Utz Q3 adjusted EPS $0.21 (+23.5%); reaffirms FY2024 organic sales growth 2%-2.5%

Utz Brands, Inc.

2024-Q3 EPS reported $0.16 revenue$1,068,236,000

Net sales $365.5M (-1.7% reported, +1.9% organic); volumes +2.4% driven by Power Brands.
Adjusted gross margin 39.0% (+270bps); adjusted EBITDA $54.0M (+3.6%) with margin 14.8%.
Net income $0.8M vs $16.2M due to $22.4M warrant liability loss; adjusted net income $29.6M (+20.3%).
Reaffirms FY2024 outlook: organic sales growth 2%-2.5%, adjusted EBITDA growth 5%-8%, adj. EPS growth 28%-32%.
Net debt $731.5M, net leverage 3.7x; liquidity $223.7M; capex guidance $80-$90M unchanged.

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