Brief: Utz Brands Inc Q3 Sales Rise 16%

Utz Brands

10/11/2022 12:47

Nov 10 (Reuters) - Utz Brands Inc  UTZ.N :
    * UTZ BRANDS REPORTS THIRD QUARTER RESULTS AND RAISES
FULL-YEAR
2022 OUTLOOK
    * Q3 SALES ROSE 16 PERCENT TO $362.8 MILLION
    * QTRLY ORGANIC NET SALES INCREASED 12.6% YEAR-OVER-YEAR
    * RAISING ITS FULL-YEAR FISCAL 2022 NET SALES AND ADJUSTED
EBITDA
OUTLOOK
    * AGAIN RAISING ITS FULL-YEAR FISCAL 2022 NET SALES AND
ADJUSTED
EBITDA OUTLOOK
    * CONTINUES TO EXPECT GROSS INPUT COST INFLATION IN
MID-TO-HIGH-TEENS FOR FISCAL 2022
    * HAS BEEN TAKING INFLATION-JUSTIFIED PRICING ACTIONS DURING
YEAR
TO HELP OFFSET THESE COST INCREASES
    * EXPECTS TO OFFSET HIGH INFLATION FOR FULL YEAR OF FISCAL
2022
    * FOR FISCAL 2022, RAISING ITS TOTAL NET SALES GROWTH
OUTLOOK FROM
13-15% TO 17-19%
    * INCREASING ITS FISCAL 2022 ADJUSTED EBITDA OUTLOOK FROM
2-5%
GROWTH TO AN UPDATED RANGE OF $166 MILLION TO $170 MILLION
    * Q3 EARNINGS PER SHARE VIEW $0.14, REVENUE VIEW $341.8
MILLION --
REFINITIV IBES DATA
    * QTRLY LOSS PER SHARE $0.01
    * FY2022 EARNINGS PER SHARE VIEW $0.49, REVENUE VIEW $1.35
BILLION
-- REFINITIV IBES DATA
    * QTRLY ADJUSTED EARNINGS PER SHARE   $ 0.16

Source text for Eikon:  ID:nBw6J3xWHa 
Further company coverage:  UTZ.N 
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