Utz Brands up after raising annual sales, earnings forecasts

Utz Brands

11/08/2022 18:28

** Shares of snacks maker Utz Brands Inc  UTZ.N  up ~2% at
$18.52 in afternoon trading 
    ** UTZ lifts its forecasts for fiscal 2022 sales and profit,
boosted by higher prices and strong demand for its salty snacks 
    ** Now sees net sales growth between 13%-15% vs prior
outlook for 10%-13% growth  urn:newsml:reuters.com:*:nASA03L33
    ** Expects 2022 adjusted earnings before interest, taxes,
depreciation, and amortization (EBITDA) to rise 2% to 5%,
compared with prior estimate for modest growth 
    ** Co's Q2 organic sales jump 13.6%, with net sales of
$350.1 mln beating analysts' estimates of $335.4 mln, according
to Refinitiv data
    ** With session's moves, UTZ shares up ~16% YTD

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))