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Utz Brands Reports Fourth Quarter and Full Year 2022 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, today reported financial results for the Company’s fiscal fourth quarter and full year ended January 1, 2023.4Q’22 Summary:Net sales increased 17.9% year-over-year to $354.7 millionOrganic Net Sales increased 15.9% year-over-yearGross profit margin expanded to 32.5% vs. 30.1% in the year-ago periodAdjusted Gross Profit Margin expanded to 36.6% vs. 34.4% in the year-ago periodNet income of $13.8 million vs. a net loss of $(16.2) million in the year-ago periodAdjusted EBITDA increased 17.0% year-over-year to $44.1 millionFY’22 Summary:Net sales increased 19.3% year-over-year to $1,408.4 millionOrganic Net Sales increased 15.5% year-over-yearNet loss of $(14.0) million vs. net income of $8.0 million in the year-ago periodAdjusted EBITDA increased 9.2% year-over-year to $170.5 millionFY’23 Outlook Highlights:Utz expects Organic Net Sales growth of Show less Read more
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