Utz Brands Inc Stock Price, News & Analysis

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.

Utz Brands has acquired distribution rights for 21 DSD routes in Central Florida from National Food Corp., enhancing its presence in a key market. Florida, the third-largest state for Salty Snacks with $1.8 billion in sales, shows a 7.7% growth. Utz's retail sales in the region reached $48 million in 2020, growing 16.6%, but still only capturing 2.6% of the market. This acquisition aims to boost sales and improve distribution support, aligning with Utz's strategy of increasing market penetration in Florida.

Utz Brands announces a $6 million profit-sharing contribution for its 401K Profit Sharing Plan, benefitting Utz Associates. This contribution reflects the company's retail success and follows over $75 million in contributions since 2000. The announcement comes after Utz's public debut in August and recent acquisitions of ON THE BORDER® chips and dips and Vitner’s®. Despite COVID-19 challenges in 2020, Utz exceeded expectations, attributing success to the efforts of its resilient team. Utz continues to engage and reward its workforce as it approaches its 100-year anniversary.

Utz Brands reported strong fiscal fourth quarter results for 2020, with net sales reaching $246.3 million, up 22.1% year-over-year. The company achieved adjusted net income of $20.4 million, a significant increase from $0.5 million in Q4 2019. Full-year net sales totaled $964.3 million, a 25.5% increase, driven by robust performance in Power Brands and an additional week of sales from a 53-week fiscal year. Looking forward, Utz projects modest organic growth in 2021, estimating net sales consistent with 2020 levels and adjusted EBITDA between $180-$190 million.

Utz Brands, Inc. (NYSE: UTZ) plans to report its fourth quarter and full year 2020 financial results on March 18, 2021, before the market opens. A conference call and webcast with the executive management team will follow at 8:30 a.m. Eastern Time, allowing investors to gain insights into the Company's performance. Utz is a leading manufacturer of branded salty snacks with a diverse portfolio, including brands like Utz® and ON THE BORDER® Chips & Dips. For more details, visit their Investor Relations website.

Utz Brands, Inc. (NYSE: UTZ) has successfully closed a $720 million Term Loan B refinancing, extending its maturity to 2028. This new financing, driven by strong investor demand, will lower the Company’s cash interest costs by $3.6 million annually and enhance financial flexibility for growth. The new loan, combined with approximately $181 million from warrant redemptions, has fully repaid a $490 million Bridge Credit Facility and refinanced a previous $410 million Term Loan B. The increase in Utz's ABL revolving credit facility to $161 million further supports this refinancing strategy.