Utz Brands heads for best day in over 2 years on sales forecast hike

Utz Brands

10/11/2022 15:14

** Shares of snacks maker Utz Brands Inc  UTZ.N  rise as
much as 8% to near three-month high of $17.57
    ** Stock on course for best day since August 2020 if gains
hold
    ** Co raises annual sales forecast on strong demand for its
salty snacks despite higher prices
    ** UTZ expects 2022 net sales to grow 17%-19%, compared to
prior forecast of 13%-15%
    ** Company also beats Q3 sales and profit estimates
    ** UTZ posts adjusted EPS of 16 cents, topping estimates of
14 cents, per Refinitiv IBES data
    ** Stock has risen ~9% this year
 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))