Business
Utz Brands Reports Second Quarter 2026 Results; Company Recently Announced Agreement to Take Utz Private
Utz Brands Reports Second Quarter 2026 Results; Company Recently Announced Agreement to Take Utz
About this update from Utz Brands Inc
HANOVER, Pa- Utz Brands, Inc. (NYSE: UTZ) ('Utz' or the 'Company'), a leading U.S . manufacturer of branded Salty Snacks and a small-cap growth and value Staples equity, today reported financial results for the Company's second fiscal quarter ended June 28, 2026 . 2Q'26 Summary(1) Net Sales increased 1.4% to $371.8 million Total Organic Net Sales increased 1.4%; Branded Salty Snacks Organic Net Sales increased 3.3% Gross Profit Margin decrease of 10bps Adjusted Gross Profit Margin expansion of 150bps Net Income decreased to $(16.0) million Adjusted Net Income increased 14.8% to $27.1 million EBITDA decreased 55.5% to $17.4 million Adjusted EBITDA increased 14.4% to $55.7 million Diluted Earnings Per Share decreased to $(0.11) Adjusted Earnings Per Share increased 11.8% to $0.19 Cash Flow Provided by Operations was $11.7 million Adjusted Free Cash Flow improved to $(0.7) million Net Leverage Ratio improved and decreased 0.6x to 3.5x (1) All comparisons for the second quarter of 2026 are to the second quarter of 2025 (ended June 29 , 2025). 'We delivered another quarter of solid growth in net sales and Adjusted EBITDA, led by 3.3% Branded Salty Snacks growth,' said Howard Friedman , Chief Executive Officer of Utz. 'I was pleased with our execution in the quarter and the business performance through the first half, including the continued year-over-year improvement in adjusted free cash flow and net leverage.' Recent Agreement to Take Utz Private On July 20, 2026 , Utz and Intersnack Group GmbH & Co. KG ('Intersnack Group' or ' Intersnack ') entered into a definitive agreement pursuant to which certain subsidiaries of Intersnack Group will acquire all outstanding shares of Class A Common Stock of the Company for $14.25 per share in cash. Upon closing the transaction, Utz will become a private company with the Rice and Lissette Family Entities (the 'Rice and Lissette Family') and Intersnack Group each owning 50% of Utz. As such, the Company will not provide its outlook for 2026 and will not hold a conference call to discuss the Company's financial results for the second quarter and year-to-date period ended June 28, 2026 . The Company expects the transaction to close in the fourth quarter of 2026, subject to satisfaction of closing conditions. See full release at: https://investors.utzsnacks.com/news/news-details/2026/Utz-Brands-Reports-Second-Quarter-2026-Results/default.aspx (C) 2026 Electronic News Publishing, source ENP Newswire