NYSE$UTZ
Utz Brands Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported strong start to the year with increased market share and Adjusted EPS growth.
Utz Brands reported net sales of $346.5 million and a net income of $2.4 million for Q1 2024. The company experienced organic net sales growth of 1.5% and a significant increase in Adjusted Earnings per Share of 27.3%. They are reaffirming Organic Net Sales and Adjusted EBITDA outlook, while raising Adjusted Earnings per Share outlook.
- Net sales reached $346.5 million.
- Organic Net Sales increased by 1.5%.
- Net income was $2.4 million, a significant improvement from the previous year's net loss of $(14.5) million.
- Adjusted Earnings per share increased by 27.3% to $0.14.
Headline financials
Revenue & EPS history
Utz · Revenue · Quarterly
$347M
Forward guidance
The Company is reaffirming its outlook for Organic Net Sales and Adjusted EBITDA growth, and raising its outlook for Adjusted Earnings per Share growth.
Tailwinds
- Organic Net Sales growth of ~3% or better driven by volume growth.
- Adjusted EBITDA growth of 5% to 8%, offset by accelerated cost savings and the transition services agreement.
- Adjusted EPS growth of 23% to 28%.
- An effective tax rate in the range of 18% to 20%.
- Net Leverage Ratio of ~3.6x at year-end fiscal 2024.
Headwinds
- Net sales to be impacted by ~$45 million due to the sale of the Good Health® and R.W. Garcia® brands.
- Assumes the estimated impact of the forgone contribution to Adjusted EBITDA from the brand dispositions.
- Interest expense of ~$47 million.
- Capital expenditures in the range of $80 to $90 million.
- Quantitative reconciliation is not available without unreasonable efforts due to the high variability, complexity, and low visibility with respect to certain items.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-0.2%
Avg return
Earnings day
+0.1%
Avg return
5 days after
-1.1%
Avg return
30 days after
55%
12 / 22 earnings
Positive
+15.2%
Q1 2022
Best reaction
-13.4%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.8% | -6.2% | -8.1% | |
| Q4 2025 | -4.8% | +2.9% | -19.2% | |
| Q3 2025 | -13.4% | -15.4% | -18.9% | |
| Q1 2025 | -8.7% | -8.8% | -0.5% | |
| Q4 2024 | +2.8% | +5.0% | +1.9% | |
| Q3 2024 | +7.0% | +6.3% | +7.4% | |
| Q2 2024 | +9.5% | +12.5% | +13.8% | |
| Q1 2024 | +6.1% | +4.6% | +2.3% | |
| Q4 2023 | -4.5% | -4.0% | +0.5% | |
| Q3 2023 | +1.1% | +6.6% | +11.5% | |
| Q2 2023 | +2.3% | -1.3% | -10.9% | |
| Q1 2023 | -7.3% | -5.4% | -13.9% | |
| Q4 2022 | +5.1% | +6.6% | +1.0% | |
| Q3 2022 | +5.4% | +8.2% | +11.7% | |
| Q2 2022 | -4.5% | -4.3% | -9.8% | |
| Q1 2022 | +15.2% | +14.2% | +4.1% | |
| Q4 2021 | -8.9% | -3.0% | +4.0% | |
| Q3 2021 | +8.4% | +7.2% | +0.1% | |
| Q2 2021 | -9.9% | -13.6% | -7.2% | |
| Q1 2021 | -7.1% | -8.2% | -6.4% | |
| Q3 2020 | -0.3% | -2.1% | +12.1% | |
| Q4 2019 | +0.1% | -0.1% | +0.2% |
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