Utz Brands Inc Stock Price, News & Analysis

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.

Utz Brands, Inc. (NYSE:UTZ) announced an annual dividend increase from $0.20 to $0.216 per share, effective immediately. A quarterly cash dividend of approximately $0.054 per share will be paid on January 10, 2022, to shareholders on record by December 20, 2021. This decision reflects the company's growth since its IPO in 2020, with funding from distributions by Utz Brands Holdings. Future dividends will depend on the Board's discretion, considering operational results and financial condition.

Utz Brands, Inc. reported strong retail sales trends for the periods ending October 31 and November 28, 2021. Retail sales increased by 8.7% in the 4-week period ending October 31, and 7.7% in the 12-week period compared to the previous year. For the November period, sales soared 10.9% and 9.7% respectively. The report aims to correct previous underreporting of sales data attributed to missing new items. This positive trend indicates robust consumer demand for Utz's snack products.

Utz Brands, Inc. (NYSE: UTZ) has acquired RW Garcia Holdings, LLC for $56 million, funded through cash and credit facilities. This acquisition is expected to enhance Utz's market position and contribute positively to earnings from fiscal 2022 onward. RW Garcia specializes in high-quality, organic tortilla chips and snacks, aligning with Utz's portfolio. The addition of RW Garcia also strengthens Utz's production capabilities across the U.S., benefitting from RW Garcia's facilities in Nevada and North Carolina.

Utz Brands, Inc. (NYSE: UTZ) reported fiscal Q3 2021 results with net sales of $312.7 million, a 26.1% increase year-over-year. Strong retail sales growth was driven by Power Brands, which accounted for 87% of total sales. Adjusted net income rose 40.7% to $25.6 million, despite higher commodity and labor inflation affecting margins. The company anticipates continued inflation challenges but remains confident in long-term growth strategies. Utz expects modest organic sales growth for fiscal 2021, reaffirming its Adjusted Earnings Per Share guidance of $0.55 – $0.60.

Utz Brands, Inc. (NYSE: UTZ) announces the appointment of Chad Whyte as Senior VP of Supply Chain Planning and Logistics, effective January 3, 2022. With 25 years of supply chain experience, Whyte aims to enhance the company's supply chain network and productivity in response to increased consumer demand.

His previous role as President of Aloe Group involved collaboration with Utz on supply chain initiatives. Brian Greth transitions to SVP of Enterprise Integration, focusing on M&A integration.