Utz Brands: Reports Second Quarter 2023 Results

Hanover / PA. (utz) Utz Brands Inc., a leading U.S. manufacturer of branded salty snacks, reported financial results for the Company’s fiscal second quarter ended July 02, 2023. Second Quarter 2023 Summary:

• Net sales increased 3.6 percent year-over-year to USD 362.9 million
• Organic Net Sales increased 4.3 percent year-over-year
• Net loss of USD (8.6) million versus net income of USD 2.5 million in the year-ago period
• Adjusted Ebitda increased 7.1 percent year-over-year to USD 45.2 million
• Raising fiscal 2023 Adjusted Ebitda outlook

«Our second quarter results were consistent with our expectations as our momentum continued led by sustained strong demand across our advantaged portfolio of Power Brands,» said Chief Executive Officer Howard Friedman. «Looking ahead to the remainder of the year, we are raising our full-year Adjusted Ebitda outlook as we execute against our key growth and operational strategies.»

For additional information please read the Company’s PDF file below (280 KB):

20230814-UTZ-BRANDS.