---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-005692"
form_type: "8-K"
ticker: "TR"
cik: "0000098677"
company_name: "TOOTSIE ROLL INDUSTRIES INC"
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T09:08:57.702463+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001558370-24-005692
- form_type: 8-K
- ticker: TR
- cik: 0000098677
- company_name: TOOTSIE ROLL INDUSTRIES INC
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/98677/000155837024005692/0001558370-24-005692-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/98677/000155837024005692/tr-20240424x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-005692
- JSON: https://secwatch.observer/filing/0001558370-24-005692.json
- Plain text: https://secwatch.observer/filing/0001558370-24-005692.txt

## Key facts
- Earnings Releases
  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
  source text: 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%.
  evidence_url: https://www.sec.gov/Archives/edgar/data/98677/000155837024005692/0001558370-24-005692-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.