Core Viewpoint - Utz Brands reported quarterly earnings of $0.22 per share, exceeding the Zacks Consensus Estimate of $0.19 per share, and showing an increase from $0.16 per share a year ago, indicating a 15.79% earnings surprise [1][2] Financial Performance - The company posted revenues of $341.05 million for the quarter ended December 2024, which was 1.66% below the Zacks Consensus Estimate and a decrease from $352.1 million in the same quarter last year [2] - Over the last four quarters, Utz Brands has surpassed consensus EPS estimates three times but has only topped revenue estimates once [2] Stock Performance - Utz Brands shares have declined approximately 14% since the beginning of the year, contrasting with a 4.5% gain in the S&P 500 [3] - The current Zacks Rank for Utz Brands is 4 (Sell), indicating expectations of underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.16 on revenues of $349.3 million, and for the current fiscal year, it is $0.82 on revenues of $1.45 billion [7] - The trend of estimate revisions for Utz Brands has been unfavorable leading up to the earnings release [6] Industry Context - The Food - Miscellaneous industry, to which Utz Brands belongs, is currently ranked in the bottom 28% of over 250 Zacks industries, suggesting potential challenges for stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact investor sentiment [5]

Financial Performance - Fourth quarter net sales were $341.0 million, a decrease of 3.2% compared to $352.1 million in the prior year, impacted by the divestiture of R.W. Garcia® and Good Health® brands [8]. - Organic net sales were flat, with branded salty snacks increasing by 2.9%, while non-branded and non-salty snacks declined by 18.2% [8]. - Adjusted EBITDA increased by 7.5% to $53.1 million, representing 15.6% of net sales, driven by gross margin expansion [12]. - Adjusted net income rose by 41.5% to $32.4 million, with adjusted earnings per share increasing by 37.5% to $0.22 [11]. - For the fiscal year ended December 29, 2024, net sales were $1,409,281,000, a decrease of 2.0% from $1,438,237,000 in 2023 [42]. - The fiscal year 2024 gross profit increased to $494,777,000, up 8.4% from $456,486,000 in 2023 [42]. - Net income attributable to controlling interest for the fiscal year ended December 29, 2024, was $15,974,000, compared to a net loss of $24,937,000 in 2023 [42]. - Net income improved to $30,737 thousand for the fiscal year ended December 29, 2024, compared to a net loss of $40,032 thousand for the fiscal year ended December 31, 2023 [46]. - Reported net sales for the 52 weeks ended December 29, 2024, were $1,409.3 million, a decrease of 2.0% from $1,438.2 million in 2023 [47]. - Organic net sales for the 52 weeks ended December 29, 2024, increased by 1.3% to $1,411.3 million compared to $1,393.7 million in 2023 [47]. - Gross profit for the 52 weeks ended December 29, 2024, was $494.8 million, up from $456.5 million in 2023, reflecting a gross profit margin increase from 31.7% to 35.1% [50]. Liquidity and Debt - Total liquidity as of December 29, 2024, was $214.8 million, with net debt of $727.3 million and a net leverage ratio of 3.6x [14]. - Total current liabilities rose to $285,270 thousand as of December 29, 2024, compared to $230,686 thousand as of December 31, 2023, an increase of 23.6% [45]. - Cash and cash equivalents at the end of the period increased to $56,138 thousand from $52,023 thousand, marking an increase of 7.5% [46]. - Total Net Debt as of December 29, 2024, is $727.3 million, with a Gross Debt of $783.4 million [59]. - The Net Leverage Ratio stands at 3.6x based on a Normalized Adjusted EBITDA of $200.2 million [59][60]. - Cash and Cash Equivalents as of December 29, 2024, are $56.1 million, providing liquidity against total debt [59]. Expenses and Costs - Selling, distribution, and administrative expenses for the thirteen weeks ended December 29, 2024, totaled $111,711,000, an increase from $107,076,000 in 2023 [40]. - Adjusted Selling, Distribution, and Administrative Expense for the 13 weeks ended December 29, 2024, was $81.6 million, compared to $81.3 million for the same period in 2023, representing an increase of 0.4% [51]. - Total Depreciation and Amortization for the 52 weeks ended December 29, 2024, was $70.9 million, down from $79.5 million in the same period of 2023 [53]. - Acquisition, Divestiture, and Integration Costs for the fiscal year ended December 29, 2024, amounted to $20.9 million, compared to $9.7 million for the previous fiscal year [61]. - Business Transformation Initiatives incurred costs of $28.1 million for the fiscal year ended December 29, 2024, down from $31.0 million in the prior year [61]. Gains and Losses - The company reported a gain on the sale of business amounting to $44,015,000 for the fiscal year ended December 29, 2024 [42]. - A gain of $44.0 million was recorded related to the Good Health and R.W. Garcia Sale for the fiscal year ended December 29, 2024 [61]. - The company recorded a non-cash loss on sale of $13.7 million related to fixed assets for the sale of the Bluffton, Indiana plant for the fiscal year ended December 31, 2023 [56]. Future Outlook - For fiscal year 2025, the company expects low-single digit organic net sales growth and adjusted EBITDA growth of 6% to 10% [19]. - The effective tax rate for fiscal year 2025 is expected to be in the range of 17% to 19% [19]. - Capital expenditures for the fiscal year 2025 are projected to be between $90 million and $100 million, focusing on increasing manufacturing capacity [19].

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Utz Brands (UTZ) came out with quarterly earnings of $0.21 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.17 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company would post earnings of $0.17 per share when it actually produced earnings of $0.19, delivering a surprise of 11.76%.Over the last four quarters, the company has surpassed consensus EPS estimates two times.Utz Brands, which belongs to the Zack ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 29, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Utz Brands, Inc. (Exact name of registrant as specified in its charter) Delaware 001-38686 85-2751850 (State or other jurisdiction of incorporation) (Commission F ...

Utz Brands Reports Third Quarter 2024 Results and Reaffirms 2024 Outlook Hanover, PA – October 31, 2024 – Utz Brands, Inc. (NYSE: UTZ) ("Utz" or the "Company"), a leading U.S. manufacturer of branded Salty Snacks and a small-cap value Staples equity, today reported financial results for the Company's fiscal third quarter ended September 29, 2024. 3Q'24 Summary • Net Sales of $365.5 million • Organic Net Sales increased 1.9% • Gross Profit Margin expansion of 370bps • Adjusted Gross Profit Margin expansion o ...

Key Takeaways Utz lowered its organic net sales growth projection to between 2% and 2.5%. The chip and pretzel company said it expects consumers to be more value-conscious in the back half of 2024, creating a more competitive promotional environment. Utz's adjusted EPS projection remained unchanged, and near the Street's consensus. Utz Brands (UTZ) shares fell after the snack manufacturer dropped its full-year guidance. The company, known for its namesake chips along with a range of other chip and pretzel b ...

Shares of Utz Brands (UTZ) have gained 9.2% over the past four weeks to close the last trading session at $16.69, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $20.91 indicates a potential upside of 25.3%. The mean estimate comprises 11 short-term price targets with a standard deviation of $2.51. While the lowest estimate of $17 indicates a 1.9% increase from the current price ...

Utz Brands (UTZ) came out with quarterly earnings of $0.19 per share, beating the Zacks Consensus Estimate of $0.17 per share. This compares to earnings of $0.13 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 11.76%. A quarter ago, it was expected that this company would post earnings of $0.13 per share when it actually produced earnings of $0.14, delivering a surprise of 7.69%. Over the last four quarters, the company has su ...