Sovos Brands Inc (OQ:SOVO)

Sector:  Consumer Non-Cyclicals Industry:  Food Processing
See Regulatory Filings on SEC
Company Contact
Address: 168 Centennial Parkway, Suite 200
Tel: N/A
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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