Utz Brands: Reports Fourth Quarter 2021 Financial Results

Hanover / PA. (utz) Utz Brands Inc., a leading U.S. manufacturer of branded salty snacks, reported financial results for the Company’s fiscal fourth quarter and full-year ended January 02, 2022.

«2021 marked our first year as a public company, and I’m incredibly proud of our Utz team. In a challenging supply chain environment, we made the trade-off to ensure strong levels of service to our customers to meet the robust demand from our consumers while absorbing higher costs to do so. This decision impacted our profits in the short term but was the right decision to benefit and accelerate our long-term growth,» said Dylan Lissette, Chief Executive Officer.

Lissette continued, «Our fourth-quarter results reflect this trade-off with organic net sales growth accelerating meaningfully versus previous quarters, but earnings being impacted by higher than anticipated industry-wide supply chain costs. Importantly, we took significant pricing actions in 2021, as seen in our building net price realization improvements throughout each quarter, and this trend has continued through year-to-date 2022. These pricing actions, along with our productivity programs, give us confidence that we will be able to offset the continuing high inflation as we exit 2022 and into 2023.»

For additional information please read the Company’s PDF file below (177 KB):

20220304-UTZ-Q4-2021
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