Utz Brands | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 371.8 M

Revenue: As of FY2026 Q2, the actual value is USD 371.8 M, missing the estimate of USD 374.18 M.

EPS: As of FY2026 Q2, the actual value is USD -0.11.

EBIT: As of FY2026 Q2, the actual value is USD -5.5 M.

Second Quarter 2026 Financial Highlights (13-Weeks Ended June 28, 2026 vs. June 29, 2025)

Revenue

• Net Sales increased by 1.4% to $371.8 million.
• Organic Net Sales increased by 1.4% year-over-year.
• Branded Salty Snacks Organic Net Sales, representing 89% of total Net Sales, increased by 3.3%.
• Non-Branded & Non-Salty Snacks Organic Net Sales declined by 12.1%.
• The increase in Organic Net Sales was driven by a favorable net price realization of 3.6%, partially offset by a 2.2% decrease in volume/mix.

Profitability

• Gross Profit was $96.2 million, an increase of 0.9%.
• Gross Profit Margin decreased by 10 basis points to 25.9%.
• Adjusted Gross Profit increased by 6.4% to $123.6 million.
• Adjusted Gross Profit Margin expanded by 150 basis points to 33.2%.
• Net Income decreased to - $16.0 million, compared to $10.1 million in the prior year period.
• Adjusted Net Income increased by 14.8% to $27.1 million.
• EBITDA decreased by 55.5% to $17.4 million.
• Adjusted EBITDA increased by 14.4% to $55.7 million, or 15.0% as a percentage of Net Sales.

Operational Costs

• Selling, General, and Administrative Expenses (SG&A) were $101.3 million, or 27.2% of Net Sales, compared to $88.0 million, or 24.0% of Net Sales, in the prior year.
• Adjusted SG&A Expenses were $67.9 million, or 18.3% of Net Sales, compared to $67.4 million, or 18.4% of Net Sales, in the prior year.

Cash Flow and Balance Sheet

• Cash Flow Provided by Operations was $11.7 million.
• Adjusted Free Cash Flow improved to - $0.7 million.
• The Net Leverage Ratio improved by 0.6x to 3.5x.

Year-to-Date 2026 Financial Highlights (26-Weeks Ended June 28, 2026 vs. June 29, 2025)

Revenue

• Net Sales increased by 2.0% to $733.1 million.
• Organic Net Sales increased by 2.0% year-over-year.
• Branded Salty Snacks Organic Net Sales increased by 4.2%.
• Non-Branded & Non-Salty Snacks Organic Net Sales declined by 13.3%.

Profitability

• Gross Profit was $188.1 million, an increase of 5.9%.
• Gross Profit Margin increased by 100 basis points to 25.7%.
• Adjusted Gross Profit increased by 8.1% to $235.0 million.
• Adjusted Gross Profit Margin expanded by 190 basis points to 32.1%.
• Net Income decreased to - $18.4 million, compared to $15.8 million in the prior year period.
• Adjusted Net Income increased by 5.4% to $48.4 million.
• EBITDA decreased by 35.5% to $47.7 million.
• Adjusted EBITDA increased by 10.4% to $103.6 million, or 14.1% as a percentage of Net Sales.

Operational Costs

• Selling, General, and Administrative Expenses (SG&A) were $186.7 million, or 25.5% of Net Sales, compared to $165.4 million, or 23.0% of Net Sales, in the prior year.
• Adjusted SG&A Expenses were $131.4 million, or 17.9% of Net Sales, compared to $123.5 million, or 17.2% of Net Sales, in the prior year.

Cash Flow and Balance Sheet

• Cash flow used in operations was - $0.5 million.
• Adjusted Free Cash Flow was - $26.6 million.
• Capital expenditures were $27.4 million.
• Dividends and distributions paid were $18.8 million.
• As of June 28, 2026, total liquidity was $212.7 million, consisting of $58.6 million in cash on hand and $154.1 million available under the revolving credit facility.
• Net debt was $791.0 million, resulting in a Net Leverage Ratio of 3.5x based on trailing twelve months Adjusted EBITDA of $226.3 million.

Fiscal Year 2026 Outlook

Utz Brands, Inc. will not provide its outlook for fiscal year 2026 due to a pending agreement to take the company private. Intersnack Group GmbH & Co. KG will acquire all outstanding shares of Class A Common Stock for $14.25 per share in cash, with the transaction expected to close in the fourth quarter of 2026. Upon closing, the Rice and Lissette Family Entities and Intersnack Group will each own 50% of the company.