Tootsie Roll Q2 net sales up 12% to $158.8M; EPS $0.21 vs $0.17, +24% YoY

TOOTSIE ROLL INDUSTRIES INC

Q2 net sales $158.8M (+12% YoY); net earnings $14.7M; EPS $0.21 (+24% vs $0.17).
First half net sales $319.5M (+14%); EPS $0.40 vs $0.34 (+18% YoY).
Higher input costs (ingredients, packaging, labor) significantly offset sales gains; margins not restored to historical levels.
Price increases implemented since late 2021 continue; costs expected to rise further in 2024.
Supply chain improved in H1; labor challenges persist; share buybacks reduced share count aiding EPS.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

TOOTSIE ROLL INDUSTRIES INC reported second quarter ended June 30, 2023 results: revenue $158,837,000, net income $14,726,000, EPS $0.21.

Period: second quarter ended June 30, 2023
Revenue: $158,837,000
Net income: $14,726,000
EPS: $0.21
Result: reported results

Exact text from the filing

Second quarter 2023 net sales were $158,837,000 compared to $142,081,000 in second quarter 2022, an increase of $16,756,000 or 12%. Second quarter 2023 net earnings were $14,726,000 compared to $11,989,000 in second quarter 2022, and net earnings per share were $0.21 and $0.17 in second quarter 2023 and 2022, respectively, an increase of $0.04 per share or 24%.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

TOOTSIE ROLL INDUSTRIES INC reported first half of 2023 results: revenue $319,548,000, net income $28,127,000, EPS $0.40.

Period: first half of 2023
Revenue: $319,548,000
Net income: $28,127,000
EPS: $0.40
Result: reported results

Exact text from the filing

First half 2023 net sales were $319,548,000 compared to $281,372,000 in first half 2022, an increase of $38,176,000 or 14%. First half 2023 net earnings were $28,127,000 compared to $24,016,000 in first half 2022, and net earnings per share were $0.40 and $0.34 in first half 2023 and 2022, respectively, an increase of $0.06 per share or 18%.

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Source: SEC EDGAR

accession 0001558370-23-012250

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