Tootsie Roll Industries, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 08, 2023 at 01:01 pm EDT
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Tootsie Roll Industries, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 1.31 million compared to USD 1.36 million a year ago. Revenue was USD 160.15 million compared to USD 143.44 million a year ago. Net income was USD 14.73 million compared to USD 11.99 million a year ago. Basic earnings per share from continuing operations was USD 0.2039 compared to USD 0.1602 a year ago.
For the six months, sales was USD 2.69 million compared to USD 2.71 million a year ago. Revenue was USD 322.24 million compared to USD 284.08 million a year ago. Net income was USD 28.13 million compared to USD 24.02 million a year ago. Basic earnings per share from continuing operations was USD 0.3884 compared to USD 0.3301 a year ago.
Tootsie Roll Industries, Inc. is engaged in the manufacturing and sale of confectionery products. The Company's products are marketed in a variety of packages designed to be suitable for display and sale in different types of retail outlets. They are sold through food and grocery brokers or directly by the Company itself to customers throughout the United States, Canada and Mexico. These customers include wholesale distributors of candy, food and groceries, supermarkets, variety stores, dollar stores, chain grocers, drug chains, discount chains, cooperative grocery associations, mass merchandisers, warehouse and membership club stores, and e-commerce merchants. Its products are sold under the registered trademarks, which include TOOTSIE ROLL, TOOTSIE FRUIT ROLLS, FROOTIES, TOOTSIE POPS, TOOTSIE MINI POPS, CHILDâS PLAY, CARAMEL APPLE POPS, CHARMS, BLOW-POP, CHARMS MINI POPS, CELLAâS, DOTS, SUGAR BABIES, ANDES, FLUFFY STUFF, DUBBLE BUBBLE, RAZZLES, CRY BABY, and TUTSI POP (Mexico).