Yahoo Finance Utz (UTZ) Q2 Earnings Report Preview: What To Look For
Snack food company Utz Brands (NYSE:UTZ) will be reporting earnings tomorrow before the bell. Here's what to look for.
Utz met analysts' revenue expectations last quarter, reporting revenues of $346.5 million, down 1.4% year on year. It was a solid quarter for the company, with an impressive beat of analysts' organic revenue growth estimates and a decent beat of analysts' earnings estimates.
Is Utz a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Utz's revenue to decline 1.8% year on year to $356.2 million, a reversal from the 3.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.16 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Utz has missed Wall Street's revenue estimates three times over the last two years.
Looking at Utz's peers in the shelf-stable food segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Mondelez posted flat year-on-year revenue, missing analysts' expectations by 1.3%, and McCormick reported flat revenue, in line with consensus estimates. McCormick traded up 4.8% following the results.
Read our full analysis of Mondelez's results here and McCormick's results here.
There has been positive sentiment among investors in the shelf-stable food segment, with share prices up 3.4% on average over the last month. Utz is down 9.1% during the same time and is heading into earnings with an average analyst price target of $20.7 (compared to the current share price of $14.88).
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