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Sep 29, 2024
Utz Q3 2024 Earnings Report
Utz reported solid Organic Net Sales growth and Adjusted Earnings Per Share growth.
Key Takeaways
Utz Brands reported third quarter results with net sales of $365.5 million and organic net sales increasing by 1.9%. The company reaffirmed its 2024 outlook for Organic Net Sales growth of 2%-2.5% and Adjusted EBITDA growth of 5%-8%.
Net Sales of $365.5 million.
Organic Net Sales increased 1.9%.
Gross Profit Margin expansion of 370bps.
Adjusted Earnings Per Share increased 23.5% to $0.21.
Revenue by Segment
Forward Guidance
The Company is reaffirming its outlook for Organic Net Sales growth of 2%-2.5%. The Company is reaffirming its outlook for Adjusted EBITDA growth of 5%-8% and assumes the estimated impact of the forgone profit contribution from the brands divested in February 2024 are mostly offset by accelerated cost savings and the transition services agreement. The Company is reaffirming its outlook for Adjusted Earnings per Share growth of 28%-32%.
Positive Outlook
- Organic Net Sales growth of 2%-2.5% driven by volume growth.
- Increased marketing investments.
- Product innovation.
- Distribution gains already achieved.
- More favorable fourth quarter growth comparison.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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