Utz Swings To Profit In Q4, Beats Estimates

(RTTNews) - Utz Brands, Inc. (UTZ), a snack food company, Thursday announced a turn-around to profit in fourth quarter, compared to loss last year.

For the fourth quarter, net income was $2.12 million, compared to loss of $33.21 million last year.

Earings per share were $0.03 versus loss of $0.34 the previous year.

On the adjusted basis, net income increased 41 percent to $32.4 million from $22.9 million the previous year.

Adjusted earnings per share were $0.22 versus $0.16 in the previous year.

Analysts, on average, had expected the company to earn $0.19 per share. Analysts' estimates typically exclude special items.

For fiscal year 2025, the company expects low single-digit growth in organic net sales.

Adjusted EBITDA is projected to increase by 6% to 10%, while adjusted earnings per share are expected to grow by 10% to 15%.

In the pre-market trading, Utz Brands is 2.08% higher at $13.75 on the New York Stock Exchange.