Utz Brands Inc
For the period ended Jun 30, 2024. Filed Aug 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 1, 2024
UTZ$14.25+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
For the thirteen and twenty-six weeks ended June 30, 2024 and July 2, 2023
| (in thousands) | Thirteen weeks ended June 30, 2024 | Thirteen weeks ended July 2, 2023 | Twenty-six weeks ended June 30, 2024 | Twenty-six weeks ended July 2, 2023 |
|---|---|---|---|---|
| Net sales | $356,190 | $362,853 | $702,713 | $714,286 |
| Cost of goods sold | 231,436 | 245,460 | 458,386 | 492,397 |
| Gross profit | 124,754 | 117,393 | 244,327 | 221,889 |
| Selling, distribution, and administrative expenses | ||||
| Selling and distribution | 73,780 | 66,869 | 147,446 | 131,915 |
| Administrative | 30,813 | 47,584 | 66,595 | 88,624 |
| Total selling, distribution, and administrative expenses | 104,593 | 114,453 | 214,041 | 220,539 |
| Gain (loss) on sale of assets, net | 2,373 | (279) | 1,903 | (787) |
| Income from operations | 22,534 | 2,661 | 32,189 | 563 |
| Other income (expense), net | ||||
| Gain on sale of business | — | — | 44,015 | — |
| Interest expense | (10,209) | (15,019) | (24,040) | (29,397) |
| Loss on debt extinguishment | (1,273) | — | (1,273) | — |
| Other income | 198 | 272 | 1,108 | 1,887 |
| Gain on remeasurement of warrant liability | 12,888 | 2,808 | 1,080 | 576 |
| Other income (expense), net | 1,604 | (11,939) | 20,890 | (26,934) |
| Income (loss) before taxes | 24,138 | (9,278) | 53,079 | (26,371) |
| Income tax (benefit) expense | (1,309) | (725) | 25,236 | (3,336) |
| Net income (loss) | 25,447 | (8,553) | 27,843 | (23,035) |
| Net (income) loss attributable to noncontrolling interest | (5,599) | 4,429 | (11,986) | 9,784 |
| Net income (loss) attributable to controlling interest | $19,848 | $(4,124) | $15,857 | $(13,251) |
| Income (loss) per Class A Common stock: (in dollars) | ||||
| Basic | $0.24 | $(0.05) | $0.19 | $(0.16) |
| Diluted | $0.23 | $(0.05) | $0.19 | $(0.16) |
| Weighted-average shares of Class A Common stock outstanding | ||||
| Basic | 81,457,014 | 81,063,457 | 81,423,240 | 81,020,732 |
| Diluted | 84,954,412 | 81,063,457 | 84,762,662 | 81,020,732 |
| Net income (loss) | $25,447 | $(8,553) | $27,843 | $(23,035) |
| Other comprehensive income (loss): | ||||
| Change in fair value of interest rate swap | (2,142) | 9,572 | 2,517 | (753) |
| Comprehensive income (loss) | 23,305 | 1,019 | 30,360 | (23,788) |
| Net comprehensive (income) loss attributable to noncontrolling interest | (4,696) | 383 | (13,048) | 10,105 |
| Net comprehensive income (loss) attributable to controlling interest | $18,609 | $1,402 | $17,312 | $(13,683) |
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