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Rhea-AI Summary
Utz Quality Foods, LLC. issues a voluntary recall for 88 cases of Utz® 2.75 oz. Wavy Original Potato Chips due to an undeclared milk allergen. The recall was initiated after it was discovered that some bags contained seasoned chips instead of plain ones. The affected products were distributed in New York State and primarily within New York City. No illnesses associated with the recall have been reported. Consumers with a milk allergy should not consume the products and can contact Utz Customer Care for a refund.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.35%
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Rhea-AI Summary
Utz Brands, Inc. (NYSE: UTZ) will detail plans to expand power brands outside core geography, transform supply chain to fuel margin improvements, and introduce new three-year financial targets at its 2023 Investor Day. The company also reaffirmed its fiscal year 2023 outlook, including net sales growth of 2% to 3%, adjusted EBITDA growth of 8% to 11%, and net leverage ratio below 4.5x by year-end fiscal 2023.
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Rhea-AI Sentiment
End-of-Day
1.11%
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Utz Brands, Inc. (NYSE: UTZ) has declared a regular quarterly cash dividend of approximately $0.057 per share on the Company’s Class A Common Stock. Payment is expected to be made on January 4, 2024, to stockholders of record at the close of business on December 18, 2023. The cash dividend will be funded by cash distributions made by Utz Brands Holdings, LLC to Utz and the other holders of Utz Brands Holdings’ common units on a pro-rata basis.
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End-of-Day
-0.88%
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Utz Brands, Inc. (UTZ) and Grillo’s Pickles launch limited time only Classic Dill Pickle Flavored Kettle Style Potato Chip. The partnership offers a non-GMO verified, gluten-free, and kosher-certified snack option for pickle lovers. The chips are available in 5.25 oz. packages at leading retailers nationwide.
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Rhea-AI Sentiment
End-of-Day
-0.15%
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Utz Brands, Inc. (NYSE: UTZ) announced the appointment of Mitchell Arends as Executive Vice President, Chief Integrated Supply Chain Officer, and Cary Devore as Executive Vice President, Chief Operating and Transformation Officer. These appointments aim to enhance the Company’s execution of short- and long-term objectives, including supply chain optimization and integrated business planning. Mitchell Arends will oversee all aspects of the supply chain, while Cary Devore will lead the execution of the Company’s strategic plan priorities and large-scale transformation initiatives.
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Rhea-AI Sentiment
End-of-Day
4.87%
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News
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Utz Brands, Inc. (NYSE: UTZ) to Present at Stephens Annual Investment Conference on November 15, 2023
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Rhea-AI Sentiment
End-of-Day
4.87%
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Utz Brands, Inc. (NYSE: UTZ) reported a 2.5% increase in net sales to $371.9 million for the third fiscal quarter of 2023, with net income reaching $16.2 million. The company also saw a 9.2% rise in adjusted EBITDA to $52.1 million. However, aggressive supply chain and portfolio optimization actions negatively impacted second half volume, resulting in a near-term impact on full-year net sales guidance. Despite this, the company maintained its full-year adjusted EBITDA guidance and remains optimistic about future growth.
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Utz Brands, Inc. to report Q3 2023 financial results on November 9, 2023
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Rhea-AI Sentiment
End-of-Day
-0.41%
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Utz Brands announces network optimization initiatives to support volume growth and reduce costs
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End-of-Day
-0.96%
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Utz reveals grand prize winner of Ultimate Utz Fan contest, Michael H. from State College, PA
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Rhea-AI Sentiment
End-of-Day
-3.42%
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Utz Brands, Inc.
NYSE:UTZ
UTZ Rankings
UTZ Stock Data
1.59B
64.28M
17.59%
93.17%
7.88%
Dog and Cat Food Manufacturing
Manufacturing
United States of America
HANOVER
About UTZ
utz quality foods, llc, a privately-owned and family managed company founded in 1921 and based in hanover, pa manufacturers and markets snack foods throughout the united states and internationally. the company produces a full line of snack products including potato chips, pretzels, cheese snacks, corn products and popcorn. utz has four manufacturing facilities in hanover, with additional facilities in louisiana, massachusetts, and wilkes-barre, pa. utz products are distributed nationally through grocery, mass-merchant, club stores, convenience stores, drug stores and other channels under the utz, zapp’s, “dirty”, wachusett, mystic, & california chips brand names. for information about utz or its products, visit www.utzsnacks.com or call 1-800-for-snax.