Utz Q3 net sales +16% to $362.8M, raises FY2022 outlook; CEO succession announced

Utz Brands, Inc.

2022-Q3 EPS reported -$0.19 revenue$1,053,732,000

Q3 net sales $362.8M (+16% YoY); organic net sales +12.6%.
GAAP net income $1.5M vs $31.4M prior, due to $3.7M warrant liability loss.
Adjusted EBITDA $47.7M (+6.5% YoY); adjusted EPS $0.16 vs $0.18.
Company raises full-year 2022 net sales and Adjusted EBITDA guidance.
CEO Dylan Lissette to become Exec Chairman; Howard Friedman to be CEO mid-Dec 2022.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Utz Brands, Inc. reported the third quarter ended October 2, 2022 results: revenue $362.8 million, net income $1.5 million, EPS $0.16. Guidance raised.

Period: the third quarter ended October 2, 2022
Revenue: $362.8 million
Net income: $1.5 million
EPS: $0.16
Guidance: raised
Result: reported results

Exact text from the filing

salty snacks, today reported financial results for the Company’s fiscal third quarter ended October 2, 2022. 3Q’22 Highlights: • Net Sales increased 16.0% year-over-year to $362.8 million • Organic Net Sales increased 12.6% year-over-year • GAAP Net Income of $1.5 million vs. $31.4 million in the year-ago period (1) • Adjusted EBITDA increased 6.5% year-over-year

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Source: SEC EDGAR

accession 0001739566-22-000225

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