Utz Brands reports Q3 adjusted EPS 23c, consensus 23c

Reports Q3 revenue $377.8M, consensus $374.25M. “Utz delivered another quarter of strong performance, demonstrating both top-line and adjusted earnings growth,” said CEO Howard Friedman. “We achieved Net Sales growth of 3.4%, Branded Salty Snacks Organic Net Sales growth of 5.8%, and gained both dollar and volume share in the Salty Snacks category, marking our ninth consecutive quarter of volume share growth…Today, we are also announcing plans to expand our presence in California. As part of an expanded California strategy, we have acquired select distribution assets in the state to provide us with the infrastructure and capabilities to accelerate our market penetration…” “We are raising our 2025 Organic Net Sales outlook again to reflect stronger revenue trends through the third quarter and our confidence in the remainder of the year,” said CFO BK Kelley. “We now expect Organic Net Sales growth of approximately 3%, driven by our advantaged portfolio of brands and expansion geographies. We believe our various working capital initiatives, in combination with Adjusted EBITDA growth, will contribute significantly to our deleveraging efforts as we finish the year. Looking forward, as we move past our multi-year capex investments, free cash flow will be a key priority at Utz.”