Revenue growth remains subdued at 2.6% in 2026Q1, while structural margin volatility is evidenced by the sharp swing from a -6.6% gross margin in 2025Q4 to 25.4% in 2026Q1.
| Sales/Revenue | 1.45B | 1.44B | 1.41B | 1.44B | 1.41B | 1.18B | 964.31M | 768.23M | 772.03M |
| Revenue Growth % | 2.34% | 2.09% | -2.01% | 2.12% | 19.28% | 22.44% | 25.52% | -0.49% | - |
| Cost of Goods Sold | 1.13B | 1.12B | 914.5M | 981.75M | 959.34M | 796.8M | 625.78M | 514.43M | 505.33M |
| COGS % of Revenue | - | 77.61% | 64.89% | 68.26% | 68.12% | 67.48% | 64.89% | 66.96% | 65.45% |
| Gross Profit | 323M | 322.2M | 494.78M | 456.49M | 449.06M | 383.91M | 338.53M | 253.8M | 266.7M |
| Gross Margin % | 22.31% | 22.39% | 35.11% | 31.74% | 31.88% | 32.52% | 35.11% | 33.04% | 34.55% |
| Gross Profit Growth % | - | -34.88% | 8.39% | 1.65% | 16.97% | 13.4% | 33.39% | -4.84% | - |
| Operating Expenses | 386.8M | 223.7M | 435.87M | 440.47M | 443.71M | 373.34M | 306.71M | 215.05M | 247.32M |
| OpEx % of Revenue | - | 15.55% | 30.93% | 30.63% | 31.5% | 31.62% | 31.81% | 27.99% | 32.04% |
| Selling, General & Admin | 328M | 348M | 435.79M | 433.12M | 444.4M | 375.21M | 297.52M | 228.31M | 251.39M |
| SG&A % of Revenue | - | 24.19% | 30.92% | 30.11% | 31.55% | 31.78% | 30.85% | 29.72% | 32.56% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1.4M | -124.3M | 78K | 7.35M | -691K | -1.86M | 9.19M | -13.26M | -4.07M |
| Operating Income | -63.8M | 98.5M | 58.91M | 16.02M | 5.34M | 10.57M | 31.82M | 38.75M | 19.38M |
| Operating Margin % | -4.41% | 6.85% | 4.18% | 1.11% | 0.38% | 0.89% | 3.3% | 5.04% | 2.51% |
| Operating Income Growth % | - | 67.22% | 267.77% | 199.72% | -49.42% | -66.8% | -17.87% | 99.9% | - |
| EBITDA | 22.36M | 180.9M | 129.85M | 95.5M | 92.14M | 91.29M | 76.57M | 68.04M | 49.74M |
| EBITDA Margin % | 1.54% | 12.57% | 9.21% | 6.64% | 6.54% | 7.73% | 7.94% | 8.86% | 6.44% |
| EBITDA Growth % | -82.3% | 39.32% | 35.96% | 3.65% | 0.94% | 19.23% | 12.54% | 36.78% | - |
| D&A (Non-Cash Add-back) | 86.16M | 82.4M | 70.94M | 79.49M | 86.8M | 80.72M | 44.74M | 29.29M | 30.36M |
| EBIT | -52M | 98.5M | 111.17M | 19.76M | 4.53M | 46.95M | 41.02M | 25.49M | 15.31M |
| Net Interest Income | -76.3M | -43.1M | -44.86M | -60.59M | -44.42M | -34.71M | -39.96M | 8.97M | 2.05M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8.97M | 2.05M |
| Interest Expense | 76.3M | 43.1M | 44.86M | 60.59M | 44.42M | 34.71M | 39.96M | 0 | 0 |
| Other Income/Expense | 56.3M | -99.1M | 10.56M | -55.29M | -43.3M | 5.52M | -132.6M | -48.96M | -45.11M |
| Pretax Income | -7.5M | -600K | 69.47M | -39.27M | -37.96M | 16.08M | -100.78M | -10.22M | -25.73M |
| Pretax Margin % | -0.52% | -0.04% | 4.93% | -2.73% | -2.7% | 1.36% | -10.45% | -1.33% | -3.33% |
| Income Tax | 8.3M | 7.1M | 38.73M | 757K | -23.92M | 8.09M | 3.71M | 3.15M | 1.92M |
| Effective Tax Rate % | -110.67% | -1183.33% | 55.75% | -1.93% | 63.01% | 50.27% | -3.68% | -30.79% | -7.46% |
| Net Income | -8.4M | 800K | 15.97M | -24.94M | -392K | 20.55M | -96.51M | -16.17M | -30.5M |
| Net Margin % | -0.58% | 0.06% | 1.13% | -1.73% | -0.03% | 1.74% | -10.01% | -2.11% | -3.95% |
| Net Income Growth % | -130.58% | -94.99% | 164.06% | -6261.48% | -101.91% | 121.3% | -496.77% | 46.98% | - |
| Net Income (Continuing) | -15.8M | -7.7M | 30.74M | -40.03M | -14.04M | 8M | -104.48M | -13.36M | -27.64M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 627.9M | 631.2M | 685.29M | 714.19M | 748.54M | 754.97M | 831.99M | -7.31M | 0 |
| EPS (Diluted) | -0.10 | 0.01 | 0.19 | -0.31 | -0.00 | 0.25 | -1.64 | -0.29 | -0.55 |
| EPS Growth % | -130.98% | -95.21% | 161.29% | - | -101.96% | 115.24% | -465.52% | 47.27% | - |
