Snack food company Utz Brands (NYSE:UTZ) will be announcing earnings results tomorrow morning. Here's what to expect.
Last quarter Utz reported revenues of $371.9 million, up 2.5% year on year, in line with analyst expectations. It was a decent quarter for the company, with revenue and EPS exceeding Wall Street's expectations.
Is Utz buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Utz's revenue to decline 0.1% year on year to $354.2 million, a deceleration on the 17.9% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.16 per share.
The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing seven downward revisions over the last thirty days. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 3.4%.
Looking at Utz's peers in the packaged food segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. J. M. Smucker delivered top-line growth of 0.6% year on year, beating analyst estimates by 0.4% and Pilgrim's Pride reported revenues up 9.7% year on year, exceeding estimates by 1.2%. J. M. Smucker's traded flat on the results, and Pilgrim's Pride was down 4.5%.
Read our full analysis of J. M. Smucker's results here and Pilgrim's Pride's results here.
Investors in the packaged food segment have had steady hands going into the earnings, with the stocks up on average 1.9% over the last month. Utz is up 4.8% during the same time, and is heading into the earnings with analyst price target of $18.6, compared to share price of $18.5.
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