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Utz Brands, Inc. (symbol: UTZ) is a renowned name in the snack food industry, with a rich history dating back to its founding in 1921. Headquartered in Hanover, PA, Utz Brands is privately-owned and family-managed, producing a broad range of snack products that cater to diverse tastes.
The company’s extensive product lineup includes potato chips, pretzels, cheese snacks, corn products, and popcorn, distributed under various popular brands such as Utz, Zapp's, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS! and more. These products are widely available through national and international channels, including grocery stores, mass merchants, club stores, convenience stores, and drug stores.
Utz Brands boasts multiple manufacturing facilities to support its vast production needs. The main hub is in Hanover, with additional facilities in Louisiana, Massachusetts, and Wilkes-Barre, PA. This wide network ensures a steady supply of fresh and delicious snacks to consumers across the globe.
Recently, Utz has made significant strides in expanding its market reach and improving product quality. The company has formed strategic partnerships and launched several initiatives to enhance its brand presence and customer satisfaction. Financially, Utz Brands has demonstrated solid performance, with a focus on sustainable growth and innovation.
Utz’s commitment to quality and customer satisfaction has solidified its position as a leader in the snack food industry. For more information about Utz or its products, visit www.utzsnacks.com or call 1-800-FOR-SNAX.
Utz Brands, Inc. (NYSE: UTZ) has completed the acquisition of ~65 direct-store delivery (DSD) routes in South Florida from National Food Corp. This strategic move enhances Utz's local distribution capabilities and supports geographic expansion in key areas including Miami, Fort Lauderdale, West Palm Beach, Naples, and Fort Myers. This is Utz's second transaction with National Food, following a 2021 acquisition of 21 DSD routes in Central Florida.
Florida, the third-largest U.S. state for Salty Snack Category sales ($2.6 billion), is a important expansion market for Utz. Since 2021, Utz has grown its Florida retail sales to $103 million, with a 28% CAGR and increased market share from 2.7% to 3.9%. To capitalize on further growth opportunities, Utz plans to increase investments in distribution facilities, sales management, and route systems in the region.
Zapp's, a brand known for its New Orleans-inspired snacks, has introduced two new flavors to its product lineup. Big Cheezy Kettle Potato Chips combine cheddar cheese, sour cream, and Cajun seasoning, available in 2.5- and 8-ounce packages. This is the first new flavor added to Zapp's Kettle Potato Chip line in two years. The Sweet Cinnamon & Sugar Pretzel Stix feature a sweet cinnamon and sugar coating on Zapp's crunchy pretzels, available in 1.5-, 5-, and 16-ounce packages.
These new products aim to deliver unique flavors with a New Orleans twist. They are now available at major retailers across the United States and online at utzsnacks.com. Stacey Schultz, Senior Vice President of Marketing at Utz Brands, Inc., emphasized the company's goal to excite curiosity and offer distinctive snacks that Zapp's is known for.
Utz Brands, Inc. (NYSE: UTZ) reported strong Q2 2024 results, raising its FY'24 Adjusted Earnings Per Share outlook. Key highlights include:
- Net Sales of $356.2 million
- Organic Net Sales increased 1.6%
- Gross Profit Margin expansion of 260bps
- Net Income of $25.4 million
- Adjusted EBITDA increased 10.0% to $49.7 million
- Earnings per share of $0.23
- Adjusted Earnings per share increased 46.2% to $0.19
The company gained market share in the Salty Snack category for the third consecutive quarter. Utz revised its FY 2024 Organic Net Sales growth outlook to ~3% and raised its Adjusted Earnings per Share growth outlook to 28%-32%. The company expects strong volume growth in the second half of the year, driven by increased marketing investments and product innovation.
Utz Brands, Inc. (NYSE: UTZ), a leading U.S. manufacturer of branded salty snacks, has announced its plan to report second quarter 2024 financial results on Thursday, August 1, 2024. The company will release a press release, pre-recorded management remarks, and a slide presentation at 6:30 a.m. Eastern Time. This will be followed by a live webcast question and answer session with analysts at 8:00 a.m. Eastern Time. Investors and interested parties can access these materials and the webcast through the 'Events & Presentations' section of Utz's Investor Relations website at https://investors.utzsnacks.com.
Utz Brands, a leading U.S. manufacturer of branded salty snacks, announced a quarterly cash dividend of approximately $0.059 per share on its Class A Common Stock. The payment will be made on July 3, 2024, to shareholders recorded by June 17, 2024. The dividend includes an additional cash distribution totaling around $1.7 million, or approximately $0.0210 per share, funded from excess tax distributions. Future dividends will depend on the company's operations, financial health, and other relevant factors as determined by the Board of Directors. Utz may also declare additional dividends from excess tax distributions in future quarters.
Utz Brands, Inc. (NYSE: UTZ) will present at the Goldman Sachs Global Staples Forum on May 14, 2024. The leading U.S. salty snacks manufacturer will webcast the presentation at 11:40 a.m. ET. The event can be accessed by media and investors through the provided link.
Utz Brands, Inc. will showcase new and best-selling products at the Sweets & Snacks Expo, featuring brands like Utz, Zapp’s, Boulder Canyon, and On The Border. The Expo will highlight innovative flavors and fan favorites, including spicier options across the portfolio. Utz continues to offer quality snacks with new twists on classic favorites, maintaining consumer appeal and crunchy textures.
Utz has partnered with Mike's Hot Honey to launch Utz Mike's Hot Honey EXTRA HOT potato chips, a -time triple heat version of the original chips. Available now through September, these gluten-free and kosher-certified chips come in two sizes and aim to cater to the growing demand for hot and spicy snacks. The partnership between Utz and Mike's Hot Honey has been successful, leading to the release of new products like Utz Mixed Mini pretzels in the same flavor.
Utz Brands, Inc. (NYSE: UTZ) reported strong financial results for the fiscal first quarter ended March 31, 2024, with net sales of $346.5 million, an increase in organic net sales, gross profit margin expansion, and adjusted EBITDA growth. The company reported a net income of $2.4 million compared to a net loss of $(14.5) million in the prior year period. The recent disposition of manufacturing facilities and repricing of a term loan further improved the company's financial position.
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