NYSE$UTZ
Utz Brands Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Utz reported solid results on both the top and bottom line, with strong growth of their Power Brands, particularly in their Expansion geographies.
Utz Brands reported a 2.5% increase in net sales to $371.9 million and a net income of $16.2 million for Q3 2023. Organic Net Sales increased by 3.1%. The company's supply chain and portfolio optimization efforts negatively impacted volume, but productivity and cost savings helped maintain Adjusted EBITDA guidance.
- Net sales increased 2.5% year-over-year to $371.9 million.
- Organic Net Sales increased 3.1% year-over-year.
- Net income of $16.2 million vs. net income of $1.5 million in the year-ago period.
- Adjusted EBITDA increased 9.2% year-over-year to $52.1 million.
Headline financials
Revenue & EPS history
Utz · Revenue · Quarterly
$372M
Forward guidance
The Company is updating its previously-issued full-year fiscal 2023 financial outlook.
Tailwinds
- Net sales growth is expected to be driven by net price realization.
- Net sales growth is expected to be driven by increased marketing and innovation.
- Net sales growth is expected to be driven by continued distribution gains of the Company’s Power Brands.
- Adjusted EBITDA growth of 8% to 11% driven by stronger operating performance led by the Company’s productivity programs.
- An effective tax rate in the range of 17% to 18%.
Headwinds
- Company now expects total net sales growth of 2% to 3% (previously 3% to 5%).
- Company now expects Organic Net Sales growth of 3% to 4% (previously 4% to 6%).
- Shift to IOs expected to impact total net sales growth by approximately (-1.0%).
- The revised range reflects the impact of our aggressive supply chain optimization actions and normalizing Salty Snack category growth with some channel shifting by consumers.
- The estimated impact of approximately (-3%) from the Company’s SKU rationalization program.
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 Q3 2023
-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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