Utz Brands reports Q2 adjusted EPS 19c, consensus 16c

Reports Q2 revenue $356.2M, consensus $357.22M. “I’m pleased with our continued strong momentum in the second quarter, as we gained dollar, pound, and unit share in the Salty Snack category for the third consecutive quarter. In addition, we delivered our sixth consecutive quarter of year-over-year Adjusted EBITDA Margin expansion, driven by strong Adjusted Gross Profit Margin growth, and we increased Adjusted Earnings per Share by 46%,” said CEO Howard Friedman. “We made necessary adjustments to our promotional activities during the quarter to address consumer value expectations. Our accelerated productivity cost savings provide us the flexibility to both continue to expand our margins and increase investments behind our brands to support our geographic expansion. We expect our growth opportunities will drive strong volume growth in the second half of the year.”