# EDGAR Filing Document

**Accession Number:** 0000098677
**File Stem:** 0001558370-25-009510
**Filing Date:** 2025-7
**Character Count:** 12750
**Document Hash:** 117cea01e26d673dc25d218aaff1f636
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001558370-25-009510.hdr.sgml**: 20250724

**ACCESSION NUMBER**: 0001558370-25-009510

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250723

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250724

**DATE AS OF CHANGE**: 20250724

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TOOTSIE ROLL INDUSTRIES INC
- **CENTRAL INDEX KEY:** 0000098677
- **STANDARD INDUSTRIAL CLASSIFICATION:** SUGAR & CONFECTIONERY PRODUCTS [2060]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 221318955
- **STATE OF INCORPORATION:** VA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-01361
- **FILM NUMBER:** 251145372

**BUSINESS ADDRESS:**
- **STREET 1:** 7401 S CICERO AVE
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60629
- **BUSINESS PHONE:** 7738383400

**MAIL ADDRESS:**
- **STREET 1:** 7401 S CICERO AVE
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60629

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SWEETS CO OF AMERICA INC
- **DATE OF NAME CHANGE:** 19660921

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORTPursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report**: July 23, 2025**

(Date of earliest event reported)

**TOOTSIE ROLL INDUSTRIES, INC.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Virginia**<br>(State or other jurisdiction of incorporation) | **001-01361**<br>(Commission File Number) | **22-1318955**<br>(IRS Employer Identification No.) |

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**7401 South Cicero AvenueChicago, IL 60629**(Address of principal executive offices)

Registrant's telephone number including area code: **(773) 838-3400**

**Not Applicable**

(Former name or former address if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13 e-4(c) under the Exchange Act (17 CFR 240.13 e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class:** | **Trading Symbol** | **Name of each exchange on which registered:** |
| Common Stock, par value $0.694 per share | TR | New York Stock Exchange |

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**Item 2.02.&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition.**

On July 23, 2025, Tootsie Roll Industries, Inc. issued a press release (the "release") announcing its results of operations and financial condition for the second quarter ended June 30, 2025. A copy of the release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

The information in the release and in this Item 2.02 is "furnished" and not "filed" for purposes of Section 18 of the Securities and Exchange Act of 1934, or otherwise subject to the liabilities of that section. Such information may only be incorporated by reference in another filing under the Securities Exchange Act of 1934 or the Securities Act of 1933 only if and to the extent such subsequent filing specifically references such information.

**Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.**

(c) The following exhibit is furnished with this report:

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| | |
|:---|:---|
| Exhibit 99.1 | [Press Release of Tootsie Roll Industries, Inc., dated July 23, 2025.](tr-20250723xex99d1.htm) |
| Exhibit 104 | Cover Page Interactive Data File (formatted as inline XBRL). |

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the under-signed thereunto duly authorized.

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| | | |
|:---|:---|:---|
| July 24, 2025 | **TOOTSIE ROLL INDUSTRIES, INC.**  | **TOOTSIE ROLL INDUSTRIES, INC.**  |
|  | By: | /S/ G. HOWARD EMBER, JR. |
|  |  | G. Howard Ember, Jr. |
|  |  | Vice President Finance and Chief Financial Officer |

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## Exhibit 99.1

**Exhibit 99.1**

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| | |
|:---|:---|
| **TOOTSIE ROLL INDUSTRIES, INC.** |  |
|  | 7401 South Cicero Avenue |
|  | Chicago, IL 60629 |
|  | Phone 773/838-3400 |
|  | Fax 773/838-3534 |

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**PRESS RELEASE**

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| | |
|:---|:---|
| STOCK TRADED: NYSE | FOR IMMEDIATE RELEASE |
| TICKER SYMBOL: TR | Wednesday, July 23, 2025 |

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CHICAGO, ILLINOIS – July 23, 2025 - Ellen R. Gordon, Chairman, Tootsie Roll Industries, Inc. reported second quarter and first half 2025 net sales and net earnings.

Second quarter 2025 net sales $153,190,000 compared to $148,819,000 in second quarter 2024, an increase of $4,371,000 or 3%. Second quarter 2025 net earnings were $17,544,000 compared to $15,640,000 in second quarter 2024, and net earnings per share were $0.24 and $0.21 in second quarter 2025 and 2024, respectively, an increase of $0.03 per share or 14%.

First half 2025 net sales were $299,711,000 compared to $300,283,000 in first half 2024, a decrease of $572,000. First half 2025 net earnings were $35,602,000 compared to $31,474,000 in first half 2024, and net earnings per share were $0.49 and $0.43 in first half 2025 and 2024, respectively, an increase of $0.06 per share or 14%.

