Welcome to our dedicated page for Utz Brands news (Ticker: UTZ), a resource for investors and traders seeking the latest updates and insights on Utz Brands stock.
Utz Brands, Inc. reports news as a U.S. manufacturer of branded salty snacks sold through grocery, mass merchandiser, club, convenience, drug and other retail channels. Its portfolio includes Utz, On The Border Chips & Dips, Zapp’s and Boulder Canyon, with products such as potato chips, tortilla chips, pretzels, cheese snacks, party mixes, pork skins, popcorn, salsa and dips.
Company updates commonly cover quarterly results, guidance, cash flow, leverage, dividends and share repurchase activity. Other recurring developments include product launches across core snack brands, marketing and industry conference presentations, distribution and manufacturing updates, and food-safety actions such as voluntary recalls handled through Utz Quality Foods.
Utz Brands, Inc. (NYSE:UTZ) has declared a quarterly cash dividend of approximately $0.057 per share on its Class A Common Stock. This payment will be made on May 4, 2023, to stockholders of record as of April 17, 2023. The cash dividend will be financed through cash distributions from Utz Brands Holdings to Utz and other holders of its common units. Future dividends will depend on the Board's evaluations of the company's operational results and financial condition. Utz Brands manufactures various popular snack brands, showcasing a commitment to quality and consumer satisfaction, with multiple facilities across the U.S.
Utz Brands reported financial results for Q4 and FY 2022. Q4 net sales rose 17.9% to $354.7 million, primarily driven by a 15.9% increase in organic sales. Gross profit margin improved to 32.5% from 30.1% year-over-year, with adjusted gross profit margin at 36.6%. The company achieved a net income of $13.8 million, rebounding from a loss of $(16.2 million) in the prior year. FY 2022 net sales increased 19.3% to $1.4 billion, but net loss was $(14 million) compared to $8 million in FY 2021. For FY 2023, Utz anticipates organic net sales growth of 4% to 6%.
Utz Brands, Inc. (NYSE: UTZ), a leading U.S. manufacturer of branded salty snacks, will report its fourth quarter and full year 2022 financial results on March 2, 2023, before market open. A conference call and webcast with the executive management team will take place at 8:30 a.m. Eastern Time to discuss these results. Investors can access the live webcast and presentation through Utz's Investor Relations website. Utz offers a diverse portfolio of snacks, including brands like Utz®, On The Border®, and Zapp’s®. The company is based in Hanover, Pennsylvania, and has multiple manufacturing facilities across the U.S.
Utz Brands, Inc. (NYSE: UTZ) has announced an annual dividend increase from $0.216 to $0.228 per share. The quarterly cash dividend of approximately $0.057 per share is effective immediately and will be paid on January 5, 2023, to stockholders of record by December 19, 2022. This dividend is supported by Utz's growth since its IPO in 2020, with future dividends subject to the Board's discretion based on various financial factors.
Utz Brands, Inc. (NYSE: UTZ) reported a 16.0% increase in net sales to $362.8 million for 3Q'22, driven by 12.6% organic growth. Despite this, GAAP net income fell to $1.5 million from $31.4 million in the prior year, primarily due to a loss on warrant liability. Adjusted EBITDA rose 6.5% to $47.7 million. The company raised its full-year sales outlook to 17-19% growth, benefiting from inflation-justified pricing actions. The effective tax rate is projected at 20%, with net leverage remaining at 5.0x.
Utz Brands, Inc. (NYSE: UTZ), a top U.S. manufacturer of salty snacks, is set to present at the Stephens Annual Investment Conference in Nashville, TN, on November 16, 2022, at 9:00 a.m. CT. The live audio webcast can be accessed via their investor relations website. Utz offers a diverse lineup of popular snack brands including Utz®, On The Border®, and Golden Flake®, and emphasizes high-quality ingredients and strong family heritage. For more details, visit www.utzsnacks.com.
Utz Brands, Inc. (NYSE: UTZ) plans to report its third quarter 2022 financial results on November 10, 2022, before market open. The company will host a conference call at 8:30 a.m. Eastern Time to discuss the results. Utz, a leading U.S. manufacturer of branded salty snacks, produces popular brands including Utz®, Golden Flake®, and Zapp’s®. The company is based in Hanover, Pennsylvania, and operates multiple manufacturing facilities across the U.S.
Utz Brands, Inc. (NYSE: UTZ) has expanded its snack food offerings to all 112 Schnucks stores across Missouri, Illinois, Indiana, and Wisconsin. The product range includes popular items like Utz® Potato Chips, On The Border® Tortilla Chips, and Zapp's® Kettle Style Chips. The initial introduction was a success, driving strong consumer demand, highlighted by the statement from EVP, Sales, Mark Schreiber. Utz aims to enhance regional availability and reach more Midwest consumers with its diverse snack lineup.
Utz Brands, Inc. (NYSE: UTZ) announced a new real estate senior secured term loan of $88.14 million through its subsidiaries, aimed at enhancing financial flexibility. The loan will be secured by 17 real estate assets, including manufacturing sites and warehouses, and will be used to fully repay the outstanding balance of UQF's revolving credit facility. The transaction raises liquidity to approximately $188 million and offers a fixed interest rate around 6% for a 10-year term, supporting Utz's growth amid rising interest rates.
Utz Brands has launched its new product line, Zapp's Sinfully-Seasoned Pretzel Stix, expanding beyond its popular potato chips. The pretzel stix are available in two bold flavors: Voodoo™ and Jazzy Honey Mustard, in both 5-ounce and 16-ounce packages. Zapp's aims to offer daring flavors inspired by New Orleans cuisine, with Voodoo being a fan favorite. The product will be available in leading U.S. retailers as part of their strategy to diversify the snack offerings and capitalize on the growing snack market.