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Mar 31, 2023
Chefs' Warehouse Q1 2023 Earnings Report
Reported financial results with net sales increasing and completed several acquisitions.
Key Takeaways
The Chefs' Warehouse reported a 40.5% increase in net sales to $719.6 million for the first quarter of 2023. GAAP net income remained consistent at $1.4 million, or $0.04 per diluted share. Adjusted EBITDA increased to $32.8 million, and adjusted net income per share rose to $0.12.
Net sales increased by 40.5% to $719.6 million compared to Q1 2022.
GAAP net income was $1.4 million, or $0.04 per diluted share, consistent with the previous year.
Adjusted net income per share increased to $0.12 compared to $0.10 in the first quarter of 2022.
Adjusted EBITDA increased to $32.8 million from $21.5 million in the prior year.
Forward Guidance
The Company is providing full year financial guidance. Estimated net sales for the full year of 2023 will be in the range of $3.20 billion to $3.30 billion; Gross profit to be between $768.0 million and $792.0 million and Adjusted EBITDA to be between $199.0 million and $207.0 million
Positive Outlook
- Estimated net sales for the full year of 2023 will be in the range of $3.20 billion to $3.30 billion
- Gross profit to be between $768.0 million and $792.0 million
- Adjusted EBITDA to be between $199.0 million and $207.0 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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