HANOVER, Pa.–(BUSINESS WIRE)– Utz Brands, Inc. (NYSE: UTZ) (‘Utz’ or the ‘Company’), a leading U.S. manufacturer of branded salty snacks, today reported financial results for the Company’s fiscal second quarter ended July 3, 2023.
Net Sales increased 17.5% year-over-year to $350.1 million
Organic Net Sales increased 13.6% year-over-year
GAAP Net Income of $2.5 million vs. $16.2 million in the year-ago period
Adjusted EBITDA increased 18.2% year-over-year to $42.2 million
The Company is raising its full-year fiscal 2023 Net Sales and Adjusted EBITDA outlook
‘We are pleased with our second quarter results as we continued our sales momentum, drove market share gains, and delivered double digit Adjusted EBITDA growth,’ said Dylan Lissette, Chief Executive Officer of Utz.