UTZ BRANDS Reports 3.6% Year-Over-Year Revenue Increase for Q2 FY2023
August 28, 2023
☀️Earnings Overview
UTZ BRANDS ($NYSE:UTZ) reported a total revenue of USD 362.9 million for the second quarter of FY2023 ending June 30 2023, representing a 3.6% year-over-year increase. Net income for this period was USD -4.1 million, compared to the 3.2 million in the same quarter of the previous fiscal year.
Analysis
GoodWhale has performed an analysis of UTZ BRANDS‘ fundamentals and classified them as “cheetah” companies based on the Star Chart. These types of companies are characterized by high revenue or earnings growth but lower profitability which make them less stable businesses. Investors interested in such companies are usually those willing to take a higher risk in exchange for potentially higher returns. UTZ BRANDS is strong in medium in dividend, growth, profitability and weak in asset. The company has an intermediate health score of 6/10, meaning their cashflows and debt are sufficient enough to ride out any crisis without the risk of bankruptcy. UTZ BRANDS may be an interesting option for investors looking for a higher risk but potentially rewarding return in the long run. 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 a total revenue of USD 362.9 million for the second quarter of FY2023 ending June 30 2023, up 3.6% year-over-year. While net income for the period was negative at USD -4.1 million, compared to the 3.2 million posted in the same period of 2020, stock prices moved up the same day. This could be seen as a positive sign for investors, indicating that the market is optimistic about the company’s future outlook despite the current losses. Investors should assess the company’s performance over the next few quarters and assess whether UTZ Brands is able to return to profitability in order to consider investing in the company.
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