Utz Brands Reports First Quarter 2024 Results
Utz Brands Inc Class A (UTZ)
Company Research
Source: Business Wire
HANOVER, Pa.--(BUSINESS WIRE)--Utz Brands, Inc. (NYSE: UTZ) (“Utz” or the “Company”), a leading U.S. manufacturer of branded salty snacks and a small-cap growth and value Staples equity, today reported financial results for the Company’s fiscal first quarter ended March 31, 2024.1Q’24 Summary(1)Net sales of $346.5 millionOrganic Net Sales increased 1.5%Gross Profit Margin expansion of 480 bpsAdjusted Gross Margin expansion of 280 bpsNet income of $2.4 million vs. net loss of $(14.5) millionAdjusted EBITDA increased 7.4% to $43.4 millionBasis loss per share of $(0.05)Adjusted Earnings per share increased 27.3% to $0.14FY’24 OutlookReaffirming Organic Net Sales and Adjusted EBITDA outlookRaising Adjusted Earnings per Share outlookRecent DevelopmentsOn April 17, 2024 completed repricing of $630 million Term Loan due in January 2028 (“Term Loan”) resulting in a lower interest rateOn April 22, 2024 completed disposition of two manufacturing facilities for total consideration of $18.5 m
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UTZ
Earnings
- 5/2/24 - Beat
UTZ
Sec Filings
- 5/7/24 - Form 4
- 5/7/24 - Form 4
- 5/7/24 - Form 4
- UTZ's page on the SEC website