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Utz Brands, Inc. (UTZ) Q1 2021 Earnings Call Transcript


Operator
Good day and thank you for standing by. Welcome to the Utz Brands first-quarter 2021 earnings conference call. [Operator instructions] Please be advised that today s conference is being recorded. [Operator instructions] I would now like to hand the conference over to your speaker today, Kevin Powers, head of investor relations.
Thank you. Please go ahead.
Kevin Powers
Head of Investor Relations
Good morning and thank you for joining us today. On the call today are Dylan Lissette, chief executive officer; and Cary Devore, chief financial officer. During this call, management may make forward-looking statements within the meaning of the federal securities laws. These statements are based on management s current expectations and involve risks and uncertainties that could differ materially from actual events and those described in these forward-looking statements. ....

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(UTZ) - Why Utz Brands Is Trading Lower Today


Share:
Utz Brands Inc (NYSE: UTZ) is trading lower Thursday after the company reported worse-than-expected quarterly earnings and revenue.
Utz is a snack food company that produces a variety of potato chips, pretzels, and other snacks. 
What Happened: Utz reported first-quarter earnings of 13 cents per share, which came in below the estimate of 14 cents per share. It reported revenue of $269.2 million, which came in below the estimate of $274.87 million. 
“In the first quarter, we continued to execute against our value creation strategies to position the company for long-term success. Even as we lapped significant outperformance versus the category in the early weeks of the COVID-19 pandemic last year, we are pleased with our Power brands’ sales momentum and the continued growth in our emerging and expansion geographies,  said CEO Dylan Lissette. ....

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