Results were largely in line with expectations and guidance was reaffirmed, suggesting limited near-term catalyst. Watch for continued margin expansion trajectory and leverage reduction toward 3.0-3.2x by year-end; the $50M buyback authorization provides downside support but has not been utilized.
Price Chart
Executive Summary
Utz Brands reported Q1 2026 results with 2.6% organic net sales growth and 5.2% Branded Salty Snacks growth, while reaffirming all aspects of FY2026 guidance. Adjusted EBITDA grew 6.2% YoY to $47.9M, but GAAP net loss widened to $(2.4)M and adjusted EPS declined 6.3% to $0.15, in line with the guided decline. The company highlighted significant improvement in adjusted free cash flow and a 0.4x reduction in net leverage to 3.6x.
Key Financial Metrics
Key Facts
- Q1 2026 net sales of $361.3M, up 2.6% YoY, in line with consensus of $361.9M
- Branded Salty Snacks organic net sales grew 5.2% YoY, led by Power Four Brands
- Adjusted EBITDA grew 6.2% to $47.9M; adjusted EBITDA margin expanded 50bps to 13.3%
- Adjusted EPS declined 6.3% to $0.15, vs consensus estimate of $0.14 (beat by 7.1%)
- GAAP net loss of $(2.4)M vs net income of $5.7M in prior year, impacted by absence of $11M warrant liability gain
- Reaffirmed all FY2026 guidance: organic net sales growth 2-3%, adjusted EBITDA growth 5-8%, adjusted EPS decline 3-6%
- Adjusted free cash flow improved by $32.3M YoY to $(25.9)M; net leverage improved to 3.6x from 4.0x a year ago
- No shares repurchased under $50M buyback program; $50M remaining
- Non-branded/non-salty snacks net sales declined 14.3% YoY due to accelerated elimination of low-margin items
Financial Impact
Q1 revenue $361.3M (in line), adjusted EPS $0.15 (slight beat vs $0.14 consensus). Guidance reaffirmed — no material change to FY2026 outlook.
Risk Factors
- Non-branded segment declining 14.3% as company prunes low-margin items
- GAAP net loss widening and adjusted EPS declining as guided due to higher D&A and interest
- Net leverage at 3.6x remains elevated; consumer spending slowdown could pressure snack category growth
- Competitive category dynamics and input cost inflation could pressure margins
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-030878 |
| Document: utz1q26earningspresentat.htm | 0001628280-26-030878 |
| Document: utz-20260506.htm | 0001628280-26-030878 |
| Document: 0001628280-26-030878-index-headers.html | 0001628280-26-030878 |
| Document: 0001628280-26-030878-index.html | 0001628280-26-030878 |
| Document: 0001628280-26-030878.txt | 0001628280-26-030878 |
| 8-K Data (Synthetic) | 0001628280-26-030878 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 9, 2026 17d ago | SC 13G | $14.30 | awaiting T+20 | — | $14.28 (−0.14%) |
Oct 2, 2026 24d ago | SC 13E-3/A | $14.27 | awaiting T+20 | — | $14.28 (+0.07%) |
Oct 2, 2026 25d ago | DEFM14A | $14.27 | awaiting T+20 | — | $14.28 (+0.07%) |
Sep 24, 2026 4w ago | SC 13E-3/A | $14.24 $14.29 | ▲ +0.35% | ▲ +0.77% | $14.28 (+0.28%) |
Aug 24, 2026 9w ago | PREM14A | $14.21 $14.23 | ▲ +0.14% | ▼ −1.17% | $14.28 (+0.49%) |
Aug 5, 2026 11w ago | 8-K | $14.12 $14.20 | ▲ +0.57% | ▲ +1.17% | $14.28 (+1.13%) |
Jul 22, 2026 13w ago | 8-K | $14.06 $14.15 | ▲ +0.64% | ▼ −2.26% | $14.28 (+1.56%) |
Jul 21, 2026 13w ago | DEFA14A / 8-K | $14.06 $14.16 | ▲ +0.71% | ▼ −1.85% | $14.28 (+1.56%) |
Jun 21, 2026 18w ago | Institutional Cluster | $6.85 $7.21 | ▼ −5.26% | ▼ −5.40% | $14.28 (−108.47%) |
May 28, 2026 21w ago | 8-K | $7.50 $7.71 | ▲ +2.80% | ▲ +5.95% | $14.28 (+90.40%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers