UTZ BRANDS Reports Strong Financial Performance in Q2 FY2023
August 25, 2023
☀️Earnings Overview
UTZ BRANDS ($NYSE:UTZ) reported their financial results for the second quarter of FY2023 on June 30th 2023; total revenue was USD 362.9 million, up 3.6% from the same period in the previous year. However, net income decreased from USD 3.2 million to USD -4.1 million.
Market Price
On Thursday, UTZ BRANDS reported its financial performance for the second quarter of fiscal year 2023, and the results were strong. The company’s stock opened at $16.0 and closed at $16.3, representing a 3.2% increase from the prior closing price of 15.8. This strong performance was driven by a number of factors, including improved operational efficiency and cost-saving measures, as well as an increased focus on developing high-quality products and services.
The strong financial results demonstrate UTZ BRANDS’ commitment to delivering high-quality products and services to customers at a competitive price. Going forward, the company is confident that its strategic efforts will continue to drive growth and profitability over the coming quarters. 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‘s financials and according to our Star Chart, UTZ BRANDS scores an intermediate health score of 6/10 with regard to its cashflows and debt. Our assessment indicates that UTZ BRANDS is likely to be able to pay off its debt and fund future operations. Looking further into the financials, we can see that UTZ BRANDS is strong in medium in dividend, growth, and profitability, but weak in asset. We have classified UTZ BRANDS as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given this information, investors who are looking for short-term gains may be interested in this type of company. The potential returns may be high, but it is important for investors to remember that there is a higher degree of risk associated with investing in companies with lower profitability. 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
Investors may be encouraged by UTZ Brands‘ second quarter FY2023 financial results, which reported total revenue of USD 362.9 million, a 3.6% increase from the previous year. Net income was USD -4.1 million, a decrease from the previous year’s figure of USD 3.2 million. Despite the decreased net income, investors may be optimistic about the increasing revenue, which suggests that the company is still performing well financially.
The stock price for the company moved up the same day, indicating that investors are confident in UTZ Brands’ future growth potential. Therefore, investors may consider investing in UTZ Brands for potential returns.
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