Sovos Brands Q3 2022 Results: Revenue Beats Expectations, EPS Lags

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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).
NasdaqGS: SOVO Earnings and Revenue Growth November 5, 2022

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.

Performance of the American food industry.

The company’s stock price is broadly unchanged from a week ago.

Risk analysis

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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This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

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