Utz Brands Inc Stock Price, News & Analysis

Utz Brands, Inc. (NYSE:UTZ) announced a quarterly cash dividend of $0.054 per share on its Class A Common Stock, payable on July 7, 2022, to stockholders of record by June 20, 2022. The dividend will be funded by cash distributions from Utz Brands Holdings to Utz and other common unit holders. Future dividends will depend on the Board's discretion and are influenced by the Company's financial health and operational results.

RW Garcia, an artisan snack brand, has announced the launch of three organic cracker varieties at select Whole Foods Market stores starting May 2022. The crackers include Organic Sweet Potato, Organic Everything, and Organic Lentil with Turmeric, all made with high-quality, Non-GMO ingredients. The products are gluten-free, cholesterol-free, and produced in nut-free facilities. This expansion is part of RW Garcia's strategy to broaden market reach following its recent acquisition by Utz Brands.

Utz Brands, Inc. is launching two new limited-time-only potato chip offerings: Classic Dill Pickle flavored chips in partnership with Grillo's Pickles and Utz Ripple potato chips coated with Cheddar Cheese Balls flavor. These products cater to the growing demand for pickle-flavored snacks, which grew by over 100% in the last year. The Dill Pickle chips come in 2.625 oz and 7.75 oz sizes. The collaboration aims to deliver bold flavors, and the products are available now through major U.S. retailers and online.

Utz Brands, Inc. (NYSE:UTZ) will present at the Goldman Sachs Global Staples Forum on May 17, 2022, at 3:15 p.m. ET. Investors and media can tune in to the live audio webcast available at https://investors.utzsnacks.com/. Known for its diverse range of branded snack products, Utz's offerings include popular names like Utz®, ON THE BORDER®, and Golden Flake®. The company operates 18 facilities across several states, ensuring national distribution through various retail channels.

Utz Brands, a leading manufacturer of salty snacks, reported a 26.6% increase in net sales to $340.8 million for Q1 2022, driven by a 20.7% rise in organic net sales. However, the company faced a GAAP net loss of $(31.9) million, worsening from $(23.3) million year-over-year, primarily due to $23.0 million in contract termination costs. Adjusted EBITDA decreased to $36.5 million. Despite challenges, Utz raised its full-year net sales outlook from 7-10% to 10-13%, expressing confidence in consumer demand and productivity programs to combat inflation.

Utz Brands, Inc. (NYSE: UTZ) has announced the purchase of a new snack food manufacturing facility in Kings Mountain, North Carolina. This acquisition, costing approximately $38.4 million, will support the growing demand for Utz's products, which saw regional sales increases of up to 15%.

The facility, initially 125,000 square feet with potential for expansion, is expected to create over 115 local jobs and enhance operational efficiency. The company anticipates positive financial impacts within 12-18 months due to cost synergies.

Utz Brands, Inc. (NYSE: UTZ) announced plans to report its first quarter 2022 financial results on May 12, 2022, before market open. A conference call with the executive team will follow at 8:30 a.m. Eastern Time. Investors can access the live webcast and replay through the company’s Investor Relations website. Utz is a leading U.S. manufacturer of branded salty snacks, operating 17 facilities across various states. The company is committed to delivering high-quality snacks and engaging with investors through multiple communication channels.

Grillo's Pickles has teamed up with Utz to launch limited edition Classic Dill Pickle flavored potato chips. This collaboration aims to blend the flavors of Grillo's pickles with Utz's crisps, appealing to snack enthusiasts. Available at leading retailers, the chips come in two sizes—2.625 oz and 7.75 oz—priced at $2.19 and $4.29, respectively. This is the first collaboration between the brands, with both expressing excitement about satisfying their loyal customer base. The chips are positioned as a crunchy and delicious snack for pickle lovers.

Utz Brands, Inc. (NYSE:UTZ) has declared a quarterly cash dividend of $0.054 per share on its Class A Common Stock. This payment is set for April 28, 2022, for shareholders on record as of April 18, 2022. The dividend will be financed through cash distributions from Utz Brands Holdings to its common unit holders. Future dividends will depend on the Board's evaluation of financial performance and other relevant factors.