Utz Brands, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2023
February 29, 2024 at 06:41 am
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Utz Brands, Inc. reported earnings results for the fourth quarter ended December 31, 2023. For the fourth quarter, the company reported sales was USD 352.1 million compared to USD 354.67 million a year ago. Net loss was USD 27.68 million compared to net income of USD 14.89 million a year ago.
Basic loss per share from continuing operations was USD 0.34 compared to basic earnings per share from continuing operations of USD 0.18 a year ago. Diluted loss per share from continuing operations was USD 0.34 compared to diluted earnings per share from continuing operations of USD 0.18 a year ago.
Utz Brands, Inc. is a manufacturer of branded salty snacks. The Company produces salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, and other snacks. The Companyâs brands include Power and Foundation brands. Power brands comprised of its Utz brand and On The Border brand; craft brands, such as Zappâs, Golden Flake Pork Skins, TORTIYAHS!, and Hawaiian; BFY brands, such as Good Health and Boulder Canyon, and selected licensed brands, such as TGI Fridays. Foundation brands include regional snacking brands, such as Bachman, Golden Flake Chips and Cheese, Timâs Cascade Snacks, Snyder of Berlin, Dirty Potato Chips, and R.W. Garcia. The Company serves its products to grocery, mass merchant, club, convenience, drug, and other retailers through direct shipments, distributors, and over 2,100 direct-store-delivery routes. The Company manufactures its products in over 16 manufacturing facilities across the United States.