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Dec 31, 2022
Tootsie Roll Q4 2022 Earnings Report
Tootsie Roll's Q4 2022 earnings increased due to higher sales, but were partially offset by increased input costs.
Key Takeaways
Tootsie Roll Industries reported a rise in net sales and net earnings for both the fourth quarter and twelve months of 2022, driven by increased demand and higher sales prices. However, significantly higher input costs partially mitigated the benefits of these higher sales.
Q4 2022 net sales increased by 13% to $188.18 million compared to Q4 2021.
Q4 2022 net earnings increased to $25.344 million, with earnings per share rising to $0.37.
Full year 2022 net sales increased by 20% to $681.44 million compared to 2021.
Full year 2022 net earnings increased to $75.937 million, with earnings per share rising to $1.10.