Tootsie Roll Q4 net sales up 13% to $188.2M; FY sales +20% to $681.4M

TOOTSIE ROLL INDUSTRIES INC

Q4 2022 net sales $188.2M (+13% YoY); net earnings $25.3M ($0.37 EPS) vs $20.0M ($0.29) in Q4 2021.
FY 2022 net sales $681.4M (+20% YoY); net earnings $75.9M ($1.10 EPS) vs $65.3M ($0.94) in FY 2021.
Higher input costs (ingredients, packaging, freight) partially offset sales gains; gross margins compressed.
Expect even higher input costs in 2023; price increases may not fully restore margins to historical levels.
Supply chain and labor shortages persisted; stock buybacks reduced shares outstanding.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TOOTSIE ROLL INDUSTRIES INC reported twelve months ended December 31, 2022 results: revenue $681,440,000, net income $75,937,000, EPS $1.10.

Period: twelve months ended December 31, 2022
Revenue: $681,440,000
Net income: $75,937,000
EPS: $1.10
Result: reported results

Exact text from the filing

Twelve months 2022 net sales were $681,440,000 compared to $566,043,000 in twelve months 2021, an increase of $115,397,000 or 20%. Twelve months 2022 net earnings were $75,937,000 compared to $65,326,000 in twelve months 2021, and net earnings per share were $1.10 and $0.94 in twelve months 2022 and 2021, respectively, an increase of $0.16 per share or 17%.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TOOTSIE ROLL INDUSTRIES INC reported fourth quarter ended December 31, 2022 results: revenue $188,180,000, net income $25,344,000, EPS $0.37.

Period: fourth quarter ended December 31, 2022
Revenue: $188,180,000
Net income: $25,344,000
EPS: $0.37
Result: reported results

Exact text from the filing

Fourth quarter 2022 net sales were $188,180,000 compared to $166,598,000 in fourth quarter 2021, an increase of $21,582,000 or 13%. Fourth quarter 2022 net earnings were $25,344,000 compared to $20,032,000 in fourth quarter 2021, and net earnings per share were $0.37 and $0.29 in fourth quarter 2022 and 2021, respectively, an increase of $0.08 per share or 28%.

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Source: SEC EDGAR

accession 0001558370-23-001321

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