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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, 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.
The Chefs' Warehouse, a leading distributor of specialty food products in North America, will present virtually at the 11th Annual Jefferies Winter Summit on January 25, 2022, at 10:00 a.m. ET. Investors can access the live webcast through the Company’s investor relations website. The Chefs' Warehouse serves over 34,000 customers, including fine dining establishments and culinary schools, distributing more than 55,000 products across the U.S. and Canada.
The Chefs' Warehouse, a leading distributor of specialty food products in North America, announced a virtual presentation at the 2022 ICR Conference on January 11, 2022, starting at 10:00 a.m. ET. Interested investors can access the presentation via the Company’s investor relations website. The Chefs' Warehouse services over 34,000 customers across the U.S. and Canada, distributing more than 55,000 products.
The Chefs' Warehouse, Inc. (NASDAQ:CHEF) has successfully acquired the assets of CGC Holdings, Inc., known as Capital Seaboard, a prominent supplier of produce and seafood in the Mid-Atlantic region. This acquisition aligns with Chefs' Warehouse's strategy to bolster its specialty food distribution capabilities. CEO Christopher Pappas expressed enthusiasm for the integration, emphasizing complementary services that will enhance customer experience. Founded in 1985, Capital Seaboard is recognized for quality and service, strengthening Chefs' Warehouse's market position.
The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) will virtually present at the Morgan Stanley Virtual Global Consumer & Retail Conference on December 1, 2021, at 2:25 p.m. ET. The Company is a premier distributor of specialty food products in North America, serving over 34,000 customer locations with more than 55,000 products. Interested investors can listen to the presentation via the Company's investor relations website.
The Chefs' Warehouse (NASDAQ:CHEF) has announced a partnership with the Food Education Fund to launch a collaborative Bridge Program beginning in spring 2022. This initiative aims to educate students on the culinary industry and provide mentoring in areas such as food sales and finance. CEO Chris Pappas emphasized the importance of supporting the future leaders in food and hospitality. The Chefs' Warehouse is a leading distributor of specialty food products, serving over 34,000 customer locations in the United States and Canada.
The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) reported a substantial 90.7% increase in net sales for Q3 2021, totaling $484.3 million compared to $254.0 million in Q3 2020. The company achieved a net income of $3.5 million, up from a net loss of $11.4 million the previous year. Adjusted EPS rose to $0.12, while adjusted EBITDA climbed to $23.4 million. Despite strong sales growth, the company refrained from providing full-year guidance due to economic uncertainties. Operating income improved to 2.2% of net sales.
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