Utz Brands To Introduce Long-Term Growth Strategy At 2023 Investor Day; Reaffirms Fiscal Year 2023 Outlook Of Net Sales Growth Of 2%-3% And Organic Net Sales Growth Of 3%-4%; Sees FY23-FY26 4%-5% Organic Net Sales Growth; ~16% Adj EBITDA Margin In FY26
Portfolio Pulse from Benzinga Newsdesk
Utz Brands, Inc. (NYSE:UTZ) is set to present its long-term growth strategy at its 2023 Investor Day, reaffirming its FY 2023 outlook with net sales growth of 2%-3% and organic net sales growth of 3%-4%. The company anticipates 4%-5% organic net sales growth from FY23 to FY26 and targets a ~16% adjusted EBITDA margin by FY26. Plans include expanding Power Brands, transforming the supply chain for margin improvements, and introducing new three-year financial targets. Utz also aims to reduce leverage and pursue acquisitions opportunistically.
December 15, 2023 | 2:17 pm
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Utz Brands confirms FY 2023 outlook with sales growth of 2%-3% and sets ambitious targets for FY26, including 4%-5% organic sales growth and a ~16% adjusted EBITDA margin. The company's strategy focuses on brand expansion and supply chain improvements.
The reaffirmation of Utz Brands' FY 2023 outlook and the introduction of new financial targets for FY26 are likely to be viewed positively by investors. The focus on expanding Power Brands and improving supply chain efficiency suggests a proactive approach to growth, which could lead to increased investor confidence and potentially drive the stock price up in the short term.
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