Snack Company Utz Beats Q3 Earnings, Optimizes Supply Chain And Upgrades Outlook
Portfolio Pulse from Nabaparna Bhattacharya
Utz Brands Inc reported Q3 FY23 sales growth of 2.5% YoY to $371.85 million, beating the consensus of $370.46 million. Organic net sales increased 3.1% YoY. Adjusted gross profit grew 1.9% YoY to $135.1 million. Adjusted EBITDA increased 9.2% YoY to $52.1 million. The company expects total net sales growth of 2% to 3% and Organic Net Sales growth of 3% to 4%. UTZ shares were trading higher by 5.1% at $12.75.
November 09, 2023 | 3:57 pm
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Utz Brands reported better than expected Q3 earnings and upgraded its outlook, leading to a 5.1% increase in its share price.
Utz Brands reported a YoY sales growth of 2.5% to $371.85 million, beating the consensus of $370.46 million. The company also reported an increase in organic net sales and adjusted gross profit. The positive earnings report and upgraded outlook have led to an increase in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100