Utz Brands Fourth-Quarter Sales Report

by webmaster

Utz Brands faced a setback in its fourth-quarter sales due to a lower price realization and its strategic move to reduce private-label offerings.

Willing to try automated trading?
See the best forex robots rating to make the right choice.
Explore the list here >

Financial Performance

The snack manufacturer reported a fourth-quarter loss of $27.7 million, or 34 cents a share, marking a significant decrease from the previous year’s profit of $14.9 million, or 18 cents a share. Adjusted earnings stood at 16 cents per share, in line with analysts’ forecasts.

Sales Figures

Total sales for the quarter dropped by almost 1% to $352.1 million, falling short of analysts’ expectations of $354.6 million. Organic sales experienced a slight decline of 0.3%, as a 0.5% increase in volume and product mix was offset by a 0.8% decrease in realized pricing.

Impact of Strategic Initiatives

Utz attributed the decline in sales to its strategic decision to reduce private-label and partner-brand offerings during the quarter. This move impacted overall revenue figures.

Future Outlook

Looking ahead to 2024, Utz Brands aims for organic sales growth of 3% or higher, primarily driven by volume expansion. The company also anticipates adjusted earnings to grow between 16% and 21% in the coming year.

For more information, visit Utz Brands’ official website.

Willing to try automated trading?
See the best forex robots rating to make the right choice.
Explore the list here >

Related Articles

Leave a Comment

+ 42 = 47