By Kelly Cloonan
Shares of Utz Brands gained after the snacks company logged higher sales in its latest quarter, boosted by higher prices and growth in its branded salty snacks category.
The stock rose 9.2%, to $8.40, midday Wednesday, on pace for its largest percent increase since 2024. Shares are down 19% year to date.
The company posted revenue of $361.3 million, 2.6% higher than a year ago and just shy of estimates of $361.8 million from analysts polled by FactSet.
The growth was driven by higher prices, as well as a 5.2% increase in organic net sales for the company's branded salty snacks, which include brands such as Utz, On The Border, Zapp's and Boulder Canyon.
The Hanover, Pa., company swung to a loss of $1.7 million, or 2 cents a share, compared with a profit of $7.5 million, or 9 cents a share, a year earlier. Net income for the year ago quarter benefited from a $11 million gain from a warrant-liability remeasurement, the company said.
Adjusted earnings per share were 15 cents, compared with analyst estimates of 14 cents a share.
Chief Executive Howard Friedman said the snacks category has shown signs of continued improvement with solid growth in the first quarter.
Utz also backed its guidance for full-year sales growth of 2% to 3%.
"Looking ahead to the remainder of 2026, we expect it to remain a dynamic operating environment," Friedman said.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
May 06, 2026 12:33 ET (16:33 GMT)
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