Utz Brands Inc Stock Price, News & Analysis

Utz Brands, Inc. (NYSE: UTZ) has declared a cash dividend of approximately $0.06 per share on its Class A Common Stock, expected to be paid on January 11, 2021, to stockholders of record as of December 21, 2020. This includes a regular quarterly dividend of $0.05 and an additional cash dividend of around $0.01 per share, totaling roughly $0.8 million from tax distributions. Future dividends will depend on the Company’s financial condition and performance.

Utz Brands (NYSE: UTZ) announced the acquisition of Truco Enterprises for $480 million, enhancing its portfolio in the tortilla chips, salsa, and queso markets under the ON THE BORDER^® brand. Expected to close in December 2020, the deal is projected to be accretive to earnings from 2021 onward, with an estimated $50 million in Truco Adjusted EBITDA for fiscal 2020. The acquisition boosts Utz's market presence, particularly in the $6.2 billion tortilla chip category, while allowing anticipated synergies of at least $5 million.

Insignia Capital Group has agreed to sell Truco Enterprises, known for its On The Border® brand of tortilla chips, salsa, and queso, to Utz Brands (NYSE: UTZ) for $480 million. The transaction is anticipated to close in December 2020, contingent upon regulatory approvals. Insignia has helped Truco expand significantly since its investment in 2014, with adjusted EBITDA tripling in the last six years. Truco's CEO expressed enthusiasm for joining Utz, highlighting the brand's growth and potential for market expansion through Utz's distribution network.

Utz Brands, Inc. (NYSE: UTZ) has announced the acquisition of Truco Enterprises for $480 million. This strategic move aims to enhance Utz's position in the tortilla chip sub-category, where Truco’s ON THE BORDER^® brand ranks #3. The deal, expected to close in December 2020, will be accretive to earnings from 2021 onward. Utz anticipates run-rate synergies of at least $5 million, bolstering its portfolio within the $28 billion U.S. Salty Snack category. The acquisition is expected to increase Utz's retail sales and geographic footprint significantly.

Utz Brands, Inc. (NYSE: UTZ), a prominent U.S. salty snacks manufacturer, announced that CEO Dylan Lissette and CFO Cary Devore will participate in a fireside chat at the Jefferies West Coast Consumer Conference. The event is scheduled for Wednesday, November 18, 2020, at 1:10 p.m. ET. Interested listeners can access the live webcast via Utz’s Investor Relations website, with a replay available for 90 days. Utz is known for its diverse range of snack brands and has nearly a century of heritage in the snack food industry.

Utz Brands reported strong financial results for Q3 2020, with net sales rising 24.2% to $248.0 million. Gross profit increased 23.5% to $86.2 million, while adjusted gross profit surged 34.8% to $99.2 million. However, the company faced a net loss of $7.3 million, mainly due to transaction-related expenses from its Business Combination. Despite challenges, adjusted net income rose to $17.9 million, and adjusted EBITDA grew 39.8% to $38.2 million. Utz also increased its fiscal year guidance, anticipating 10-11% net sales growth for FY 2020.

Utz Brands, Inc. (NYSE: UTZ) will report its third-quarter results for the period ended September 27, 2020, on November 5, 2020, before market open. A conference call with the management team will take place at 8:30 a.m. ET. Investors can access the live webcast through the Investor Relations section of Utz's website. Utz is recognized for its diverse range of savory snacks, including popular brands like Utz®, Golden Flake®, and Zapp’s®. The company is headquartered in Hanover, Pennsylvania, and operates fourteen facilities across multiple states.

BOULDER CANYON, a brand under Utz, introduces its new Thin & Crispy potato chips, cooked in avocado oil and available in Classic Sea Salt and Cheddar Sour Cream flavors. This innovation sets the brand apart in the saturated snack market, as it is a leader in healthier options. The launch reinforces BOULDER CANYON's commitment to providing tasty and better-for-you snacks, with its Avocado Oil Sea Salt Potato Chip recognized as a top-selling SKU in the natural foods channel. The chips are made from premium American-grown potatoes.

Utz Brands, Inc. (NYSE: UTZ) has appointed The Sasha Group as its marketing agency of record to enhance its consumer marketing strategy. This partnership aims to accelerate Utz's transition to a digital-first approach, utilizing consumer-led ideas across various audience segments. Bill Blubaugh, SVP of Marketing at Utz, expressed confidence that The Sasha Group's innovative methods will elevate the brand. The collaboration will be spearheaded by The Sasha Group's Chattanooga office, with campaigns set to launch in November 2020.