Sovos Brands

Sovos Brands, Inc. engages in the sale of Italian sauces and dry pasta, soups, yogurts, frozen ready-to-eat meals, pancake and waffle mixes, baking mixes, and frozen waffles. Its brands include Rao's Homemade, noosa yoghurt, Birch Benders, and Michael Angelo’s. It operates through the Dinner and Sauces, and Breakfast and Snacks segments. The company was founded by Todd R. Lachman on January 17, 2017 and is headquartered in Louisville, CO.

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

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Earnings data Q3 2022

Earnings data Q4 2022

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Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Sovos Brands excels in Q4 2022, eyes sustained growth through innovation

Sovos Brands showcased robust performance in Q4 2022, driven by strong sales growth and strategic investments. Despite challenges like inflation and supply chain disruptions, the company remains focused on expanding its market presence and driving sustainable growth through product innovation and brand building.

Sovos Brands excels in Q1 with Rao's brand leading growth

Sovos Brands' Q1 2023 showcased strong financial performance, particularly driven by the success of the Rao's mega brand. While challenges exist with certain brand performances, opportunities for growth through capital allocation and brand expansion are evident. Pricing strategies have been effective, contributing to the overall positive outlook for the company.

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First Quarter Net Sales Increase 10.9% on Continued, Volume-Led Consumption in Core Categories Net Income of $4.1 million; Adjusted Net Income of $13.8 million Adjusted EBITDA of $27.6 million

Sovos Brands Reports First Quarter 2022 Financial Results

Sovos Brands, Inc. (SOVO) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

Why the Earnings Surprise Streak Could Continue for Sovos Brands, Inc. (SOVO)

Sovos Brands sells four delicious brands: Rao's, noosa, Michael Angelo's, and Birch Benders.

Sovos Brands Will Continue To Execute For Shareholders

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Sovos Brands, Inc. (SOVO) CEO Todd Lachman on Q4 2021 Results - Earnings Call Transcript

Sovos Brands Inc. SOVO, -2.26% shares rose 1.6% in Tuesday premarket trading after the food company reported fourth-quarter profit and sales that beat expectations. Net loss totaled $3.8 million, or 4 cents per share, after a loss of $479,000 or a penny per share, last year.

Rao's parent Sovos Brands reports better-than-expected earnings, gives upbeat guidance

Fiscal Year 2021 Net Sales and Adjusted EBITDA Exceeds Full-Year Guidance Fourth Quarter Net Sales +17% on Continued Strong Consumption and Accelerating Share Gains Provides Fiscal Year 2022 Guidance

Sovos Brands Reports Fourth Quarter and Fiscal Year 2021 Financial Results

Sovos Brands has done well to expand at a rapid pace in recent years.

Sovos Brands Stock: An Attractive Prospect For Growth Investors

Sovos Brands, Inc. (SOVO) CEO Todd Lachman on Q3 2021 Results - Earnings Call Transcript

Sovos Brands Inc. SOVO, +1.08% reported a third-quarter net loss of $4.6 million, or 6 cents per share, after net income of $2.2 million, or 3 cents per share, last year. Adjusted EPS of 10 cents beat the FactSet consensus for 7 cents per share.

Rao's parent Sovos Brands beats expectations in first earnings announcement

Third Quarter Net Sales Increase 31% Due to Strong Consumption and the Addition of Birch Benders Brand Net Sales Increase 17% Provides Fiscal Year 2021 Net Sales and Adjusted EBITDA Guidance

Sovos Brands Reports Third Quarter 2021 Financial Results

Sovos Brands Inc. stock was trading Monday at about $14.77, above its recent IPO issue price of $12, but Stifel analysts say the company's valuation doesn't take its growth potential into account.

The Ratings Game: Rao's parent Sovos Brands' valuation doesn't take its growth potential into account, analysts say

Goldman Sachs analyst Jason English initiated coverage of Sovos Brands Inc (NASDAQ:SOVO) with a Buy rating and $19 price target, suggesting a 34% upside. The analyst sees a "compelling distribution and product-cycle fueled growth story" from the company over the next three years.

Analysts See Upto 34% Upside In Sovos Brands

LOUISVILLE, Colo., Oct. 05, 2021 (GLOBE NEWSWIRE) -- Sovos Brands, Inc. (“Sovos Brands”) (Nasdaq: SOVO) announced today that the underwriters of its previously announced initial public offering have exercised their option in full to purchase an additional 3,500,100 shares of its common stock at the public offering price of $12.00 per share, resulting in additional gross proceeds of approximately $42.0 million before underwriting discounts and commissions and estimated offering expenses, bringing the total gross proceeds of the initial public offering to approximately $322.0 million. The exercise of the over-allotment option closed on October 5, 2021.

Sovos Brands, Inc. Announces Closing of Over-Allotment Option in Connection with its Initial Public Offering

Sovos Brands is acquiring emerging brands to combat consumer packaged businesses.

Sovos Brands: Interesting Consumer Foods Play

LOUISVILLE, Colo., Oct. 01, 2021 (GLOBE NEWSWIRE) -- Sovos Brands, Inc. (Nasdaq: SOVO), the fastest-growing food company of scale in the United States, will announce the results of its third quarter 2021 on Tuesday, November 9, 2021. The Company will host its earnings conference via live webcast at 8:30 AM Eastern Time on the same day. The link to the webcast and presentation slides will be available on the Investor Relations section of the Company's website at ir.sovosbrands.com, under the Events and Presentations tab. A replay of the webcast will be archived for 30 days after the call.

Sovos Brands Announces Third Quarter 2021 Earnings Date

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Can Food Stock Newbie Sovos Brands Live Up to Its Energetic IPO?

LOUISVILLE, Colo., Sept. 27, 2021 (GLOBE NEWSWIRE) --  Sovos Brands, Inc. (“Sovos Brands”) (Nasdaq: SOVO) announced today the closing of its initial public offering of 23,334,000 shares of its common stock at a price to the public of $12.00 per share. Gross proceeds to Sovos Brands were approximately $280.0 million, before underwriting discounts and commissions and estimated offering expenses. The common stock began trading on the Nasdaq Global Select Market on September 23, 2021. Sovos Brands has granted the underwriters a 30-day option to purchase up to an additional 3,500,100 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.

Sovos Brands, Inc. Announces Closing of Public Offering

Sovos Brands Inc. SOVO, +16.92% , parent company to pasta sauce brand Rao's and yogurt brand Noosa, soared 20.8% as trading began on Thursday. Shares priced at $12 per share, below the expected range of $14 to $16.

Rao's, Noosa parent Sovos Brands soars 21% as trading begins

LOUISVILLE, Colo., Sept. 22, 2021 (GLOBE NEWSWIRE) -- Sovos Brands, Inc. (“Sovos”) announced today the pricing of its initial public offering of 23,334,000 shares of its common stock at a price to the public of $12.00 per share. The shares are expected to begin trading on the Nasdaq Global Select Market on September 23, 2021, under the ticker symbol “SOVO.” The initial public offering is expected to close on September 27, 2021, subject to the satisfaction of customary closing conditions.

News for Sovos Brands Stock (SOVO)