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The Chef's Warehouse Inc. (NASDAQ: CHEF) is a premier specialty food distributor catering to high-end chefs and culinary professionals for over 30 years. With a robust presence in major metropolitan areas across the United States, Canada, and the Middle East, the company sources and supplies fine food products to top-tier restaurants, hotels, caterers, gourmet stores, culinary schools, and casinos.
The company's extensive product portfolio includes a variety of imported and locally sourced specialty foods such as artisan charcuterie, specialty cheeses, oils, vinegars, hormone-free protein, truffles, caviar, and chocolate, meeting the stringent standards of elite chefs. The Chef's Warehouse operates through a single reporting segment called Food Product Distribution, primarily serving the East, Midwest, and West coasts of the U.S.
In recent financial updates, the company reported strong year-over-year organic revenue growth and adjusted EBITDA in the second quarter of 2023, despite challenges like volatile weather conditions and protein category fluctuations. The third quarter of 2023 saw sequential improvements in business activity, driven by strong growth in customer acquisition and volume growth. The fourth quarter of 2023 showcased increased operating income and higher gross profit margins.
Moreover, the company has entered into a Cooperation Agreement with Legion Partners Asset Management, LLC, signaling a strategic move towards enhancing its operational and financial performance. As part of this agreement, three new independent directors have been appointed to the Board, bringing valuable expertise from various industries.
As of early 2024, The Chef’s Warehouse continued its strong performance with first-quarter results indicating steady revenue growth and sustained customer demand. The company remains focused on delivering high-quality products and exceptional service to its diverse clientele, leveraging its flexible distribution platform for continued growth and success.
Contact: Investor Relations, Jim Leddy, CFO, (718) 684-8415
The Chefs' Warehouse (NASDAQ: CHEF) reported strong Q3 2024 financial results with net sales increasing 5.6% to $931.5 million from $881.8 million in Q3 2023. The company's GAAP net income doubled to $14.1 million, or $0.34 per diluted share, compared to $7.3 million in Q3 2023. Gross profit grew 8.2% to $224.7 million, with margins expanding by 58 basis points to 24.1%. The company provided 2024 guidance projecting net sales between $3.710-3.775 billion and Adjusted EBITDA between $210-219 million.
The Chefs' Warehouse (NASDAQ: CHEF) has announced its plans to release financial results for the third quarter ended September 27, 2024. The company will unveil these results before the stock market opens on Wednesday, October 30, 2024. Following the release, The Chefs' Warehouse will host a conference call at 8:30 a.m. ET on the same day to discuss and review the quarterly results.
Interested parties can access the conference call via a live webcast from the company's investor relations website at http://investors.chefswarehouse.com/. For those unable to attend the live event, an online archive of the webcast will be available for 30 days on the same investor relations website.
The Chefs' Warehouse (Nasdaq: CHEF), a leading distributor of specialty food products in the United States, Middle East, and Canada, has announced its participation in CL King's 22nd Best Ideas Conference. The company will engage in a virtual fireside chat on Monday, September 16, 2024, at 8:45 a.m. ET.
Investors and interested parties can access a webcast of the fireside chat through the company's investor relations website at http://investors.chefswarehouse.com/. This event provides an opportunity for stakeholders to gain insights into The Chefs' Warehouse's business strategies and market position in the specialty food distribution sector.
The Chefs' Warehouse (NASDAQ: CHEF) reported strong financial results for Q2 2024. Net sales increased 8.3% to $954.7 million, driven by 7.2% organic growth and 1.1% from acquisitions. GAAP net income rose to $15.5 million ($0.37 per diluted share), up from $9.9 million ($0.25 per share) in Q2 2023. Adjusted EBITDA grew to $56.2 million, compared to $51.1 million last year.
The company saw solid growth in its specialty category, with organic case count up 4.7% and unique customer and placement increases of 8.2% and 11.3% respectively. Gross profit increased 9.9% to $229.0 million, with margins expanding 35 basis points to 24.0%. For fiscal 2024, Chefs' Warehouse projects net sales between $3.665 billion and $3.785 billion, and adjusted EBITDA between $208.0 million and $219.0 million.
The Chefs' Warehouse (NASDAQ: CHEF) has announced its plan to release financial results for the second quarter ended June 28, 2024. The company will unveil these results before the stock market opens on Wednesday, July 31, 2024. Following the release, The Chefs' Warehouse will host a conference call at 8:30 a.m. ET on the same day to discuss the quarterly performance.
Investors and interested parties can access the live webcast of the conference call through the company's investor relations website at http://investors.chefswarehouse.com/. For those unable to attend the live call, an online archive of the webcast will be available for 30 days on the same website.
The Chefs’ Warehouse, Inc. reported strong financial results for the first quarter of 2024, with net sales increasing by 21.5% to $874.5 million. The company's GAAP net income was $1.9 million, adjusted net income per share was $0.15, and adjusted EBITDA was $40.2 million. Organic sales growth, acquisitions, and increased gross profit margins were key drivers of the positive performance. The company provided full-year guidance for 2024, projecting net sales between $3.640 billion to $3.785 billion, gross profit between $867.0 million to $902.0 million, and adjusted EBITDA between $207.0 million and $219.0 million.
The Chefs’ Warehouse, Inc. will participate in the BMO Global Farm to Market Conference on May 15, 2024, presenting at 2:45 p.m. ET. The Company, listed as CHEF on Nasdaq, is a leading distributor of specialty food products in the US, Middle East, and Canada.
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