Why UTZ Brands Shares Are Trading Lower Today

UTZ Brands Inc UTZ shares are trading lower Thursday morning after the company reported worse-than-expected second-quarter EPS results and issued FY21 EPS guidance below analyst estimates.

UTZ Brands reported quarterly earnings of 13 cents per share which missed the analyst consensus estimate of 15 cents per share. The company reported quarterly sales of $299.20 million which beat the analyst consensus estimate of $290.29 million.

Dylan Lissette, Chief Executive Officer of Utz said, "In the second quarter, our two-year pro forma net sales growth trends continued to improve as our Power Brands' sales grew significantly faster than the Salty Snack Category in our Emerging and Expansion geographies, and our channels most impacted by COVID-related softness are rebounding."

"While consumer demand for our products remains strong, our second quarter margins were significantly impacted by higher than planned inflation across key input costs which include commodities, transportation and labor," Lissette said.

UTZ Brands is a snack food manufacturing company. UTZ Brands has a 52-week high of $30.09 and a 52-week low of $13.55.