Utz Brands: Reports Record Second Quarter Net Sales

Hanover / PA. (utz) Utz Brands Inc., a leading U.S. manufacturer of branded salty snacks, reported financial results for the Company’s fiscal second quarter ended July 03, 2022. Highlights:

  • Net Sales increased 17.5 percent year-over-year to USD 350.1 million
  • Organic Net Sales increased 13.6 percent year-over-year
  • GAAP Net Income of USD 2.5 million versus USD 16.2 million in the year-ago period
  • Adjusted Ebitda increased 18.2 percent year-over-year to USD 42.2 million
  • The Company is raising its full-year fiscal 2022 Net Sales and Adjusted Ebitda outlook

«We are pleased with our second quarter results as we continued our sales momentum, drove market share gains, and delivered double digit Adjusted Ebitda growth,» said Dylan Lissette, Chief Executive Officer of Utz. «While the operating environment continues to be challenging, our team is executing well against our multi-faceted growth strategies, and we are raising our full-year sales outlook. In addition, we continue to expect that our pricing actions and productivity programs will offset cost inflation in the second half of the year. Importantly, visibility into our cost structure is improving, and based on these factors, we are also raising our Adjusted Ebitda outlook for fiscal 2022.»

For additional information please read the Company’s PDF file below (205 KB):

20220812-UTZ-Q2-2022
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