Sovos Brands, Inc. reported earnings results for the fourth quarter and full year ended December 30, 2023. For the fourth quarter, the company reported sales was USD 292.05 million compared to USD 262.1 million a year ago. Net income was USD 15.51 million compared to net loss of USD 28.69 million a year ago. Basic earnings per share from continuing operations was USD 0.15 compared to basic loss per share from continuing operations of USD 0.28 a year ago. Diluted earnings per share from continuing operations was USD 0.15 compared to diluted loss per share from continuing operations of USD 0.28 a year ago.
For the full year, sales was USD 1,020.42 million compared to USD 878.37 million a year ago. Net income was USD 30.17 million compared to net loss of USD 53.45 million a year ago. Basic earnings per share from continuing operations was USD 0.3 compared to basic loss per share from continuing operations of USD 0.53 a year ago. Diluted earnings per share from continuing operations was USD 0.29 compared to diluted loss per share from continuing operations of USD 0.53 a year ago.