Sovos Brands Reports Third Quarter 2022 Financial Results
Sovos Brands, Inc. (SOVO)
Company Research
Source: GlobeNewswire
Organic Net Sales Growth of 16.9% and Adjusted EBITDA Growth of 14.5%Driven by Strong Dollar and Unit Consumption Growth Across the Rao’s FranchiseRaising Full Year Net Sales Range to $840-$850 million and Reiterating Adjusted EBITDA Guidance LOUISVILLE, Colo., Nov. 02, 2022 (GLOBE NEWSWIRE) -- Sovos Brands, Inc. (“Sovos Brands” or the “Company”) (Nasdaq: SOVO), one of the fastest-growing food companies of scale in the United States, today reported financial results for its third quarter ended September 24, 2022. Highlights: Net sales were $208.9 million, a 16.9% increase over the prior year period behind continued strength in our core categories and driven primarily by strong pricing growthTotal Rao’s franchise continued on its path to $1 billion dollars of annual net sales Sauce dollar and unit consumption increased 24.3% and 14.7%, respectively, driving dollar share up 100-basis points to 14.1%; growth was supported by year-over-year household penetration gains of 160-b
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SOVO
News
- Campbell Soup CEO on Rao's pasta sauce deal: We have now entered our next chapter [Yahoo! Finance]Yahoo! Finance
- Campbell Soup completes $2.33 billion Sovos deal after delays [Yahoo! Finance]Yahoo! Finance
- Campbell Completes Acquisition of Sovos Brands, Inc. [Yahoo! Finance]Yahoo! Finance
- Flagship Food Group Rebrands to Insignia International and Will Unveil New Logo Live at Natural Products Expo West [Yahoo! Finance]Yahoo! Finance
- Flagship Food Group Rebrands to Insignia International and Will Unveil New Logo Live at Natural Products Expo WestBusiness Wire
SOVO
Earnings
- 2/28/24 - Beat
SOVO
Sec Filings
- 3/12/24 - Form 25-NSE
- 3/12/24 - Form S-8
- 3/12/24 - Form POS
- SOVO's page on the SEC website