Utz Q4 net sales -0.7% to $352M, net loss $33.2M; completes brand dispositions with $150M proceeds

Utz Brands, Inc.

2023-FY EPS reported -$0.31 revenue$1,438,237,000

Q4 net sales $352.1M (-0.7% YoY); Organic Net Sales -0.3%. Net loss $33.2M vs net income $13.8M prior year.
Q4 Adjusted EBITDA $49.4M (+12% YoY); FY Adjusted EBITDA $187.2M (+9.8% YoY).
FY net sales $1,438.2M (+2.1%); FY net loss $40.0M vs $14.0M loss in prior year.
Closed dispositions of Good Health and RW Garcia brands and 3 factories on Feb 5; ~$150M after-tax proceeds used to reduce variable-rate debt.

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 0.9

Utz Brands, Inc. reported the year ended December 31, 2023 results: revenue $1,438.2 million, net income $(40.0) million, EPS $ (0.31).

Period: the year ended December 31, 2023
Revenue: $1,438.2 million
Net income: $(40.0) million
EPS: $ (0.31)
Result: reported results

Exact text from the filing

FY’23 Summary: • Net sales increased 2.1% year-over-year to $1,438.2 million. • Organic Net Sales increased 2.8% year-over-year. • Net loss of $(40.0) million vs. net loss of $(14.0) million in the year-ago period. • Adjusted EBITDA increased 9.8% year-over-year to $187.2 million.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Utz Brands, Inc. reported the fourth quarter ended December 31, 2023 results: revenue $352.1 million, net income $(33.2) million, EPS $ (0.34).

Period: the fourth quarter ended December 31, 2023
Revenue: $352.1 million
Net income: $(33.2) million
EPS: $ (0.34)
Result: reported results

Exact text from the filing

4Q’23 Summary: • Net sales decreased (0.7)% year-over-year to $352.1 million. • Organic Net Sales decreased (0.3)% year-over-year. • Net loss of $(33.2) million vs. net income of $13.8 million in the year-ago period. • Adjusted EBITDA increased 12.0% year-over-year to $49.4 million.

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Source: SEC EDGAR

accession 0001739566-24-000052

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