Sovos Brands Inc (OQ:SOVO)
Business Focus: Food Ingredients
| Sector: Consumer Non-Cyclicals | Industry: Food Processing |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 168 Centennial Parkway, Suite 200 LOUISVILLE CO 80027 |
| Tel: | N/A |
| Website: | https://www.sovosbrands.com |
| IR: | See website |
| Key People | ||
| William R. Johnson Independent Chairman of the Board | E. Yuri Hermida Chief Growth Officer | Todd R. Lachman President, Chief Executive Officer, Founder, Director |
| Christopher W. Hall Chief Financial Officer | Kirk A. Jensen Chief Operating Officer | Katie J. Gvazdinskas Chief Human Resource Officer |
| Lisa Y. O'Driscoll Chief Administrative Officer | Isobel A. Jones General Counsel, Chief Legal Officer | Wendy K. Behr Chief Research and Development Officer | Risa Cretella Chief Sales Officer |
| Business Overview |
| Sovos Brands, Inc. is a consumer-packaged food company. The Company is focused on acquiring and building brands. Its product offerings include a variety of pasta sauces, dry pasta, soups, frozen entrees, frozen pizza, and yogurts, all of which are sold in North America under the brand names Rao's, Michael Angelo's and noosa. Rao's brand offers a selection of Rao's Homemade pasta sauces, including tomato-based sauces, Alfredo sauces and Pesto sauces, pizza sauces and dry pastas; Rao's Homestyle meat-based pasta sauces; and Rao's Made for Home frozen entrees, frozen pizza and soups. Michael Angelo's frozen products include a variety of dishes, such as eggplant parmesan, lasagna made with fresh Ricotta cheese, shrimp scampi and other pastas, for a homemade taste. noosa brand offers a suite of delicious yogurt products, including spoonable yogurts and drinkable smoothies. It sells its products to customers in the United States and principally to retail outlets and wholesale distributors. |
| Financial Overview |
| For the 13 weeks ended 01 April 2023, Sovos Brands Inc revenues increased 20% to $252.8M. Net income increased 93% to $7.8M. Revenues reflect Rao'��s segment increase of 38% to $189.2M, Noosa segment increase of 8% to $45.3M. Net income benefited from Depreciation and amortization decrease of 17% to $6M (expense), Initial public offering readiness decrease from $220K (expense) to $0K. |
| Employees: | 690 as of Dec 31, 2022 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $2,263M as of Apr 1, 2023 |
| Annual revenue (TTM): | $921.23M as of Apr 1, 2023 |
| EBITDA (TTM): | $158.25M as of Apr 1, 2023 |
| Net annual income (TTM): | -$49.66M as of Apr 1, 2023 |
| Free cash flow (TTM): | $43.56M as of Apr 1, 2023 |
| Net Debt Last Fiscal Year: | $329.04M as of Apr 1, 2023 |
| Shares outstanding: | 101,226,478 as of May 5, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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