2023-05-11 06:35:41 ET
- Utz Brands press release ( NYSE: UTZ ): Q1 Non-GAAP EPS of $0.11 beats by $0.01 .
- Revenue of $351.4M (+3.1% Y/Y) misses by $1.06M .
The company is reaffirming its net sales outlook and raising its Adjusted EBITDA outlook for FY2023:
- Total net sales growth of 3% to 5% and Organic Net Sales growth of 4% to 6%.
- Adjusted EBITDA growth of 7% to 10% (previously 6% to 10% growth) as gross margin expansion is expected to more than offset higher advertising and marketing expenses, and continued investments in capabilities and selling infrastructure.
- An effective tax rate (normalized GAAP basis tax expense, which excludes one-time items) in the range of 20% to 22%.
- Interest expense of approximately $55 million.
- Capital expenditures in the range of $50 to $55 million.
- Net Leverage Ratio below 4.5x at year-end fiscal 2023.
For further details see:
Utz Brands Non-GAAP EPS of $0.11 beats by $0.01, revenue of $351.4M misses by $1.06M