Sovos brands (NASDAQ: SOVO) Third quarter 2022 results
Main financial results
- Revenue: $208.9 million (up 17% compared to Q3 2021).
- Net profit: 1.46m USD (compared to a loss of 4.61m USD in the 3rd quarter of 2021).
- Profit margin: 0.7% (up from net loss in Q3 2021).
- EPS: $0.015 (compared to a loss of $0.062 in Q3 2021).
All figures shown in the table above are for the 12 month period (TTM)
Sovos Brands revenue beats expectations, EPS falls short
Revenue beat analysts’ estimates by 4.4%. Earnings per share (EPS) missed analysts’ estimates by 75%.
Looking ahead, revenues are expected to grow by an average of 7.9% per year over the next 3 years, while US food industry revenues are expected to remain flat.
The company’s stock price is broadly unchanged from a week ago.
We don’t want to rain too much on the parade, but we also found 1 warning sign for Sovos brands which you must take into account.
Valuation is complex, but we help make it simple.
Find out if Sovos Brands is potentially overvalued or undervalued by viewing our full analysis, which includes fair value estimates, risks and warnings, dividends, insider trading and financial health.
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