Utz (UTZ) To Report Earnings Tomorrow: Here Is What To Expect

Snack food company Utz Brands (NYSE:UTZ) will be announcing earnings results this Wednesday morning. Here’s what investors should know.

Utz met analysts’ revenue expectations last quarter, reporting revenues of $342.2 million, flat year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates.

Is Utz a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Utz’s revenue to grow 2.8% year on year, improving from the 1.6% increase it recorded in the same quarter last year.

Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing in majority downward revisions over the last 30 days. Utz has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at Utz’s peers in the shelf-stable food segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Hershey delivered year-on-year revenue growth of 10.6%, beating analysts’ expectations by 2.4%, and Lamb Weston reported revenues up 2.9%, topping estimates by 5.2%. Hershey traded down 3.6% following the results while Lamb Weston was also down 6.9%.

Read our full analysis of Hershey’s results here and Lamb Weston’s results here.

Investors in the shelf-stable food segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. Utz’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $12.14 (compared to the current share price of $7.68).

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