Welcome to our dedicated page for Utz Brands news (Ticker: UTZ), a resource for investors and traders seeking the latest updates and insights on Utz Brands stock.
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), 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.
Utz Brands, Inc. (NYSE: UTZ) will report its second quarter 2021 financial results on August 12, 2021, before market open. A conference call is scheduled for 8:30 a.m. Eastern Time to discuss these results. Investors can access the live webcast through Utz’s Investor Relations website. The company manufactures a diverse portfolio of snacks under several brands, distributing products nationally through various retail channels. More information can be found at the company's Investor Relations website.
Utz Brands, Inc. (NYSE: UTZ) has appointed Theresa Robbins Shea as Executive Vice President, General Counsel & Corporate Secretary, effective July 6, 2021. Shea will lead the legal team and be a part of the Executive Leadership Team, reporting to CEO Dylan Lissette. Her previous roles include Vice President and General Counsel at True Value Company and Senior Counsel at United Airlines. Lissette expressed confidence that Shea's experience will enhance Utz's legal and strategic framework, supporting long-term shareholder value.
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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.
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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, 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.