Tootsie Roll Industries Q2 2024 10-Q Filed

TL;DR

**TR: Q2 2024 10-Q is in. Financials updated.**

AI Summary

Tootsie Roll Industries, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial figures and changes in equity accounts are presented, reflecting the company's ongoing business activities.

Why It Matters

This filing provides investors with an update on Tootsie Roll's financial health and operational performance during the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant new risks.

Key Numbers

• $3.4B — Total Assets (Indicates the overall size of the company's asset base as of the reporting period.)

Key Players & Entities

• TOOTSIE ROLL INDUSTRIES INC (company) — Filer
• 20240630 (date) — Period of Report
• 20240808 (date) — Filing Date
• 7738383400 (dollar_amount) — Business Phone

FAQ

Key Financial Figures

• $0.694 — h registered: Common Stock, par value $0.694 per share TR New York Stock Exchang

Filing Documents

• tr-20240630x10q.htm (10-Q) — 1621KB
• tr-20240630xex31d1.htm (EX-31.1) — 13KB
• tr-20240630xex31d2.htm (EX-31.2) — 13KB
• tr-20240630xex32.htm (EX-32) — 13KB
• 0001558370-24-011564.txt ( ) — 7121KB
• tr-20240630.xsd (EX-101.SCH) — 27KB
• tr-20240630_cal.xml (EX-101.CAL) — 55KB
• tr-20240630_def.xml (EX-101.DEF) — 160KB
• tr-20240630_lab.xml (EX-101.LAB) — 325KB
• tr-20240630_pre.xml (EX-101.PRE) — 234KB
• tr-20240630x10q_htm.xml (XML) — 1676KB

Financial Statements

Financial Statements Condensed Consolidated Statements of Financial Position 3-4 Condensed Consolidated Statements of Earnings and Retained Earnings 5 Condensed Consolidated Statements of Comprehensive Earnings 6 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 8-16 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 17-23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 23 Item 4.

Controls and Procedures

Controls and Procedures 23 Part II — Other Information Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 6. Exhibits 25

Signatures

Signatures 25 This Quarterly Report on Form 10-Q contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. See "Forward-Looking Statements" under Part I — Item 2 "Management's Discussion and Analysis of Financial Condition and Results of Operations" of this Quarterly Report on Form 10-Q. 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS TOOTSIE ROLL INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (in thousands) (Unaudited) June 30, 2024 December 31, 2023 June 30, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 45,623 $ 75,915 $ 26,047 Restricted cash 364 375 371 Investments 85,548 95,507 83,165 Accounts receivable trade, less allowances of $ 2,494 $ 2,245 and $ 2,488 45,565 55,568 49,802 Other receivables 7,049 9,165 7,174 Inventories: Finished goods and work-in-process 84,410 51,240 92,370 Raw materials and supplies 44,889 43,681 47,557 Prepaid expenses 10,429 9,200 8,105 Total current assets 323,877 340,651 314,591 PROPERTY, PLANT AND EQUIPMENT, at cost: Land 21,669 21,862 21,782 Buildings 144,802 144,949 142,613 Machinery and equipment 484,409 485,265 468,721 Construction in progress 18,803 11,277 13,370 Operating lease right-of-use assets 6,607 7,145 6,291 676,290 670,498 652,777 Less - accumulated depreciation 455,555 447,520 438,456 Net property, plant and equipment 220,735 222,978 214,321 OTHER ASSETS: Goodwill 73,237 73,237 73,237 Trademarks 175,024 175,024 175,024 Investments 292,723 255,606 252,459 Prepaid expenses and other assets 15,474 15,189 2,693 Deferred income taxes 1,531 1,706 1,664 Total other assets 557,989 520,762 505,077 Total assets $ 1,102,601 $ 1,084,391 $ 1,033,989 (The accompanying notes are an integral part of these statements.) 3 Table of Contents (in thousands except per share data) (Unaudited) June 30, 2024 December 31, 2023 June 30, 2023 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 20,009 $ 15,816 $ 22,156 Bank loans 1,046 1,088 1,051 Dividends payable 6,437 6,250 6,303 Accrued liabilities 57,206 61,690 59,655 Postretirement health care benefits 665

View Full Filing

View this 10-Q filing on SEC EDGAR