Tootsie Roll Industries, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 01:01 pm EST
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Tootsie Roll Industries, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 1.52 million compared to USD 1.29 million a year ago. Revenue was USD 249.85 million compared to USD 213.17 million a year ago. Net income was USD 34.38 million compared to USD 26.58 million a year ago. Basic earnings per share from continuing operations was USD 0.4757 compared to USD 0.3592 a year ago.
For the nine months, sales was USD 4.21 million compared to USD 3.99 million a year ago. Revenue was USD 572.09 million compared to USD 497.25 million a year ago. Net income was USD 62.51 million compared to USD 50.59 million a year ago. Basic earnings per share from continuing operations was USD 0.8641 compared to USD 0.6893 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).