Utz Brands, Inc. (UTZ), a snack food company, Thursday announced a turn-around to profit in fourth quarter, compared to loss last year.
For the fourth quarter, net income was $2.12 million, compared to loss of $33.21 million last year.
Earings per share were $0.03 versus loss of $0.34 the previous year.
On the adjusted basis, net income increased 41 percent to $32.4 million from $22.9 million the previous year.
Adjusted earnings per share were $0.22 versus $0.16 in the previous year.
Analysts, on average, had expected the company to earn $0.19 per share. Analysts' estimates typically exclude special items.
For fiscal year 2025, the company expects low single-digit growth in organic net sales.
Adjusted EBITDA is projected to increase by 6% to 10%, while adjusted earnings per share are expected to grow by 10% to 15%.
In the pre-market trading, Utz Brands is 2.08% higher at $13.75 on the New York Stock Exchange.
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