Hanover / PA. (utz) Utz Brands Inc., a leading U.S. manufacturer of branded salty snacks, reported financial results for the Company’s fiscal first quarter ended April 02, 2023. First Quarter 2023 Summary:
- Net sales increased 3.1 percent year-over-year to USD 351.4 million
- Organic Net Sales increased 4.0 percent year-over-year
- Net loss of USD (14.5) million vs. a net loss of USD (31.9) million in the year-ago period
- Adjusted Ebitda increased 10.7 percent year-over-year to USD 40.4 million
- Raising fiscal 2023 Adjusted Ebitda outlook
«Our business momentum continued as we delivered year-over-year Adjusted Gross Margin expansion, double-digit Adjusted Ebitda growth, and 4 percent Organic Net Sales growth even as we lapped 21 percent comparable growth in the prior year,» said Howard Friedman, Chief Executive Officer of Utz. «We remain well-positioned to deliver strong performance for the full year, as our Salty Snack category remains resilient, and we continue to execute against our key portfolio optimization, geographic expansion, and productivity strategies.»
For additional information please read the Company’s PDF file below (100 KB):
20230511-UTZ-Q1-2023.
