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 (NYSE: UTZ) delivers authentic snack experiences through its portfolio of iconic salty snack brands. This news hub provides investors and industry followers with direct access to the company's official announcements and market-moving developments.
Track UTZ's financial performance, operational milestones, and strategic initiatives through verified press releases and curated news analysis. Our aggregation includes earnings reports, product innovation announcements, manufacturing expansions, leadership updates, and sustainability efforts relevant to the snack foods sector.
Key areas of coverage include quarterly financial disclosures, retail partnership developments, supply chain enhancements, and brand portfolio updates. This resource eliminates the need to monitor multiple sources by providing organized, chronological access to UTZ's corporate communications.
Bookmark this page for efficient tracking of UTZ's market position through primary source materials. Check regularly for updates on operational developments that may impact investment research or industry analysis within the competitive consumer packaged goods landscape.
Utz Brands has partnered with Ferrara to launch new snack food variety packs, catering to consumer demand for sweet and salty options. This collaboration aims to introduce competitively priced packs, ranging from $4.99 to $12.99, filled with snacks such as cookies, pretzels, and popcorn. Research indicates over 60% of consumers prefer these mixed varieties, yet only 16% of current offerings include them. The joint effort is expected to enhance Utz's market presence, with tens of millions of packages distributed across the U.S.
Utz Brands is partnering with Breeze Airways to serve Utz Original Potato Chips on flights. This collaboration marks a significant milestone as Utz celebrates its 100th anniversary, showcasing its commitment to quality with simple ingredients since 1921. Breeze Airways, founded by JetBlue's David Neeleman, offers 39 nonstop routes across the U.S. CEO Dylan Lissette expressed excitement for the partnership, highlighting it as a perfect match for the airline's offerings. Utz products are available in various retail locations and onboard Breeze flights.
The Utz Brand has launched its latest innovation, the Utz Twisterz Seasoned Mini Pretzels, featuring flavors like Zesty Cheddar and Tangy Mustard. This new product comes in a 21 oz barrel that preserves freshness. Consumer demand for flavored pretzels has surged nearly 30% over the past year, according to IRI. Utz aims to capitalize on this trend as a leader in pretzel sales. The pretzels will be available in stores and online from June 7. CEO Dylan Lissette highlighted the company's growth strategy through innovation and acquisitions.
Utz Brands, a leading U.S. salty snack manufacturer, reported Q1 2021 financial results, showing net sales of $269.2 million, an 18% increase year-over-year. However, pro forma net sales decreased 2.2%. Gross profit reached $95.2 million with an adjusted gross profit margin of 38.8%. The company faced a net loss of $23.3 million due to factors like warrant remeasurement and increased depreciation. Despite these challenges, adjusted EBITDA grew 29.8% to $37.9 million. Utz reaffirms its full-year outlook, targeting net sales of $1.16 billion with modest growth.
Utz Brands, Inc. (NYSE:UTZ) has signed a definitive agreement to acquire all assets of Festida Foods for $41 million. Festida is a leading manufacturer of tortilla chips and mainly supplies Utz's ON THE BORDER brand. This acquisition is valued at approximately 6.0x Festida's fiscal 2020 Adjusted EBITDA of $6 million, decreasing to 5.1x when accounting for expected synergies. The deal is anticipated to enhance supply chain efficiency and is expected to be accretive to Utz’s earnings from 2021 onward, with an expected completion in Q2 2021.
Utz Brands, Inc. (NYSE:UTZ) has announced the adjournment of its virtual annual meeting of stockholders to May 20, 2021, allowing time to review the amended 2020 Annual Report, which will reflect the reclassification of certain warrants as liabilities per SEC guidelines. Stockholders of record as of March 15, 2021, are entitled to vote. The Company is committed to providing similar rights at this virtual meeting as in-person meetings. Further details are available in the proxy materials and the investor relations website.
Utz Brands, Inc. (NYSE: UTZ) will report its first quarter 2021 financial results on May 13, 2021, before market open.
The company will hold a conference call and webcast at 8:30 a.m. ET to discuss the results. Interested parties can access the live webcast via Utz’s Investor Relations website.
The company, known for its diverse portfolio of savory snacks, operates 14 facilities across multiple states and emphasizes high-quality ingredients. For more updates, refer to Utz's investor relations pages.
The TORTIYAHS!® Brand is gearing up for Cinco De Mayo with its popular tortilla chips, which are a family favorite. This holiday significantly boosts sales for tortilla chips, salsas, and dips. TORTIYAHS! has experienced an impressive average yearly growth rate of nearly 200% from 2015 to 2020, according to IRI data. This growth positions the brand to be a highlight of Cinco De Mayo celebrations, driving strong sales and consumer engagement.
Utz Brands, Inc. (NYSE:UTZ) has declared a quarterly cash dividend of approximately $0.05 per share on its Class A Common Stock. Payment is scheduled for May 10, 2021, to stockholders of record as of April 19, 2021. This dividend will be funded by cash distributions from Utz Brands Holdings to Utz and its other common unit holders. Future dividends will depend on the Board of Directors' assessment of various factors including operational results and financial condition.
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