Welcome to our dedicated page for Chefs' Warehouse news (Ticker: CHEF), a resource for investors and traders seeking the latest updates and insights on Chefs' Warehouse stock.
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 has announced a private placement of $250 million in convertible senior notes due 2028, with an additional $37.5 million option for purchasers. The notes will be convertible into cash, shares, or a combination at the company's discretion. Proceeds will fund cash considerations for existing convertible notes exchanges and general corporate purposes. Due to potential exchanges and market activities, the trading price of common stock may be impacted. This transaction is not an offer to sell or buy securities that haven't been registered under the Securities Act.
The Chefs' Warehouse, Inc. (NASDAQ:CHEF) announced the acquisition of Chef Middle East (CME) from Gulf Capital, expanding its specialty food distribution footprint into the UAE, Qatar, and Oman. This move positions CHEF to benefit from the growing high-end food market in the region, with CME expected to generate $160-$180 million in net sales and $11-$14 million in EBITDA annually. The acquisition aims to leverage synergies, enhance service quality, and cater to the increasing demand from upscale restaurants and hotels.
The Chefs’ Warehouse reported robust financial results for Q3 2022, with net sales soaring by 36.7% to $661.9 million, compared to $484.3 million in Q3 2021. GAAP net income increased to $8.3 million, or $0.21 per diluted share, up from $3.5 million or $0.09 per share a year prior. Adjusted EBITDA reached $41.0 million, a significant rise from $23.4 million in Q3 2021. The company raised its full-year guidance, projecting net sales between $2.45 billion and $2.55 billion.
The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) is set to announce its financial results for Q3, ending September 23, 2022, before market opening on October 26, 2022. The company will also host a conference call to discuss these results at 8:30 a.m. ET the same day. Investors can access the live webcast on the Company's investor relations website, with an archived version available for 30 days thereafter. As a leading distributor of specialty food products in the U.S. and Canada, Chefs’ Warehouse serves over 35,000 customer locations with more than 50,000 products.
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.
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