Utz Q1: Adj EPS $0.14 (+27% YoY); Adj EBITDA margin 12.5%; raises FY24 Adj EPS outlook

Utz Brands, Inc.

2024-Q1 EPS reported -$0.05 revenue$346,523,000

Net sales $346.5M (-1.4% reported); organic net sales +1.5%; gross margin expanded 480bps to 34.5%.
Net income $2.4M vs loss $(14.5M) YoY; adjusted EBITDA $43.4M (+7.4%), margin 12.5% vs 11.5%.
Adjusted EPS $0.14 (+27.3%); raised FY24 Adjusted EPS guidance; reaffirmed organic sales & Adj EBITDA outlook.
Completed $630M Term Loan repricing at lower rate; sold two facilities for $18.5M to reduce debt/interest.
CEO cites 5th consecutive quarter of Adj EBITDA margin expansion and share gains in salty snacks category.

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 first quarter ended March 31, 2024 results: revenue $346.5 million, net income $2.4 million, EPS Basic loss per share of $(0.05). Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $346.5 million
Net income: $2.4 million
EPS: Basic loss per share of $(0.05)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

and a small-cap growth and value Staples equity, today reported financial results for the Company’s fiscal first quarter ended March 31, 2024. 1Q’24 Summary (1) • Net sales of $346.5 million • Organic Net Sales increased 1.5% • Gross Profit Margin expansion of 480 bps • Adjusted Gross Margin expansion of 280 bps • Net income of $2.4 million vs. net loss of $(14.5)

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Source: SEC EDGAR

accession 0001739566-24-000106

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