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 ...

Financial Performance - For the thirteen weeks ended September 29, 2024, net sales were $365.5 million, a decrease of 1.8% compared to $371.9 million for the same period in 2023[57]. - The company reported a net income of $0.8 million for the thirteen weeks ended September 29, 2024, compared to a net income of $16.2 million for the same period in 2023, reflecting a significant decline[57]. - Net sales for the thirty-nine weeks ended September 29, 2024, were $1,068.2 million, a decrease of $17.9 million or 1.6% compared to $1,086.1 million for the same period in 2023[62]. - Net income for the thirteen weeks ended September 29, 2024, was $0.8 million, a decrease from $16.2 million for the same period in 2023[69]. - The company achieved a net income as a percentage of net sales of 0.2% for the thirteen weeks ended September 29, 2024, down from 4.4% in the prior year[69]. Gross Profit and Margins - Gross profit for the thirteen weeks ended September 29, 2024, was $131.0 million, representing a gross margin of 35.9%, an increase from $119.3 million and a gross margin of 32.1% in the prior year[57]. - Gross profit increased to $131.0 million for the thirteen weeks ended September 29, 2024, with a gross profit margin of 35.8%, up from 32.1% in the prior year[59]. - Gross profit for the thirty-nine weeks ended September 29, 2024, was $375.4 million, with a gross profit margin of 35.1%, up from 31.4% in the prior year[63]. Expenses - Selling, distribution, and administrative expenses rose to $110.0 million, an increase of $4.5 million or 4.3% compared to $105.5 million in the same period last year[60]. - Selling, distribution, and administrative expenses decreased to $324.1 million for the thirty-nine weeks ended September 29, 2024, a decrease of $2.0 million or 0.6% compared to $326.0 million in the prior year[63]. - The company incurred $8.1 million in business transformation initiatives for the thirteen weeks ended September 29, 2024, compared to $6.1 million in the prior year[71]. Debt and Financing - As of September 29, 2024, variable rate indebtedness was $713.3 million, down from $851.9 million at December 31, 2023, primarily due to a $141.0 million payment related to divestitures[51]. - The weighted average interest rate for the thirty-nine weeks ended September 29, 2024, was 5.7%, a slight decrease from 5.8% during the same period in 2023[51]. - Net cash used in financing activities was $155.2 million for the thirty-nine weeks ended September 29, 2024, primarily due to debt paydowns, compared to $24.5 million in the prior year[81]. - The company recorded a loss on debt extinguishment of $1.3 million related to the refinancing of its Term Loan B for the thirty-nine weeks ended September 29, 2024[74]. - As of September 29, 2024, $22.7 million was outstanding under the ABL facility, with $158.8 million available for borrowing[75]. Market and Operational Insights - The company operates 8 primary manufacturing facilities across the United States and distributes products through approximately 2,450 direct-store delivery routes[48]. - The U.S. salty snacks category is valued at $39 billion, with the company being the second-largest producer in its core geographies based on 2023 retail sales[49]. - The company experienced a 1.3% decrease in retail sales for salty snacks over the thirteen weeks ended September 29, 2024, compared to the prior year[49]. - Power Brands represented 79% of volume for the thirteen weeks ended September 29, 2024, with a volume increase of approximately 4%[58]. Other Financial Metrics - Other income increased to $2.3 million for the thirty-nine weeks ended September 29, 2024, compared to a loss of $26.1 million in the same period last year[65]. - Income tax expense for the thirty-nine weeks ended September 29, 2024, was $25.4 million, compared to a benefit of $(13.4) million in the prior year[66]. - Adjusted EBITDA for the thirty-nine weeks ended September 29, 2024, was $147.1 million, compared to $137.8 million for the same period in 2023, reflecting a year-over-year increase of 9.6%[69]. Compliance and Risk - The company remains in compliance with its financial covenants as of September 29, 2024[82]. - Market risk exposures have not changed materially since the filing of the Annual Report on Form 10-K for the year ended December 31, 2023[83]. - The Annual Report on Form 10-K was filed on February 29, 2024[83]. - For detailed quantitative and qualitative disclosures about market risk, refer to Item 7A of the Annual Report[83].

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 ...

Core Insights - The article compares Utz Brands (UTZ) and Celsius Holdings Inc. (CELH) to determine which stock offers better value for investors [1] - It emphasizes the importance of combining a strong Zacks Rank with favorable valuation metrics to identify value opportunities [2] Valuation Metrics - Utz Brands has a Zacks Rank of 2 (Buy), indicating a stronger earnings outlook compared to Celsius Holdings Inc., which has a Zacks Rank of 3 (Hold) [3] - Key valuation metrics for Utz include a forward P/E ratio of 22.92 and a PEG ratio of 1.13, while Celsius has a forward P/E of 53.71 and a PEG ratio of 1.65 [5] - Utz's P/B ratio is 1.67, significantly lower than Celsius's P/B ratio of 39.08, indicating a more attractive valuation for Utz [6] Conclusion - Overall, Utz Brands shows stronger estimate revision activity and more appealing valuation metrics, making it a superior option for value investors compared to Celsius Holdings Inc. [7]