secwatch.observer — SEC 8-K summary
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Issuer:     Utz Brands, Inc. (UTZ)
CIK:        0001739566
Form:       8-K
Filed at:   2024-10-31T23:59:59+00:00
Accession:  0001739566-24-000154
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1739566/000173956624000154/0001739566-24-000154-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1739566/000173956624000154/utz-20241031.htm
  HTML page:      https://secwatch.observer/filing/0001739566-24-000154

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer