheets, which smokers would have to tear to size. Turning Point is in a comfortable position ending the quarter with a total liquidity of $128.4 million. During the quarter, the company repurchased $13.9 million in aggregate principal amount of its 2.50% Convertible Senior Notes due July 2024.Originating out of Alcoy, Spain in the 17th century, rolling papers first emerged as a cheaper way to smoke tobacco (as opposed to the more premium cigars of the time). “Stoker’s saw another quarter of solid performance with strong market share gains in both the MST and loose-leaf chewing tobacco categories as its value proposition continues to resonate with consumers,” continued Purdy. Stoker’s Products net sales increased 6.2% to $33.7 million on high single-digit growth of MST and low-single digit growth of loose-leaf chewing tobacco. “The acceptance of CLIPPER lighters within the trade remains encouraging and sets up well for increased penetration going forward.” Tobacco Our e-commerce business had another quarter of double-digit growth as we continue to build our presence in the alternative channel,” said Purdy.
“Zig-Zag papers and wraps demonstrated solid results in-light of planned inventory reduction with certain customers. On a positive note, TPB’s Canadian and other smoking accessories businesses saw strong growth during the quarter. rolling papers and wraps businesses due to a reduction of trade inventory during the quarter. Turning Point said it expected the drop in the U.S. Zig-Zag rolling papers accounts for 42% of the company’s sales and during the quarter those net sales decreased 8.3% to $41.9 million.
We are currently maintaining our annual guidance as we focus on executing against our plan for the balance of the year.” Zig-Zag 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. 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. With the adjustment in trade inventory, Zig-Zag is now well-positioned to demonstrate growth for the balance of the year. “The Zig-Zag segment had an anticipated inventory reduction with certain wholesale customers but saw strong performance from the alternative channel and the roll-out of CLIPPER lighters. “We are encouraged by our first quarter operating results which fell within our expectations,” said CEO Graham Purdy. The diluted earnings were $0.41 versus last year’s $0.55 and the adjusted diluted earnings were $0.62 versus last year’s $0.71. Net income fell by 30.9% to $7.6 million. Turning Point told investors it is keeping its previous expectation of full-year 2023 adjusted EBITDA to be in a range of $88 to $94 million. (NYSE: TPB) announced financial results for the first quarter ended Maas overall by revenues increased slightly by 0.1% to $101.0 million.
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