Stock Up 6.7% in Premarket Trading

  • Utz Brands shares rise after Q2 profit and raised earnings outlook
  • Net income of $19.8 million in Q2, compared to a loss last year
  • Adjusted EPS growth forecast increased to 28-32% from 23-28%
  • Organic net sales growth guidance lowered to 3% from ‘at least 3%’
  • Lower expenses and favorable tax rate contribute to the upgrade

Utz Brands reported a net income of $19.8 million for Q2, compared to a loss last year, leading to an increase in its earnings outlook and causing shares to rise by 6.7% in premarket trading. The company now expects adjusted EPS growth between 28-32%, up from the previous guidance of 23-28%. However, organic net sales growth guidance was lowered to 3% due to a moderate growth outlook for salty snacks.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about Utz Brands’ financial performance, including net profit, earnings growth outlook, and sales figures. It also includes relevant details such as stock price changes and the reasons behind the updates to their guidance. The information is based on analysts’ expectations and the company’s own statements, making it a reliable source of news.
Noise Level: 4
Noise Justification: The article provides relevant financial information about a company’s performance and updates on its earnings, but it lacks in-depth analysis and exploration of long-term trends or consequences of decisions. It also does not offer actionable insights for readers.
Public Companies: Utz Brands (UTZ)
Key People:

Track all markets on TradingView

Financial Relevance: Yes
Financial Markets Impacted: Stock market
Financial Rating Justification: The article discusses Utz Brands’ financial performance and its impact on the company’s stock price, as well as its guidance for future earnings growth. This information is relevant to investors and can influence their decisions in the stock market.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in this article.

Reported publicly: www.marketwatch.com