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) reported a 17.5% increase in net sales for Q2 2022, totaling $350.1 million, driven by a 13.6% growth in organic net sales. Adjusted EBITDA rose 18.2% to $42.2 million, though GAAP net income decreased to $2.5 million from $16.2 million year-over-year. The company has raised its full-year sales outlook, now projecting 13-15% net sales growth and 2-5% growth in Adjusted EBITDA. Cost inflation remains a challenge, but pricing strategies are expected to mitigate its impact.
Utz Brands, Inc. (NYSE: UTZ) announced plans to report its second quarter 2022 financial results on August 11, 2022, before market open. The company will host a conference call at 8:30 a.m. ET to discuss these results, accessible via their Investor Relations website. Utz is known for its diverse portfolio of savory snacks and operates multiple manufacturing facilities across the U.S. The company's commitment to quality ingredients and consumer satisfaction remains a focal point as it prepares for the upcoming earnings announcement.
Utz Brands, Inc. (NYSE: UTZ) has announced promotions in its Executive Leadership Team, reinforcing their commitment to enhancing manufacturing and supply chain operations. Shannan Redcay has been appointed Executive Vice President of Manufacturing, continuing her role in driving transformation and efficiency since joining in 2015. Chad Whyte is now Executive Vice President of Supply Chain, overseeing logistics and procurement. These changes, effective June 21, 2022, aim to support Utz's growth during a period of increased consumer demand, highlighted by the addition of over five million new consumers during the pandemic.
Utz Brands, Inc. (NYSE: UTZ) has expanded its distribution by introducing its products, including Utz®, On The Border®, Zapp's®, and Golden Flake®, to nearly 1,300 Publix stores across the Southeast. This initiative aims to meet the growing demand for their snacks in Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Virginia. CEO Dylan Lissette emphasizes the importance of this expansion for reaching more consumers and enhancing brand visibility. The company continues its legacy of providing high-quality snack foods since its inception in 1921.
Utz Brands, Inc. (NYSE:UTZ) will present at the Oppenheimer 22nd Annual Consumer Growth and E-Commerce Virtual Conference on June 14, 2022, at 3:00 p.m. ET. The presentation is accessible via a live audio webcast at utzsnacks.com. Known for its diverse portfolio of savory snacks, including Utz®, ON THE BORDER®, and Zapp’s®, Utz continues to delight consumers with quality products distributed through various retail channels. The company is based in Hanover, Pennsylvania, and has multiple manufacturing facilities across the U.S.
Utz Brands, Inc. (NYSE:UTZ) announced a quarterly cash dividend of $0.054 per share on its Class A Common Stock, payable on July 7, 2022, to stockholders of record by June 20, 2022. The dividend will be funded by cash distributions from Utz Brands Holdings to Utz and other common unit holders. Future dividends will depend on the Board's discretion and are influenced by the Company's financial health and operational results.
RW Garcia, an artisan snack brand, has announced the launch of three organic cracker varieties at select Whole Foods Market stores starting May 2022. The crackers include Organic Sweet Potato, Organic Everything, and Organic Lentil with Turmeric, all made with high-quality, Non-GMO ingredients. The products are gluten-free, cholesterol-free, and produced in nut-free facilities. This expansion is part of RW Garcia's strategy to broaden market reach following its recent acquisition by Utz Brands.
Utz Brands, Inc. is launching two new limited-time-only potato chip offerings: Classic Dill Pickle flavored chips in partnership with Grillo's Pickles and Utz Ripple potato chips coated with Cheddar Cheese Balls flavor. These products cater to the growing demand for pickle-flavored snacks, which grew by over 100% in the last year. The Dill Pickle chips come in 2.625 oz and 7.75 oz sizes. The collaboration aims to deliver bold flavors, and the products are available now through major U.S. retailers and online.
Utz Brands, Inc. (NYSE:UTZ) will present at the Goldman Sachs Global Staples Forum on May 17, 2022, at 3:15 p.m. ET. Investors and media can tune in to the live audio webcast available at https://investors.utzsnacks.com/. Known for its diverse range of branded snack products, Utz's offerings include popular names like Utz®, ON THE BORDER®, and Golden Flake®. The company operates 18 facilities across several states, ensuring national distribution through various retail channels.
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.