Utz Brands, Inc. (NYSE: UTZ ) Q4 2024 Earnings Conference Call: Key Insights
On February 20, 2025, Utz Brands, Inc. held its Fourth Quarter and Full Year 2024 Earnings Conference Call. The call was led by Kevin Powers, Senior Vice President of Investor Relations, Howard Friedman, Chief Executive Officer, and Ajay Kataria, Chief Financial Officer. The following are some of the highlights from the call:
Financial Performance
The company reported strong financial results for the quarter and the year. Net sales for Q4 2024 were $482.1 million, up 10.3% from the same period last year. For the full year, net sales were $1.8 billion, a 7.5% increase from 2023. The company’s gross profit margin expanded by 130 basis points to 24.1% for the full year. Operating income increased by 13.3% to $184.4 million, and net income was $126.8 million, up 15.3% from the previous year.
Business Highlights
Utz Brands continued to make progress on its strategic initiatives. The company’s retail business grew by 8.5% in the quarter, driven by strong demand for its Lund’s and Amys brands. The foodservice business also saw strong growth, up 12.5% in the quarter, driven by new product launches and increased distribution. Utz Brands also announced the acquisition of a leading snack company in Europe, which is expected to add $200 million in annual sales and expand the company’s international footprint.
Outlook
Looking ahead, Utz Brands is optimistic about its growth prospects. The company expects net sales to grow by 7% to 8% in 2025, driven by new product launches, increased distribution, and the acquisition in Europe. The company also expects operating income to grow by 10% to 11%, and net income to be in the range of $142 million to $148 million.
Impact on Consumers
The strong financial performance and strategic initiatives of Utz Brands could lead to several positive developments for consumers. The company’s continued investment in new product launches and increased distribution could result in a wider variety of snack options and greater availability in stores and online. Additionally, the acquisition in Europe could lead to new and innovative snack offerings for consumers around the world.
Impact on the World
Utz Brands’ strong financial performance and strategic initiatives could have a positive impact on the snack industry as a whole. The company’s growth in the retail and foodservice sectors could lead to increased competition and innovation, benefiting consumers and driving industry growth. Additionally, the acquisition in Europe could expand the company’s global footprint and increase competition in the international snack market.
Conclusion
Utz Brands reported strong financial results for Q4 2024 and the full year, driven by growth in its retail and foodservice businesses and the acquisition of a leading snack company in Europe. The company’s optimistic outlook for 2025, including growth in net sales, operating income, and net income, bodes well for investors. Additionally, the company’s strategic initiatives could lead to new product offerings and increased availability of snacks for consumers around the world. Overall, Utz Brands’ continued growth and innovation could have a positive impact on the snack industry and consumers alike.
- Utz Brands reported strong financial results for Q4 2024 and the full year
- Retail business grew by 8.5% in the quarter, driven by Lund’s and Amys brands
- Foodservice business grew by 12.5% in the quarter, driven by new product launches and increased distribution
- Company announced acquisition of leading snack company in Europe, expected to add $200 million in annual sales
- Net sales expected to grow by 7% to 8% in 2025
- Operating income expected to grow by 10% to 11% in 2025
- Impact on consumers: new product offerings and increased availability of snacks
- Impact on the world: increased competition and innovation in the snack industry
