Tootsie Roll Q2 net sales up 24% to $142.1M; EPS $0.17 vs $0.14 YoY

TOOTSIE ROLL INDUSTRIES INC

Q2 net sales $142.1M (+24% YoY); net earnings $11.99M (+21%); EPS $0.17 vs $0.14.
First-half net sales $281.4M (+30% YoY); net earnings $24.0M (+21%); EPS $0.35 vs $0.29.
Higher input costs for ingredients, packaging, freight dented margins; supply chain challenges persist.
Price increases phased in late 2021 and Q1 2022 partially offset cost inflation; further pricing planned.
Favorable FX and share buybacks aided earnings; effective tax rate 24.4% (Q2) vs 25.5% a year ago.

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