Company: UTZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001739566-25-000111
Chunk: 89

Company: Utz Brands, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 89
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 before taxes5,053 28,941 Income tax (benefit) expense(625)26,544 Net income 5,678 2,397 Net loss (income) attributable to noncontrolling interest1,824 (6,387)Net income (loss) attributable to controlling interest$7,502 $(3,990)

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Thirteen weeks ended March 30, 2025 versus Thirteen weeks ended March 31, 2024

Net sales

Net sales were $352.1 million and $346.5 million for the thirteen weeks ended March 30, 2025 and March 31, 2024, respectively. Net sales for the thirteen weeks ended March 30, 2025 increased $5.6 million or 1.6% over the comparable period in 2024. The 1.6% increase in net sales was related to favorable volume/mix of 6.3% as further discussed below, offset by 3.4% attributable to lower net price realization and 1.3% related to the Good Health and R.W. Garcia Sale . IO discounts increased to $44.7 million for the thirteen weeks ended March 30, 2025, up from $44.4 million for the corresponding thirteen weeks ended March 31, 2024.

Sales are evaluated based on classification as Branded Salty Snacks or Non-Branded & Non-Salty Snacks, consisting of partner brands, private label, co-manufacturing for which Utz is the manufacturer, Utz branded non-salty snacks such as On The Border® Dips and Salsas and sales not attributable to specific brands. For the thirteen weeks ended March 30, 2025, Branded Salty Snacks and Non-Branded & Non-Salty Snacks totaled 87% and 13% of our net sales, respectively. For the thirteen weeks ended March 30, 2025 versus the comparable prior year period, Branded Salty Snacks net sales increased by 4.9% and Non-Branded & Non-Salty Snacks net sales decreased by 16.0%, of which 7.2% of the decrease relates to the Good Health and R.W. Garcia Sale in Non-Branded & Non-Salty Snacks due to its disposition in the prior year.  

Cost of goods sold and Gross profit

Gross profit was $118.2