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) announces the appointment of Chad Whyte as Senior VP of Supply Chain Planning and Logistics, effective January 3, 2022. With 25 years of supply chain experience, Whyte aims to enhance the company's supply chain network and productivity in response to increased consumer demand.
His previous role as President of Aloe Group involved collaboration with Utz on supply chain initiatives. Brian Greth transitions to SVP of Enterprise Integration, focusing on M&A integration.
Utz Brands, Inc. (NYSE: UTZ) has announced a definitive agreement to acquire R.W. Garcia Holdings, LLC for $56 million. This acquisition is aimed at expanding production capacity and enhancing Utz's Better-For-You product portfolio. With a strong track record in organic snacks, RW Garcia is expected to boost Utz’s retail sales in this segment to over $100 million annually. The transaction, anticipated to close in Q4 2021, will leverage synergies that are expected to contribute to earnings accretion in fiscal 2022 and beyond.
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Utz Brands, Inc. (NYSE: UTZ) has announced it will report its Q3 2021 financial results on November 11, 2021, prior to market opening. A conference call will be held at 8:30 a.m. Eastern Time to discuss these results. Investors can access the live webcast and subsequent replay on the company’s Investor Relations website.
Utz specializes in a wide range of branded salty snacks, and operates 15 facilities across the U.S. with a commitment to high-quality ingredients.
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Utz Brands, Inc. (NYSE:UTZ) has declared a quarterly cash dividend of $0.05 per share on its Class A Common Stock. The payment is scheduled for October 11, 2021, to shareholders on record as of September 20, 2021. This cash dividend will be funded by distributions from Utz Brands Holdings, shared pro-rata among common unit holders. Future dividends will depend on the Board’s discretion, considering the company's financial performance and other relevant factors.
Utz Brands, Inc. (NYSE: UTZ), a leading U.S. salty snacks manufacturer, will present at the Barclays Global Consumer Staples Conference on September 10, 2021, at 9:20 a.m. ET. CEO Dylan Lissette and CFO Cary Devore will engage in a discussion with Barclays analyst Andrew Lazar. The live presentation can be accessed on Utz's Investor Relations website, with a replay available for 90 days. Utz offers a wide range of popular snack brands and operates fifteen facilities across multiple states, fostering a strong commitment to quality ingredients and consumer satisfaction.
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Utz Brands reported strong second-quarter results, with net sales rising 23.1% to $297.9 million. However, inflation impacted margins, with adjusted gross profit margin decreasing by 200 bps to 35.4%. The company experienced increased demand for its Power Brands, which grew 8.1% on a two-year CAGR. While net income improved to $16.2 million, rising costs are expected to affect profitability in the short term. Management anticipates benefits from cost-saving actions and pricing adjustments in the latter half of 2021, with a positive outlook for fiscal 2022.
Utz Brands, Inc. (NYSE: UTZ) has announced significant changes to its Executive Management Team as part of its growth strategy. Effective October 4, 2021, Cary Devore transitions to Executive Vice President and Chief Operating Officer, Ajay Kataria becomes Executive Vice President and Chief Financial Officer, and Jim Sponaugle is appointed Executive Vice President and Chief People Officer. Todd Staub will retire on January 3, 2022, after 25 years with the company. These changes aim to enhance leadership, drive revenue growth, and optimize operations to bolster Utz's position in the snack industry.