Utz Brands: Reports Q3-2022 Results and Raises Outlook

Hanover / PA. (utz) Utz Brands Inc., a leading U.S. manufacturer of branded salty snacks, reported financial results for the Company’s fiscal third quarter ended October 02, 2022. Highlights:

  • Net Sales increased 16.0 percent year-over-year to USD 362.8 million
  • Organic Net Sales increased 12.6 percent year-over-year
  • GAAP Net Income of USD 1.5 million vs. USD 31.4 million in the year-ago period
  • Adjusted Ebitda increased 6.5 percent year-over-year to USD 47.7 million
  • The Company is again raising its full-year fiscal 2022 Net Sales and Adjusted Ebitda outlook

«I am very pleased with our team’s execution which drove third quarter results better than our expectations. We are successfully managing the impact of higher inflation while increasing our investments to support our growth strategies. As a result, we are again raising our net sales and Adjusted Ebitda outlook for fiscal 2022,» said Dylan Lissette, Chief Executive Officer of Utz. «We have been on an impressive growth journey marked by rapid expansion in our scale, geographic reach, and portfolio of brands and products. Looking ahead, I am excited to transition to Executive Chairman of the Board of Directors and remain actively engaged with the Company, while I pass the baton to Howard Friedman as our next Chief Executive Officer in mid-December. Having led some of America’s most iconic brands and established a track record of profitable growth, I believe Howard is the ideal leader to leverage our momentum and take Utz to the next level.» For additional information please read the Company’s PDF file below (208 KB):