Utz Brands reported a third-quarter net loss of $32.1 million, or $(0.27) per diluted share, compared to a net loss of $20.2 million in the prior year period. Net sales decreased 2.3% to $369.2 million, driven by a 5.2% volume decline that was partially offset by 2.9% higher pricing. Adjusted EBITDA fell 30.3% to $42.0 million, and adjusted free cash flow turned negative at $(15.5) million due to supply chain cost inflation and transaction-related expenses. The company will not provide full-year guidance or host a conference call as it awaits the closing of its pending take-private acquisition by Intersnack Group for $14.25 per share, expected in the fourth quarter. Utz Brands is a leading U.S. manufacturer of branded salty snacks.
