Utz Brands Inc Stock Price, News & Analysis

Utz Brands, Inc. (NYSE: UTZ) announces a leadership transition as CEO Dylan Lissette moves to Executive Chairman effective December 15, 2022. Howard Friedman, COO of Post Holdings, will take over as CEO. The change aims to support Utz’s growth strategy as a public company, enhancing its market position. During Lissette's tenure, sales nearly tripled to over $1.3 billion, alongside successful acquisitions. The company reaffirms its fiscal year 2022 outlook, expecting 13-15% net sales growth and 10-12% organic growth.

Utz Brands, Inc. announces a partnership with Keebler and Mother's to launch grab & go variety multipacks, featuring snacks like Fudge Stripes™ and Cheese Balls. This collaboration is aimed at leveraging the growing demand for snack variety, combining the strengths of three iconic brands. The multipacks are competitively priced and available in counts ranging from 12 to 40, with many distributed through major retailers and online. This strategic alliance is expected to enhance consumer reach and offer a convenient solution for snack lovers.

Utz Brands Inc. has announced a partnership with Yellowbird Foods to introduce a limited-time product, the Boulder Batch Yellowbird Habanero kettle-style potato chips. Combining Boulder Canyon's signature kettle chips cooked in avocado oil with Yellowbird's Habanero Condiment, these chips deliver a unique spicy flavor. Available for a limited time in leading U.S. retailers and online, the product features all-natural, Non-GMO, Vegan, and Gluten-Free ingredients. The collaboration aligns with Utz's commitment to creating better-for-you snacks. Visit BoulderCanyon.com for more information.

Utz Brands, Inc. (NYSE:UTZ) has declared a quarterly cash dividend of $0.054 per share on its Class A Common Stock, with payment scheduled for October 6, 2022. Shareholders on record as of September 19, 2022 will receive this dividend, which will be funded by cash distributions from Utz Brands Holdings. The Board of Directors will decide on future dividends based on operational results and financial conditions.

Utz Brands, Inc. (NYSE: UTZ), a prominent U.S. salty snack manufacturer, will present at the Barclays Global Consumer Staples Conference on September 7, 2022, at 2:15 p.m. ET. Investors and media can access the live audio webcast at utzsnacks.com. Utz offers a diverse portfolio of snacks under brands like Utz®, ON THE BORDER®, and Golden Flake®. The company is based in Hanover, Pennsylvania, and operates multiple manufacturing facilities across the U.S., committed to delivering high-quality snacks to a growing customer base.

Utz Brands, Inc. (NYSE: UTZ) reported a 17.5% increase in net sales for Q2 2022, totaling $350.1 million, driven by a 13.6% growth in organic net sales. Adjusted EBITDA rose 18.2% to $42.2 million, though GAAP net income decreased to $2.5 million from $16.2 million year-over-year. The company has raised its full-year sales outlook, now projecting 13-15% net sales growth and 2-5% growth in Adjusted EBITDA. Cost inflation remains a challenge, but pricing strategies are expected to mitigate its impact.

Utz Brands, Inc. (NYSE: UTZ) announced plans to report its second quarter 2022 financial results on August 11, 2022, before market open. The company will host a conference call at 8:30 a.m. ET to discuss these results, accessible via their Investor Relations website. Utz is known for its diverse portfolio of savory snacks and operates multiple manufacturing facilities across the U.S. The company's commitment to quality ingredients and consumer satisfaction remains a focal point as it prepares for the upcoming earnings announcement.

Utz Brands, Inc. (NYSE: UTZ) has announced promotions in its Executive Leadership Team, reinforcing their commitment to enhancing manufacturing and supply chain operations. Shannan Redcay has been appointed Executive Vice President of Manufacturing, continuing her role in driving transformation and efficiency since joining in 2015. Chad Whyte is now Executive Vice President of Supply Chain, overseeing logistics and procurement. These changes, effective June 21, 2022, aim to support Utz's growth during a period of increased consumer demand, highlighted by the addition of over five million new consumers during the pandemic.

Utz Brands, Inc. (NYSE: UTZ) has expanded its distribution by introducing its products, including Utz®, On The Border®, Zapp's®, and Golden Flake®, to nearly 1,300 Publix stores across the Southeast. This initiative aims to meet the growing demand for their snacks in Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Virginia. CEO Dylan Lissette emphasizes the importance of this expansion for reaching more consumers and enhancing brand visibility. The company continues its legacy of providing high-quality snack foods since its inception in 1921.