Utz Brands, Inc. (UTZ) Q4 2024 Pre-Recorded Call (Transcript)


Utz Brands, Inc. (UTZ) Q4 2024 Pre-Recorded Call (Transcript)

Good morning, and thank you for joining us today for our pre-recorded discussion of Fourth Quarter and Full Year 2024 Earnings Results. Joining me on the call today are Howard Friedman, CEO; and Ajay Kataria, CFO. In addition, this morning at 7:15 a.m. Eastern Time, we will host a live question and answer session, which you can access via webcast on our Investor Relations website.

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 the forward-looking statement disclaimer in the earnings materials and our recent SEC filings, which identify the principal risks and uncertainties that could affect future performance.

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 Investor Relations website.

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

Thank you, Kevin, and good morning, everyone. 2024 was a year of growth and strong performance. For the full year, we drove share gains in the salty snack category, led by our Power 4 brands, significantly enhanced our distribution efficiencies, gained value and volume share in our expansion geographies and volume share in our core geographies, delivered accelerated productivity cost savings, and were able to improve our balance sheet flexibility.

I'd like to take a moment to discuss changes we are making

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