Utz Brands Inc Stock Price, News & Analysis

Utz Brands, Inc. (NYSE: UTZ) has announced changes to its Executive Leadership Team (ELT) to drive future growth. Shane Chambers moves from CEO of the Truco/ON THE BORDER Division to Executive Vice President & Chief Growth Officer, while Mark Schreiber transitions to Executive Vice President of Sales & Chief Customer Officer. These changes aim to enhance marketing, innovation, and strategic growth initiatives. CEO Dylan Lissette emphasized the importance of these updates in sustaining Utz's sales momentum and fostering long-term success.

Utz Brands, Inc. (NYSE:UTZ) has declared a quarterly cash dividend of $0.05 per share on its Class A Common Stock, set to be paid on July 12, 2021, to stockholders of record as of June 21, 2021. This dividend will be financed through cash distributions from Utz Brands Holdings, LLC. Future dividends will be determined at the discretion of Utz’s Board of Directors, considering various operational and financial factors. Utz operates several facilities across the U.S., producing a variety of savory snacks.

Utz Brands (NYSE:UTZ), a top U.S. snack producer, will present at two upcoming conferences: the Oppenheimer 21st Annual Consumer Growth and E-Commerce Conference on June 16, 2021, and the Jefferies Consumer Conference on June 22, 2021. CEO Dylan Lissette and CFO Cary Devore will participate in a virtual fireside chat at the Oppenheimer conference at 2:55 p.m. ET, followed by a presentation at Jefferies at 9:45 a.m. ET. Live webcasts and 90-day replays will be available on Utz’s Investor Relations website.

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.