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Stock impact report

Utz Brands Reports First Quarter 2024 Results [Yahoo! Finance]

Utz Brands Inc Class A (UTZ) 
Company Research Source: Yahoo! Finance
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 Net sales of $346.5 million Organic Net Sales increased 1.5% Gross Profit Margin expansion of 480 bps Adjusted Gross Margin expansion of 280 bps Net income of $2.4 million vs. net loss of $(14.5) million Adjusted EBITDA increased 7.4% to $43.4 million Basis loss per share of $(0.05) Adjusted Earnings per share increased 27.3% to $0.14 FY'24 Outlook Reaffirming Organic Net Sales and Adjusted EBITDA outlook Raising Adjusted Earnings per Share outlook Recent Developments On April 17, 2024 completed repricing of $630 million Term Loan due in January 2028 ("Term Loan") resulting in a lower interest rate On April 22, 2024 completed disposition of two manufacturing facilities for total consideration of $18.5 million, subject to customary adjustments Disposition and repricing transactions help furthe Show less Read more
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