| EPS (Basic) | - | 0.01 | 0.19 | -0.31 | -0.00 | 0.27 | -1.64 | -0.29 | -0.55 |
| Diluted Shares Outstanding | 88.35M | 87.77M | 85.43M | 81.08M | 80.09M | 81.09M | 71.09M | 55.88M | 55.88M |
| Basic Shares Outstanding | 88.35M | 86.58M | 82.1M | 81.08M | 80.09M | 76.68M | 71.09M | 55.88M | 55.88M |
| Dividend Payout Ratio | - | 2787.5% | 136% | - | - | 57.93% | - | - | - |
Margin compression and volatility
According to the latest quarterly filings, UTZ reported a 2.6% year-over-year revenue increase in 2026Q1, reflecting a persistent struggle to achieve meaningful top-line expansion as the company navigates the transition from regional legacy dominance to a broader, national footprint within the competitive salty snack industry.
The modest growth figures suggest that the company's expansion efforts are currently being offset by competitive pressures in non-core markets. Investors should monitor whether the recent revenue uptick represents a sustainable shift or merely a temporary fluctuation in consumer demand for core snack categories.
As reported in recent financial statements, UTZ experienced a significant gross margin contraction to -6.6% in 2025Q4, followed by a partial recovery to 25.4% in 2026Q1, highlighting the extreme sensitivity of the company's cost structure to commodity price fluctuations and operational integration challenges.
The wide variance in gross margins indicates that the company lacks the pricing power necessary to fully pass through input cost spikes to consumers. This instability suggests that the current operating model remains vulnerable to external supply chain shocks, necessitating a more robust hedging strategy or improved manufacturing efficiency.
Based on the provided income statement data, UTZ's operating margin has struggled to maintain positive territory, falling to 1.8% in 2026Q1, which suggests that the company is failing to achieve the necessary economies of scale to offset its high fixed-cost distribution and administrative overhead.
The inability to scale operating income alongside revenue growth implies that the current DSD infrastructure may be too costly for the company's current volume levels. Further investigation into the efficiency of the Independent Operator conversion program is warranted to determine if this will eventually provide the expected margin relief.
Data from the most recent income statements indicates that UTZ's net income has frequently dipped into negative territory, with a net margin of -0.5% in 2026Q1, raising concerns about the long-term viability of the current acquisition-heavy growth strategy and its impact on shareholder value.
Short-term volatility in net income, exacerbated by periodic losses, suggests that the company's core business may be less profitable than the growth narrative implies. Investors should remain cautious regarding the potential for continued earnings dilution if the company cannot stabilize its bottom line through more disciplined cost management.
Quick answers to the most common questions about buying UTZ stock.
For fiscal year 2025, Utz Brands, Inc. (UTZ) reported total revenue of $1.44B. This represents a 86.4% increase compared to $772.0M in 2018.
Utz Brands, Inc. (UTZ) is profitable, generating $0.8M in net income for the fiscal year ending 2025 with a net profit margin of 0.1%.
Utz Brands, Inc. (UTZ) reported an operating income of $98.5M, resulting in an operating profit margin of 6.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Utz Brands, Inc. (UTZ) generated $322.2M in gross profit for the year, representing a gross profit margin of 22.4%. This demonstrates the company's core pricing power and production efficiency.