secwatch.observer — SEC 8-K summary
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Issuer:     Utz Brands, Inc. (UTZ)
CIK:        0001739566
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001739566-24-000106
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1739566/000173956624000106/0001739566-24-000106-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1739566/000173956624000106/utz-20240502.htm
  HTML page:      https://secwatch.observer/filing/0001739566-24-000106

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