Tootsie Roll Q1 net sales down 6% to $151.5M; EPS rises 16% to $0.22

TOOTSIE ROLL INDUSTRIES INC

Net earnings of $15.8M ($0.22 EPS) vs $13.4M ($0.19 EPS) in Q1 2023, a 16% increase.
Net sales fell 6% to $151.5M; management cites customer inventory adjustments and seasonal timing.
Price realization and plant efficiencies boosted gross profit; higher cocoa/chocolate costs expected to pressure margins in 2024-2025.
Effective tax rate dropped to 21.4% from 23.8% due to lower state income taxes.
Share repurchases over past 12 months reduced outstanding shares, benefiting EPS.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

TOOTSIE ROLL INDUSTRIES INC reported first quarter ended March 31, 2024 results: revenue $151,464,000, net income $15,834,000, EPS $0.22.

Period: first quarter ended March 31, 2024
Revenue: $151,464,000
Net income: $15,834,000
EPS: $0.22
Result: reported results

Exact text from the filing

First quarter 2024 net sales were $151,464,000 compared to $160,711,000 in first quarter 2023, a decrease of $9,247,000 or 6%. First quarter 2024 net earnings were $15,834,000 compared to $13,401,000 in first quarter 2023, and net earnings per share were $0.22 and $0.19 in first quarter 2024 and 2023, respectively, an increase of $0.03 per share or 16%.

View on SEC.gov

340 earnings releases filed in the last 30 days. Browse all earnings releases →

TOOTSIE ROLL INDUSTRIES INC filing history →

Source: SEC EDGAR

accession 0001558370-24-005692

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.