Tootsie Roll Q1 net sales fall 6% to $151.5 million; EPS rises to $0.22
Tootsie Roll reported first quarter 2024 net sales of $151.5 million, down $9.2 million or 6% from a year earlier, while net earnings rose to $15.8 million and earnings per share rose to $0.22 from $0.19. The company said customers resisted higher prices, seasonal sales timing and customer inventory adjustments hurt sales, and it expects rising cocoa and chocolate costs to weigh on input costs and margins in 2024 and 2025.
Key points
- Net sales were $151,464,000 versus $160,711,000 in Q1 2023, a decrease of $9,247,000 or 6%.
- Net earnings were $15,834,000 versus $13,401,000, and EPS was $0.22 versus $0.19, an increase of 16%.
- Effective income tax rate was 21.4% versus 23.8% a year earlier, with lower state income taxes a contributing factor.
- Management expects cocoa and chocolate cost increases to have adverse effects on input costs and margins in 2024 and 2025.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 2:07 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 25, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.