Tootsie Roll Industries (TR) Q3 FY2023 earnings: revenue $250 million, up 17.2% on the year

Tootsie Roll Industries Inc. (TR) reported revenue of $250 million for Q3 FY2023, the quarter ended 30 September 2023, up 17.2% on the same quarter a year earlier. Net income was $34 million, up 29.4% on the year, and diluted earnings per share $0.49. The figures are the company's own, from the 10-Q it filed with the SEC on 8 November 2023.

Revenue$250 millionup 17.2%

Net income$34 millionup 29.4%

Diluted EPS$0.49

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	250	n/a	n/a	n/a
Cost of revenue	165	n/a	n/a	n/a
Gross profit	85.2	n/a	n/a	n/a
Gross margin	34.1%	n/a	n/a
Selling, general and administrative	39.3	n/a	n/a	n/a
Operating income	45.9	n/a	n/a	n/a
Operating margin	18.4%	n/a	n/a
Pre-tax income	45.2	n/a	n/a	n/a
Income tax	10.8	n/a	n/a	n/a
Effective tax rate	23.9%	n/a	n/a
Net income	34.4	n/a	n/a	n/a
Net margin	13.8%	n/a	n/a
Diluted EPS	$0.49	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	44.7	n/a	n/a	n/a
Capital expenditure	8.7	n/a	n/a	n/a
Free cash flow	36.0	n/a	n/a	n/a
Free cash flow margin	14.4%	n/a	n/a
Cash from investing	-6.2	n/a	n/a	n/a
Cash from financing	-17.3	n/a	n/a	n/a
Depreciation and amortisation	4.6	n/a	n/a	n/a
Buybacks	11.0	n/a	n/a	n/a
Dividends paid	6.3	n/a	n/a	n/a
Dividend per share	$0.09	n/a	n/a	n/a
Diluted shares, weighted	70m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	804	n/a	n/a	n/a
Non-controlling interest	-0.3	n/a	n/a	n/a
Debt	1.0	n/a	n/a	n/a
Operating lease liabilities	5.0	n/a	n/a	n/a
Other liabilities	256	n/a	n/a	n/a
Total liabilities and equity	1,066	n/a	n/a	n/a
Fixed assets	217	n/a	n/a	n/a
Goodwill	73.2	n/a	n/a	n/a
Investments	331	n/a	n/a	n/a
Cash and equivalents	47.3	n/a	n/a	n/a
Receivables	80.1	n/a	n/a	n/a
Other assets	317	n/a	n/a	n/a
Total assets	1,066	n/a	n/a	n/a

Questions

What was Tootsie Roll Industries' revenue in Q3 FY2023?

Tootsie Roll Industries (TR) reported revenue of $250 million for Q3 FY2023, the quarter ended 30 September 2023, up 17.2% on the same quarter a year earlier.

How much did Tootsie Roll Industries earn in Q3 FY2023?

Net income for Q3 FY2023 was $34 million, up 29.4% on the year, and diluted earnings per share $0.49.

When did Tootsie Roll Industries report Q3 FY2023 results?

Tootsie Roll Industries filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 8 November 2023.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	250	197	153	151	226	193	148	155	233	196	152	154
Cost of revenue	165	129	103	100	149	118	96.0	98.6	153	126	100	102
Gross profit	85.2	68.7	50.0	50.5	77.1	75.6	52.5	56.5	79.4	70.1	51.3	52.6
Gross margin	34%	35%	33%	33%	34%	39%	35%	36%	34%	36%	34%	34%
SG&A	39.3	40.4	38.9	35.0	41.8	36.9	29.4	44.4	47.0	36.7	28.1	54.2
Operating income	45.9	28.4	11.1	15.4	35.2	38.7	23.1	12.1	32.4	33.4	23.2	-1.6
Operating margin	18%	14%	7%	10%	16%	20%	16%	8%	14%	17%	15%	-1%
Pre-tax income	45.2	37.6	20.1	20.3	42.4	44.0	23.0	26.2	48.6	39.4	23.5	18.2
Tax rate	24%	22%	21%	23%	23%	49%	22%	33%	27%	27%	25%	27%
Net income	34.4	29.4	15.8	15.6	32.8	22.5	18.1	17.5	35.7	28.8	17.7	13.3
Net margin	14%	15%	10%	10%	15%	12%	12%	11%	15%	15%	12%	9%
Diluted EPS	$0.49	$0.43	$0.22	$0.22	$0.46	$0.32	$0.25	$0.24	$0.49	n/a	$0.24	$0.18
Operating cash flow	44.7	55.0	21.4	-12.6	61.3	68.8	3.6	-8.5	62.2	73.3	11.5	-22.4
Capital expenditure	8.7	7.3	4.5	3.9	5.5	4.1	2.9	7.5	11.6	12.3	8.2	12.4
Free cash flow	36.0	47.7	16.9	-16.6	55.8	64.7	0.8	-16.0	50.7	61.0	3.3	-34.8
Buybacks	11.0	5.6	n/a	n/a	n/a	n/a	6.5	0.0	0.0	-0.0	n/a	n/a
Dividends paid	6.3	6.3	12.5	0.1	6.4	6.5	12.8	0.1	6.6	6.6	13.1	0.2
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 8 November 2023, accession 0001558370-23-018181: the filing on EDGAR. All of Tootsie Roll Industries Inc.'s filings: EDGAR company page.

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