NYSE$UTZ
Utz Brands Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Utz's Q4 2023 results reflected a slight decrease in net sales, but adjusted EBITDA increased.
Utz Brands reported a decrease in net sales by 0.7% to $352.1 million for Q4 2023. However, adjusted EBITDA increased by 12.0% to $49.4 million. The company experienced a net loss of $(33.2) million compared to a net income of $13.8 million in the prior year period.
- Net sales decreased (0.7)% year-over-year to $352.1 million.
- Organic Net Sales decreased (0.3)% year-over-year.
- Net loss of $(33.2) million vs. net income of $13.8 million in the year-ago period.
- Adjusted EBITDA increased 12.0% year-over-year to $49.4 million.
Headline financials
Revenue & EPS history
Utz · Revenue · Quarterly
$352M
Forward guidance
In fiscal 2024, the Company expects organic net sales growth of ~3% or better driven by volume growth, and assumes total net sales to be impacted by ~$45 million due to the recently closed transaction for the dispositions of the Good Health® and R.W. Garcia® brands and manufacturing facilities. Adjusted EBITDA growth of 5% to 8% and Adjusted EPS growth of 16% to 21%.
Tailwinds
- Organic Net Sales growth of ~3% or better driven by volume growth.
- Adjusted EBITDA growth of 5% to 8%.
- Adjusted EPS growth of 16% to 21%.
- Effective tax rate (normalized GAAP basis tax expense, which excludes one-time items) in the range of 19% to 21%.
- Net Leverage Ratio of ~3.6x at year-end fiscal 2024.
Headwinds
- Total net sales to be impacted by ~$45 million due to the recently closed transaction for the dispositions of the Good Health® and R.W. Garcia® brands and manufacturing facilities.
- Assumes the estimated impact of the forgone contribution to Adjusted EBITDA from the brand dispositions are mostly offset by accelerated cost savings and the transition services agreement.
- Interest expense of ~$50 million.
- Capital expenditures in the range of $80 to $90 million.
- A quantitative reconciliation is not available without unreasonable efforts due to the high variability, complexity, and low visibility with respect to certain items which are excluded from Adjusted EBITDA.
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 Q4 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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