Utz Brands Inc Stock Price, News & Analysis

Utz Brands, Inc. (NYSE: UTZ) is unveiling new snack foods from its healthier portfolio at the Natural Products Expo West from March 10-12 in Anaheim, California. Attendees can sample innovative products like Boulder Canyon's Jalapeño flavored Potato Chips and Good Health's White Cheddar ABC Bites. Both snacks are non-GMO and gluten-free, aligning with the growing demand for healthier options. These products will be available across leading retailers in the U.S. and online at Utzsnacks.com.

Utz Brands, Inc. (NYSE: UTZ) reported strong financial results for the fiscal fourth quarter and full-year ended January 2, 2022. Net sales increased by 22.2% to $300.9 million in Q4 and 22.4% to $1.18 billion for the full year. Adjusted Gross Profit rose by 14.1% year-over-year, reaching $103.3 million in Q4. However, net income experienced a loss of $16.2 million, an improvement from a $87.5 million loss last year. For FY2022, the company anticipates net sales growth of 7-10% despite ongoing inflation pressures.

Utz Brands, Inc. (NYSE: UTZ), a leader in the U.S. salty snack market, will report its fourth quarter and full year 2021 financial results on March 3, 2022, before market open. A conference call will be held at 8:30 a.m. Eastern Time to discuss the results. Investors can access the webcast via Utz's Investor Relations website. The company offers a range of popular snack brands and operates 17 facilities across several states. For more details, visit Utz's Investor Relations.

Utz Brands, Inc. (NYSE: UTZ) announced the appointment of Satyaki Lodh as Senior Vice President and Chief Information Officer. Mr. Lodh, with over 30 years of IT experience and a focus on the Food & Beverage industry, will lead the IT organization to enhance technology infrastructure and insights as Utz expands nationally. He will report to Ajay Kataria, Executive Vice President and CFO. Lodh previously held key positions, including CIO at Borden Dairy and VP at Snyder’s-Lance, contributing significantly to IT operations and DSD systems.

Utz Brands, Inc. (NYSE: UTZ) has completed the acquisition of assets from two direct store delivery distributors, Clem Snacks, Inc. and J&D Snacks, Inc. This strategic move consolidates over 125 DSD routes in the New York City area, enhancing Utz's distribution capabilities. The acquisition is financed through balance sheet cash and a revolving credit facility, with a negligible impact on the company's net leverage ratio. Utz anticipates the transaction will be accretive to earnings starting in fiscal 2022, which aligns with its strategy to increase market share in the salty snack category.

Utz Brands, Inc. (NYSE: UTZ) announced the acquisition of Clem Snacks, Inc. and J&D Snacks, Inc., expanding its direct store delivery capabilities in New York City and Long Island. This strategic move adds 125 DSD routes, enhancing Utz's market presence and supporting its growth in the salty snack category. The transaction is expected to close in Q1 2022, with funding sourced from balance sheet cash and revolving credit facilities. Although financial terms were not disclosed, Utz aims to bolster retailer support and service efficiency in a vibrant market.

Utz Brands, Inc. (NYSE: UTZ) reported strong retail sales growth for the 4-week and 12-week periods ending December 26, 2021. Retail sales rose 14.2% year-over-year for the 4-week period, and 11.2% for the 12-week period compared to the previous year. On a two-year CAGR basis, sales increased 11.2% and 10.5%, respectively. The update corrects prior data inaccuracies related to new items.

Utz Brands, Inc. (NYSE: UTZ) announced the appointment of Pamela Stewart as a Director on its Board of Directors. She will also serve on the Compensation Committee, bringing over 20 years of experience in the consumer-packaged goods sector from her role at Coca-Cola. Chairman Roger Deromedi expressed excitement about her strategic contributions aimed at enhancing shareholder value. Stewart is set to leverage her extensive background in finance, sales, and operations during a pivotal time as Utz marks its 100-year anniversary in the snack food industry.