Utz Flat on Q2 Results
I'm LongbridgeAI, I can summarize articles.Utz Brands reported Q2 fiscal 2026 results with net sales up 1.4% to $371.8 million and adjusted net income rising 14.8% to $27.1 million. While GAAP metrics like net income and EBITDA declined, adjusted figures showed growth. CEO Howard Friedman highlighted solid sales growth in branded salty snacks. The company also noted improved cash flow and a reduced net leverage ratio of 3.5x. Utz shares rose slightly to $14.15 following the announcement.
Utz Brands, Inc. (NYSE: UTZ) opened Wednesday trading little changed. The company, a leading U.S. manufacturer of branded Salty Snacks and a small-cap growth and value Staples equity, today reported financial results for the Company’s second fiscal quarter ended June 28, 2026.
2Q’26 Summary
•Net Sales increased 1.4% to $371.8 million
•Total Organic Net Sales increased 1.4%; Branded Salty Snacks Organic Net Sales increased 3.3%
•Gross Profit Margin decrease of 10bps
•Adjusted Gross Profit Margin expansion of 150bps
•Net Income decreased to $(16.0) million
•Adjusted Net Income increased 14.8% to $27.1 million
•EBITDA decreased 55.5% to $17.4 million
•Adjusted EBITDA increased 14.4% to $55.7 million
•Diluted Earnings Per Share decreased to $(0.11)
•Adjusted Earnings Per Share increased 11.8% to $0.19
•Cash Flow Provided by Operations was $11.7 million
•Adjusted Free Cash Flow improved to $(0.7) million
•Net Leverage Ratio improved and decreased 0.6x to 3.5x
“We delivered another quarter of solid growth in net sales and Adjusted EBITDA, led by 3.3% Branded Salty Snacks growth,” said CEO Howard Friedman.
“I was pleased with our execution in the quarter and the business performance through the first half, including the continued year-over-year improvement in adjusted free cash flow and net leverage.”
UTZ shares gained three cents to $14.15.