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, 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.
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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.
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