Utz Brands, Inc. (NYSE:UTZ) Q2 2024 Earnings Conference Call August 1, 2024 8:00 AM ET

Company Participants

Kevin Powers - SVP of IR
Howard Friedman - CEO
Ajay Kataria - CFO

Conference Call Participants

Andrew Lazar - Barclays
Peter Galbo - Bank of America
Michael Lavery - Piper Sandler
Rob Dickerson - Jefferies
Robert Moskow - TD Cowen
Matt McGinley - Needham
Rupesh Parikh - Oppenheimer
Mitchell Pinheiro - Sturdivant
Jim Salera - Stephens
John Baumgartner - Mizuho

Operator

Hello, and welcome to the Utz Second Quarter 2024 Earnings Call. This call is being recorded and all participants are currently in a listen-only mode. Shortly, we will move into a question-and-answer session. [Operator Instructions]

I will now turn the call over to Kevin Powers, Senior Vice President of Investor Relations.

Kevin Powers

Thank you, Jeremy. Good morning, everyone. Thank you for joining us today for our live Q&A session for our second quarter results. With me today are Howard Friedman, CEO; Ajay Kataria, CFO; and Cary Devore, COO and Chief Transformation Officer. I hope everybody had a chance to listen or read our prepared remarks that we posted this morning, and also a presentation that is available on our Investor Relations website.

Before we begin today's Q&A session, just a few housekeeping items. 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.

On today's call, we will discuss certain adjusted non-GAAP financial measures, which are described in more detail in this morning's earnings materials. Reconciliation of non-GAAP financial measures and other associated disclosures are contained in our earnings materials that are posted on our website.

And with that operator, we are ready to open up the line for questions.

Question-and-Answer Session

Operator

[Operator Instructions] Our first question comes from the line of Andrew Lazar from Barclays. Please go ahead.

Andrew Lazar

Great. Thanks so much. Good morning, everybody.

Howard Friedman

Morning, Andrew.

Andrew Lazar

Thanks again for shifting around your sort of reporting schedule. That's really helpful on a busy morning. Howard, I guess, 3% or about, call it 3% volume-driven organic sales growth for the full year certainly requires, as you know, a healthy step-up in growth in the second half, all in the context of a more competitive salty category. What drives the confidence in this outlook? And I guess how much of the step-up is coming from sort of the white space distribution actions that are maybe a bit more in your control, or sort of locked in, if you will, versus the underlying business? And what is enabling us to sort of raise the percent of sales on promo quite a bit less than the category average and why would that be sustainable? Thanks so much.