Sovos Brands Inc reports results for the quarter ended in December - Earnings Summary

Sovos Brands

08/03/2023 22:37

* Sovos Brands Inc  SOVO.OQ  reported quarterly adjusted
earnings
of 19 cents​​ per share for the quarter ended in December. The
mean expectation of twelve analysts for the quarter was
for earnings of 16 cents per share.
    * Revenue rose 38.5% to $262.10 million from a year ago;
analysts
expected $231.50 million. 
    * Sovos Brands Inc's reported EPS for the quarter was a loss
of 28
cents​.
    * The mean earnings estimate of analysts had fallen by
about 5.8%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates 
    * Sovos Brands Inc shares had fallen by 8.7% this quarter.
    * The company reported a quarterly loss of $28.69 million.
    * Wall Street's median 12-month price target for Sovos
Brands Inc
is $17.00 
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 10 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 

This summary was machine generated from LSEG Refinitiv data
March 8 at 10:37 p.m. UTC. ​All figures in US dollars unless
otherwise stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2022      0.16           0.19           Beat
 Sep. 30 2022      0.13           0.14           Beat
 Jun. 30 2022      0.08           0.13           Beat
 Mar. 31 2022      0.12           0.14           Beat