2023-08-10 06:33:20 ET
- Utz Brands press release ( NYSE: UTZ ): Q2 Non-GAAP EPS of $0.13 beats by $0.01 .
- Revenue of $362.9M (+3.7% Y/Y) beats by $2.31M .
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The Company is reaffirming its Net Sales outlook and raising its Adjusted EBITDA outlook for fiscal 2023:
- Total net sales growth of 3% to 5% and Organic Net Sales growth of 4% to 6%, with the Company’s continued shift to IOs impacting total net sales growth by approximately (1.0%).
- Adjusted EBITDA growth of 8% to 11% (previously 7% to 10% growth)
- 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; and
- Net Leverage Ratio below 4.5x at year-end fiscal 2023.
For further details see:
Utz Brands Non-GAAP EPS of $0.13 beats by $0.01, revenue of $362.9M beats by $2.31M