Utz Brands reports Q3 adjusted EPS 21c, consensus 20c

Reports Q3 revenue $365.5M, consensus $363.98M. “In Q3 our momentum continued with solid Organic Net Sales growth, our seventh consecutive quarter of Adjusted EBITDA Margin expansion, and Adjusted EPS growth of nearly 24%,” said CEO Howard Friedman. “We are executing well on our distribution growth opportunities, and we believe our accelerated productivity cost savings will give us the flexibility to expand our margins and increase investments in our brands to support our continued growth. While we continue to expect a more competitive promotional environment in response to consumers seeking value, we will continue to make appropriate adjustments to our activities to meet consumer expectations. We are on track to meet our full-year financial targets, and we look forward to a strong finish to the year.”