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Jun 30, 2021
Tootsie Roll Q2 2021 Earnings Report
Tootsie Roll Industries reported an increase in net sales and net earnings for Q2 2021.
Key Takeaways
Tootsie Roll Industries reported a significant increase in net sales and net earnings for the second quarter of 2021. Net sales increased by 44% to $114,560,000, and net earnings increased by 27% to $9,794,000, with earnings per share rising to $0.14.
Second quarter net sales increased by 44% compared to Q2 2020, reaching $114,560,000.
Net earnings for the second quarter rose to $9,794,000, a 27% increase year-over-year.
Earnings per share increased to $0.14, up from $0.11 in the second quarter of 2020.
Increased costs for ingredients, packaging, freight, and manufacturing supplies adversely affected gross profit margins and net earnings.