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

Sovos Brands

29/02/2024 24:29

* Sovos Brands Inc  SOVO.OQ  reported quarterly adjusted
earnings
of 26 cents​​ per share for the quarter ended in December,
higher than the same quarter last year, when the company
reported EPS of 19 cents.  The mean expectation of ten analysts
for the quarter was for earnings of 19 cents per share. Wall
Street expected results to range from 17 cents to 22 cents per
share.
    * Revenue rose 11.4% to $292.05 million from a year ago;
analysts
expected $262.69 million. 
    * Sovos Brands Inc's reported EPS for the quarter was 15
cents​.
    * The company reported quarterly net income of $15.51
million.
    * Sovos Brands Inc shares had risen by 2.2% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.9%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 7
"hold" and no "sell" or "strong sell." 
    * Wall Street's median 12-month price target for Sovos
Brands Inc
is $23.00 

This summary was machine generated from LSEG data February 29 at
12:29 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.19           0.26           Beat
 Sep. 30 2023      0.15           0.20           Beat
 Jun. 30 2023      0.13           0.17           Beat
 Mar. 31 2023      0.15           0.18           Beat