Company: UTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001739566-25-000153
Chunk: 84

Company: Utz Brands, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 84
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-term incentive programs and asset impairments and hedging and purchase commitments adjustments; remeasurement of warrant liabilities; acquisition, divestiture and integration costs and gains; business transformation initiatives; and financing-related costs.

Adjusted EBITDA is one of the key performance indicators we use in evaluating our operating performance and in making financial, operating, and planning decisions. We believe EBITDA and Adjusted EBITDA are useful to investors in the evaluation of Utz’s operating performance compared to other companies in the salty snack industry, as similar measures are commonly used by companies in this industry; however, we caution that other companies may use different definitions from us and such figures may not be directly comparable to our figures. We also report Adjusted EBITDA as a percentage of net sales as an additional measure for investors to evaluate our Adjusted EBITDA margins on net sales.

The following table provides a reconciliation from net income to EBITDA and Adjusted EBITDA, including as a percentage of net sales, for the thirteen weeks ended and twenty-six weeks ended June 29, 2025 and June 30, 2024:

(dollars in millions)Thirteen weeks ended June 29, 2025Thirteen weeks ended June 30, 2024Twenty-six weeks ended June 29, 2025Twenty-six weeks ended June 30, 2024Net income$10.1 $25.4 $15.8 $27.8 Non-GAAP adjustments:Income Tax (Benefit) Expense(3.2)(1.3)(3.8)25.2 Depreciation and Amortization21.3 17.6 40.0 35.9 Interest Expense, Net11.4 10.2 22.9 24.0 Interest Income (IO loans)(1)(0.5)(0.1)(1.0)(0.9)EBITDA39.1 51.8 73.9 112.0 Certain Non-Cash Adjustments(2)5.4 4.9 11.1 8.9 Acquisitions, Divestitures and Investments(3)9.6 1.1 17.0 (37.3)Business Transformation Initiatives(4)7.1 4.5 14.5 10.3 Financing-Related Costs(5)— 0.3 0.8 0.3