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 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.
Utz Brands, Inc. (NYSE: UTZ) announces a leadership transition as CEO Dylan Lissette moves to Executive Chairman effective December 15, 2022. Howard Friedman, COO of Post Holdings, will take over as CEO. The change aims to support Utz’s growth strategy as a public company, enhancing its market position. During Lissette's tenure, sales nearly tripled to over $1.3 billion, alongside successful acquisitions. The company reaffirms its fiscal year 2022 outlook, expecting 13-15% net sales growth and 10-12% organic growth.
Utz Brands, Inc. announces a partnership with Keebler and Mother's to launch grab & go variety multipacks, featuring snacks like Fudge Stripes™ and Cheese Balls. This collaboration is aimed at leveraging the growing demand for snack variety, combining the strengths of three iconic brands. The multipacks are competitively priced and available in counts ranging from 12 to 40, with many distributed through major retailers and online. This strategic alliance is expected to enhance consumer reach and offer a convenient solution for snack lovers.
Utz Brands Inc. has announced a partnership with Yellowbird Foods to introduce a limited-time product, the Boulder Batch Yellowbird Habanero kettle-style potato chips. Combining Boulder Canyon's signature kettle chips cooked in avocado oil with Yellowbird's Habanero Condiment, these chips deliver a unique spicy flavor. Available for a limited time in leading U.S. retailers and online, the product features all-natural, Non-GMO, Vegan, and Gluten-Free ingredients. The collaboration aligns with Utz's commitment to creating better-for-you snacks. Visit BoulderCanyon.com for more information.