secwatch.observer — SEC 8-K summary
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Issuer:     Utz Brands, Inc. (UTZ)
CIK:        0001739566
Form:       8-K
Filed at:   2022-05-12T23:59:59+00:00
Accession:  0001739566-22-000143
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Utz Q1 net sales up 26.6% to record $340.8M; net loss widens to $31.9M; raises FY22 sales outlook
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- Net sales $340.8M, +26.6% YoY; organic net sales +20.7%; IRI retail sales +18.1%, Power Brands +20.1%.
- GAAP net loss $(31.9)M vs $(23.3)M, includes $23M DSD rights buyout expense; adjusted EBITDA $36.5M (-3.7%).
- Adjusted EPS $0.11 vs $0.13; adjusted gross profit margin 33.9% vs 38.8% (down 487 bps).
- Raising FY2022 net sales growth outlook; reaffirming Adjusted EBITDA outlook; incremental price actions planned.
- CEO cites record consumer demand; price elasticity better than expected; volume growth continues.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1739566/000173956622000143/0001739566-22-000143-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1739566/000173956622000143/utz-20220512.htm
  HTML page:      https://secwatch.observer/filing/0001739566-22-000143

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer