Company: UTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001739566-25-000153
Chunk: 110

Company: Utz Brands, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 2
Chunk 110
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 which the loans are made. Accordingly, the Company has the ability to recover substantially all of the outstanding loan value upon default. Refer to Note 10. Contingencies.

26

Cash Flow

The following table presents net cash provided by or used in operating activities, investing activities and financing activities for the twenty-six weeks ended June 29, 2025 and June 30, 2024.

(in millions)Twenty-six weeks ended June 29, 2025Twenty-six weeks ended June 30, 2024Net cash used in operating activities$(3.9)$(0.2)Net cash (used in) provided by investing activities$(71.3)$141.0 Net cash provided by (used in) financing activities$73.7 $(126.2)

Net cash used in operating activities for the twenty-six weeks ended June 29, 2025 was $3.9 million compared to $0.2 million for the twenty-six weeks ended June 30, 2024, with the difference largely driven by timing related to increases in accounts receivable, net of $31.8 million, increases in inventories of $20.2 million; partially offset by increases in accounts payable and accrued expenses and other of $46.6 million.

Cash used in investing activities for the twenty-six weeks ended June 29, 2025 was $71.3 million, primarily driven by purchases of property and equipment. This compares to the cash provided by investing activity of $141.0 million for the twenty-six weeks ended June 30, 2024 primarily driven by proceeds from the Good Health and R.W. Garcia Sale of $167.5 million, and from sale of property and equipment primarily related to the Berlin, PA and Fitchburg, MA manufacturing facilities See Note 2. Divestitures.  This was partially offset by purchases of property and equipment as well as a purchase of intangibles related to an indefinite life intangible right for the use of a third-party brand name in the twenty-six weeks ended June 30, 2024.

Net cash provided by financing activities was $73.7 million for the twenty-six weeks ended June 29, 2025, primarily driven by net borrowings on line of credit, term debt and notes payable of $111.3 million, partially offset by the payment of dividends and distributions to noncontrolling interest holders, payments of employee stock awards tax withholdings and debt issuance costs. This compares to net