UTZ BRANDS Reports 3.6% Increase in Total Revenue for FY2023 Q2
August 22, 2023
☀️Earnings Overview
For the second quarter of FY2023, ending June 30 2023, UTZ BRANDS ($NYSE:UTZ) reported a total revenue of USD 362.9 million, up 3.6% from the same period in the previous year. However, the company’s net income decreased from USD 3.2 million for the same quarter in the prior year to USD -4.1 million.
Analysis
GoodWhale’s analysis of UTZ BRANDS‘ financials has determined that the company is a medium risk investment from a financial and business perspective. Risk Rating was used to assess the company, with 1 risk warning detected in the balance sheet. If you are interested in learning more about this risk warning, it is recommended that you register with GoodWhale to uncover further details. UTZ BRANDS has demonstrated good financial performance in areas such as total revenues, operating income, and earnings per share. Additionally, their debt-to-equity ratio is within an acceptable range, indicating that their debt is well managed. However, with any investment there are risks that must be considered. GoodWhale’s analysis identified one risk warning in UTZ BRANDS’ balance sheet, which should be investigated further before making an investment decision. Registering with GoodWhale will give you access to more detailed information about this risk warning, enabling you to make a more informed decision. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Utz Brands. More…
| Total Revenues | Net Income | Net Margin |
| 1.43k | 0.75 | 0.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Utz Brands. More…
| Operations | Investing | Financing |
| 70.15 | -59.6 | 42.98 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Utz Brands. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.84k | 1.42k | 8.49 |
Key Ratios Snapshot
Some of the financial key ratios for Utz Brands are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.2% | -17.2% | 1.2% |
| FCF Margin | ROE | ROA |
| 0.9% | 1.6% | 0.4% |
Peers
The competition between Utz Brands Inc and its competitors is fierce. Each company is vying for market share and customer loyalty. Utz Brands Inc has a strong brand and loyal following, but its competitors are not to be underestimated. Sanderson Farms Inc, Cal-Maine Foods Inc, and The Simply Good Foods Co are all major players in the packaged food industry. They each have their own strengths and weaknesses, but they all pose a serious threat to Utz Brands Inc.
– Sanderson Farms Inc ($NASDAQ:CALM)
Cal-Maine Foods Inc is an American egg producer. The company was founded in 1969 and is headquartered in Jackson, Mississippi. Cal-Maine Foods is the largest producer of fresh eggs in the United States, with approximately 32 million laying hens and a 15% share of the US egg market. The company sells its eggs under the brands Eggland’s Best, Farmhouse, and David’s.
Cal-Maine Foods has a market cap of 2.81B as of 2022 and a Return on Equity of 20.18%. The company is the largest producer of fresh eggs in the United States, with approximately 32 million laying hens and a 15% share of the US egg market. The company sells its eggs under the brands Eggland’s Best, Farmhouse, and David’s.
– Cal-Maine Foods Inc ($NASDAQ:SMPL)
The Simply Good Foods Co has a market cap of 3.74B as of 2022, a Return on Equity of 7.5%. The company produces and sells low-carbohydrate, high-protein food products under the Atkins, Simply Good Foods, and Scharffen Berger brands. It has a wide variety of products, including bars, shakes, meals, and snacks. The company’s products are designed to help people lose weight and manage their blood sugar levels.
Summary
UTZ BRANDS reported total revenue of USD 362.9 million for the second quarter of FY2023, an increase of 3.6% from the previous year. Net income decreased to USD -4.1 million, down from USD 3.2 million in the same quarter the prior year. The stock price rose the same day, indicating investor confidence in the company’s performance. Going forward, investors should look at UTZ BRANDS’ quarterly financial statements to assess the company’s financial health and determine whether or not it is a good investment.
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