Mrs. Gordon said, "Successful marketing and sales programs contributed to higher sales in second quarter 2025 compared to the prior year second quarter. We continued to face some challenges in first half 2025 as customers and consumers became more resistant to higher prices, and these headwinds had some adverse effect on sales in first half 2025.

Many companies in the consumer products industry have increased selling prices in order to improve price realization in response to increasing input costs in recent years. We have implemented price increases as well during this period in order to mitigate certain input cost increases and recover our margin declines. Although we made progress in restoring our margins in second quarter and first half 2025, certain ingredients and packaging materials unit costs, including cocoa and chocolate, have increased in first half 2025 compared to 2024. Cocoa and chocolate markets continue at significantly elevated levels compared to historical prices in past years. As a result, we expect to incur even higher costs for these ingredients during the balance of 2025 and into 2026 as many of our older supply contracts expire and new contracts at higher costs become effective. Although the Company continues to monitor its input costs, we are mindful of the effects and limits when passing on the above-discussed higher input costs to our customers as well as the final consumers of our products.

Second quarter and first half 2025 gross profit margins benefited from higher price realization, improvements in plant manufacturing operating efficiencies, and certain cost reductions. The Company uses the Last-In-First-Out (LIFO) method of accounting for inventory and costs of goods sold which generally results in lower current net earnings during such periods of increasing costs and higher inflation. As a result, the above discussed higher input costs, primarily cocoa and chocolate, will have an increasingly adverse effects on our gross profit margins in the second half of this year.

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Second quarter and first half 2025 net earnings benefited from increased investment income from the Company's investments in marketable securities as well as insurance recoveries. The Company's effective income tax rates were 33.1% and 23.1% in second quarter 2025 and 2024 respectively, and 27.7% and 22.3% in first half 2025 and 2024, respectively. These higher effective tax rates in second quarter and first half 2025 principally reflect the adverse effect of certain deferred compensation that will not be deductible for income taxes when paid in future periods. Earnings per share did benefit from stock purchases in the open market over the preceding twelve months resulting in fewer shares outstanding in second quarter and first half 2025 compared to the corresponding periods in 2024.

Our operations and sales are principally in North America, and our cross border transactions with Canada and Mexico qualify under the USMCA free-trade agreement. Certain ingredients, including cocoa, chocolate and edible oils, as well as some packaging and other purchases, do have foreign origins outside of USMCA and the related higher tariffs on these purchases added to our costs in second quarter and first half 2025. Until such time that more clarity regarding tariffs, as well as possible retaliatory tariffs, is forthcoming, we are not able to ascertain the effects of tariffs on our business.

We are focused on the longer term and therefore are continuing to make investments in plant manufacturing operations to meet new customer and consumer product demands, achieve product quality improvements, expand capacity in certain product lines, and increase operational efficiencies in order to provide genuine value to consumers."

**Safe Harbor Statement**

This release contains forward-looking statements that are based largely on the Company's current expectations and are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "anticipated," "believe," "expect," "intend," "estimate," "project," "plan" and other words of similar meaning in connection with a discussion of future operating or financial performance and are subject to certain factors, risks, trends and uncertainties that could cause actual results and achievements to differ materially from those expressed in the forward-looking statements. Such factors, risks, trends and uncertainties, which in some instances are beyond the Company's control, include the effects of U.S. tariffs as well as retaliatory tariffs and other import fees and surcharges by other countries, the overall competitive environment in the Company's industry, the ability to recover increases in input costs and tariffs through price increases, successful distribution and sell-through during Halloween and other seasons, and changes in assumptions, judgments and risk factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2024.

The risk factors referred to above are believed to be significant factors, but not necessarily all of the significant factors that could cause actual results to differ from those expressed in any forward-looking statement. Readers are cautioned not to place undue reliance on such forward-looking statements, which are made only as of the date of this report. The Company undertakes no obligation to update such forward-looking statements.

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**TOOTSIE ROLL INDUSTRIES, INC.**

**CONSOLIDATED SUMMARY OF SALES & EARNINGS**

**FOR THE PERIODS ENDED**

**June 30, 2025 and 2024**

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| | | |
|:---|:---|:---|
|  | **Second Quarter Ended** | **Second Quarter Ended** |
|  | **2025** | **2024** |
| Net Sales | $153190000 | $148819000  |
| Net Earnings | $17544000 | $15640000  |
| Net Earnings Per Share\* | $0.24  | $0.21  |
| Average Shares Outstanding\* | 72879000  | 73536000  |

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| | | |
|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** |
|  | **2025** | **2024** |
| Net Sales | $299711000 | $300283000  |
| Net Earnings | $35602000  | $31474000  |
| Net Earnings Per Share\* | $0.49  | $0.43  |
| Average Shares Outstanding\* | 72923000  | 73536000  |

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**\*** Based on average shares outstanding adjusted for 3% stock dividends distributed April 4, 2025 and April 5, 2024.

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