Tootsie Roll Q1 net sales up 37% to $139.3M; EPS $0.17 vs $0.15

TOOTSIE ROLL INDUSTRIES INC

Net sales $139.3M, up 37% YoY; net earnings $12.0M ($0.17 EPS) vs $10.8M ($0.15 EPS).
Revenue growth driven by demand recovery from pandemic and timing of sales from Q4 2021 due to supply chain delays.
Significantly higher input costs (ingredients, packaging, freight) partially offset sales gains; price increases phased in Q4 2021 and Q1 2022 with more in Q2 2022.
Supply chain challenges: expanded supplier lead times, delivery delays; possible temporary manufacturing line shutdowns in 2022.
Effective tax rate 24.0%; share repurchases reduced shares outstanding, benefiting EPS.

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