Company: UTZ
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001739566-25-000053
Chunk: 86

Company: Utz Brands, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 86
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 year ended December 29, 2024 to the results of operations for the fiscal year ended December 31, 2023. Refer to Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations, in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, for discussion of the results of operations for the fiscal year ended December 31, 2023, compared to the fiscal year ended January 1, 2023, which is incorporated by reference herein. 

(in millions)For the Fiscal Year Ended December 29, 2024For the Fiscal Year Ended December 31, 2023Net sales$1,409,281 $1,438,237 Cost of goods sold914,504 981,751 Gross profit494,777 456,486 Selling, distribution and administrative expensesSelling and distribution306,151 273,923 Administrative129,642 159,196 Total selling, distribution, and administrative expenses435,793 433,119 (Loss) gain on sale of assets, net(78)(7,350)Income from operations58,906 16,017 Other (expense) incomeGain on sale of business44,015 — Interest expense(44,862)(60,590)Loss on debt extinguishment(1,273)— Other income2,457 3,066 Gain on remeasurement of warrant liability10,224 2,232 Other expense, net10,561 (55,292)Income (loss) before income taxes69,467 (39,275)Income tax expense38,730 757 Net income (loss)30,737 (40,032)    Net (income) loss attributable to noncontrolling interest(14,763)15,095 Net income (loss) attributable to controlling interest$15,974 $(24,937)

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Fiscal Year Ended December 29, 2024 versus Fiscal Year Ended December 31, 2023

Net sales

Net sales were $1,409.3 million for the fiscal year ended December 29, 2024 and $1,438.2 million for the fiscal year ended December 31, 2023. Net sales for the fiscal year ended December 29, 2024 decreased $28.9 million or 2.0% from fiscal year 2023