The following is a summary of the Utz Brands, Inc. (UTZ) Q3 2024 Earnings Call Transcript:
Financial Performance:
Utz reaffirmed its full year organic growth outlook of 2% to 2.5%, despite a 1.9% growth reported in Q3, anticipating a stronger Q4.
Gross margin improved, and the company exhibited strong productivity gains, which they expect to continue into future quarters.
Business Progress:
Utz Brands continues to focus on marketing, innovation, and distribution gains, particularly through expansion geographies.The company is progressing well in building its distribution, especially with larger national retailers, and in both alternative and core channels.
Opportunities:
Utz Brands sees opportunities in improving distribution and the performance of foundation brands and power brands, especially in core and expansion geographies.
Risks:
A heightened competitive environment, especially in the potato chips segment, presents a risk. The company notes increased promotional activity by competitors.
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