Utz Brands Inc
For the period ended Sep 29, 2024. Filed Oct 31, 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.
Sep 29, 2024 · Filed Oct 31, 2024
UTZ$14.25+0.1%Stored close · as of Nov 10, 2026
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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
For the thirteen and thirty-nine weeks ended September 29, 2024 and October 1, 2023
| (in thousands) | Thirteen weeks ended September 29, 2024 | Thirteen weeks ended October 1, 2023 | Thirty-nine weeks ended September 29, 2024 | Thirty-nine weeks ended October 1, 2023 |
|---|---|---|---|---|
| Net sales | $365,523 | $371,852 | $1,068,236 | $1,086,138 |
| Cost of goods sold | 234,500 | 252,583 | 692,886 | 744,980 |
| Gross profit | 131,023 | 119,269 | 375,350 | 341,158 |
| Selling, distribution, and administrative expenses | ||||
| Selling and distribution | 80,140 | 70,973 | 227,586 | 202,888 |
| Administrative | 29,901 | 34,531 | 96,496 | 123,155 |
| Total selling, distribution, and administrative expenses | 110,041 | 105,504 | 324,082 | 326,043 |
| (Loss) gain on sale of assets, net | (1,501) | (8,488) | 402 | (9,275) |
| Income from operations | 19,481 | 5,277 | 51,670 | 5,840 |
| Other (expense) income, net | ||||
| Gain on sale of business | — | — | 44,015 | — |
| Interest expense | (12,591) | (15,537) | (36,631) | (44,934) |
| Loss on debt extinguishment | — | — | (1,273) | — |
| Other income | 450 | 392 | 1,558 | 2,279 |
| (Loss) gain on remeasurement of warrant liability | (6,408) | 15,984 | (5,328) | 16,560 |
| Other (expense) income, net | (18,549) | 839 | 2,341 | (26,095) |
| Income (loss) before taxes | 932 | 6,116 | 54,011 | (20,255) |
| Income tax expense (benefit) | 160 | (10,099) | 25,395 | (13,435) |
| Net income (loss) | 772 | 16,215 | 28,616 | (6,820) |
| Net (income) loss attributable to noncontrolling interest | (2,970) | (222) | (14,956) | 9,562 |
| Net (loss) income attributable to controlling interest | $(2,198) | $15,993 | $13,660 | $2,742 |
| (Loss) income per Class A Common stock: (in dollars) | ||||
| Basic | $(0.03) | $0.20 | $0.17 | $0.03 |
| Diluted | $(0.03) | $0.19 | $0.16 | $0.03 |
| Weighted-average shares of Class A Common stock outstanding | ||||
| Basic | 82,445,064 | 81,141,417 | 81,763,848 | 81,060,961 |
| Diluted | 82,445,064 | 83,444,275 | 84,948,754 | 83,567,756 |
| Net income (loss) | $772 | $16,215 | $28,616 | $(6,820) |
| Other comprehensive (loss) income: | ||||
| Change in fair value of interest rate swap | (15,471) | 4,047 | (12,954) | 3,294 |
| Comprehensive (loss) income | (14,699) | 20,262 | 15,662 | (3,526) |
| Net comprehensive loss (income) attributable to noncontrolling interest | 3,447 | (1,932) | (9,601) | 8,173 |
| Net comprehensive (loss) income attributable to controlling interest | $(11,252) | $18,330 | $6,061 | $4,647 |
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