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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 reported a robust 53.2% increase in net sales, reaching $648.1 million in Q2 2022, up from $423.0 million the previous year. GAAP net income soared to $16.9 million, or $0.42 per diluted share, compared to $1.1 million, or $0.03 per share in Q2 2021. Adjusted net income per share significantly rose to $0.51. Full-year guidance was raised, projecting net sales between $2.375 billion and $2.475 billion, with adjusted EBITDA expected between $135.0 million and $145.0 million.
The Chefs' Warehouse, Inc. (NASDAQ: CHEF) announced its plan to release financial results for the second quarter ending June 24, 2022, before market open on July 27, 2022. A conference call will follow at 8:30 a.m. ET on the same day, where the results will be reviewed. The call will be accessible via the company's investor relations website, with an archive available for 30 days.
Chefs' Warehouse specializes in distributing over 50,000 specialty food products to more than 35,000 customers across the U.S. and Canada.
The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) announced an increase in its full year 2022 guidance, reflecting strong customer demand despite supply chain challenges. The updated projections include net sales between $2.325 billion and $2.425 billion, up from $2.13 billion to $2.23 billion; gross profit between $542.0 million and $565.0 million, increased from $500.0 million to $524.0 million; and adjusted EBITDA of $130.0 million to $140.0 million, an increase from $103.0 million to $112.0 million. The company aims to enhance efficiencies through strategic investments.
The Chefs' Warehouse, a leading food product distributor in North America, will present at the Jefferies Consumer Conference on June 20, 2022, at 8:00 a.m. ET. Investors can access the webcast on the Company's investor relations website. This presentation highlights the Company's focus on meeting the needs of chefs at top restaurants, hotels, and culinary schools across the U.S. and Canada, with over 50,000 products distributed to more than 35,000 customer locations.
On June 1, 2022, The Chefs’ Warehouse (NASDAQ: CHEF) announced its Great Place To Work® Certification™, awarded by the Great Place to Work® Institute. CEO Christopher Pappas praised the company's supportive and inclusive culture, emphasizing a commitment to high-trust and high-performance work environments. This certification reflects the company's dedication to employee experience and indicates a strong position in the industry. The Chefs’ Warehouse continues to serve over 35,000 customers as a leading distributor of specialty foods in North America.
The Chefs' Warehouse, a leading distributor of specialty food products in North America, will present at the BMO Global Farm to Market Conference on May 18, 2022. The event takes place at the Lotte New York Palace Hotel, starting at 2:00 p.m. ET. Investors and interested parties can access a webcast of the presentation via the Company’s investor relations website. With over 50,000 products distributed to 35,000 locations across the U.S. and Canada, The Chefs' Warehouse caters to a diverse clientele, including independent restaurants, hotels, and culinary institutions.
The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) reported strong Q1 2022 results, with net sales soaring 82.8% to $512.1 million, compared to $280.2 million in Q1 2021. GAAP net income reached $1.4 million ($0.04/share), rebounding from a net loss of $17.9 million in the prior year. Adjusted EBITDA rose to $21.5 million, reversing from a negative $9.5 million. Organic sales increased 62.9%, while gross profit surged 99.4% to $117.5 million. The company issued guidance for 2022 with estimated net sales of $2.13 to $2.23 billion, signaling continued growth.
The Chefs' Warehouse, Inc. (NASDAQ: CHEF) announced it will release its financial results for the first quarter ending March 25, 2022, before market opening on April 27, 2022. The company will also host a live conference call at 8:30 a.m. ET on the same day to discuss the results. Interested parties can access the call via the investor relations website, with an online archive available for 30 days. The Chefs' Warehouse specializes in distributing over 50,000 food products to more than 35,000 customer locations across the U.S. and Canada.
The Chefs’ Warehouse reported a significant financial turnaround for Q4 2021, with net sales soaring 98.2% to $558.3 million compared to Q4 2020. The company achieved a net income of $8.4 million or $0.22 per diluted share, reversing a loss of $37.1 million in the prior year. Adjusted EBITDA rose to $30.2 million, up from a negative $10.5 million.
For FY 2022, guidance estimates net sales between $2.1 billion and $2.2 billion and adjusted EBITDA between $99 million and $111 million.
The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) plans to release its financial results for the fourth quarter and fiscal year ending December 24, 2021, on February 9, 2022, before market opening. A conference call will be held at 8:30 a.m. ET on the same day to discuss these results, which will be available for live webcast on the Company's investor relations website. As a leading distributor of specialty food products in the U.S. and Canada, The Chefs' Warehouse serves a diverse clientele including independent restaurants and culinary schools.
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