UTZ BRANDS Reports Second Quarter FY2023 Earnings Results on August 10th
August 13, 2023
🌥️Earnings Overview
On August 10 2023, UTZ BRANDS ($NYSE:UTZ) reported earnings results for the second quarter of FY2023, ending June 30 2023. There was a 3.6% year-over-year increase in revenue, amounting to USD 362.9 million, while net income decreased from the previous year’s 3.2 million to USD -4.1 million.
Price History
The stock opened at $16.0 and closed the day at $16.3, representing a 3.2% increase from the prior closing price of $15.8. This marked the highest closing price for UTZ BRANDS in the last three months, surpassing the previous high of $15.8. The results reflected the company’s continued investment in its products, services, and capabilities. UTZ BRANDS reported strong revenue growth from new and existing markets.
Gross margins were up year-over-year as well, benefiting from efficient operations and cost control initiatives. Analysts believe the positive earnings report is likely to have a positive impact on the company’s share price in the long-term. On the back of this report, investors may be more optimistic about the company’s prospects going forward, especially as UTZ BRANDS continues to invest in its product line and develop strategic partnerships with other industry players. Live Quote…
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% |
Analysis
GoodWhale has conducted an analysis of UTZ BRANDS‘ wellbeing, and the results show that this is a medium risk investment in terms of financial and business aspects. Our Risk Rating system has taken into account a number of factors to determine this score, including profitability, liquidity, solvency, and leverage. Moreover, GoodWhale has detected one risk warning in the balance sheet which requires further investigation. If you are a registered user, you can view the details of this warning here. We highly recommend that you take the time to review this warning before making any decisions related to UTZ BRANDS. Overall, GoodWhale’s analysis reveals that UTZ BRANDS is a medium risk investment, and further investigation is warranted before making any decisions. More…
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 their second quarter earnings for FY2023, ending June 30, 2023. Revenue was up 3.6% year-over-year to USD 362.9 million, but net income was down to USD -4.1 million from 3.2 million the prior year. Despite this, the stock price moved up on the news.
Investors may be encouraged by the increasing revenue, and view the decreasing net income as a short-term problem which can be addressed. With UTZ BRANDS showing a revenue growth trend, it may be worth further analysis to see if there is potential for long-term gains.
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