Utz Brands, Inc. (NYSE:UTZ) Q2 2022 Earnings Conference Call August 11, 2022 8:30 AM ET

Company Participants

Kevin Powers - Senior Vice President, Investor Relations

Dylan Lissette - Chief Executive Officer

Ajay Kataria - Executive Vice President and Chief Financial Officer

Cary Devore - Executive Vice President and Chief Operating Officer

Conference Call Participants

Jason English - Goldman Sachs

Bill Chappell - Truist Securities

Peter Galbo - Bank of America

Robert Moskow - Credit Suisse

Rupesh Parikh - Oppenheimer

Mitch Pinheiro - Sturdivant & Co.

James Salera - Stephens

Operator

Good morning and welcome to the Utz Brands Incorporated Second Quarter 2022 Earnings Conference Call. Please note, today's conference is being recorded. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

At this time, I will turn the conference over to Kevin Powers, Senior Vice President, Investor Relations. Mr. Powers, you may begin your conference.

Kevin Powers

Good morning and thank you for joining us today. On the call today are Dylan Lissette, Chief Executive Officer; Ajay Kataria, Chief Financial Officer; and Cary Devore, Chief Operating Officer.

Dylan and Ajay will make prepared comments this morning and all three will be available to answer questions during our live Q&A session. Please note that some of our comments today will contain forward-looking statements based on our current view of our business, and actual future results may differ materially. Please see our recent SEC filings, which identify the principal risks and uncertainties that could affect future performance.

Before I turn the call over to Dylan, I just have a few housekeeping items to review. Today, we will discuss certain adjusted or non-GAAP financial measures, which are described in more detail in this morning's earnings materials. Reconciliations of non-GAAP financial measures and other associated disclosures are contained in our earnings materials and posted on our website.

Finally, the company has also prepared presentation slides and additional supplemental financial information, which are posted on our Investor Relations website.

And now, I'd like to turn the call over to Dylan.

Dylan Lissette

Thank you, Kevin and good morning, everyone. I am pleased to report that our very strong start to the year continued in the second quarter, with record net sales of over $350 million and our organic net sales increased 13.6% as demand from a combination of both our loyal and new consumers remains robust. While we continue to closely monitor consumer behavior and the impact high inflation is having on shopping and purchasing patterns, both continues to execute against our core strategy of reinvesting to accelerate revenue growth, including accelerating our Power Brand sales, expanding distribution, and under penetrated channels and customers continuing our national expansion and increasing our presence in key salty snack subcategories and adjacencies.