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Jun 25, 2021
Chefs' Warehouse Q2 2021 Earnings Report
Reported a strong increase in net sales and a return to profitability, driven by easing COVID-related restrictions and increased customer activity.
Key Takeaways
The Chefs' Warehouse reported a significant increase in net sales for the second quarter of 2021, driven by organic growth and acquisitions. The company returned to profitability with a net income of $1.1 million, compared to a net loss in the same quarter of the previous year. Adjusted EPS was $0.04, and adjusted EBITDA was $17.2 million.
Net sales increased by 111.0% to $423.0 million compared to Q2 2020.
GAAP net income was $1.1 million, or $0.03 per diluted share, a significant improvement from the net loss of $20.3 million in Q2 2020.
Adjusted EPS was $0.04, compared to $(0.57) in the second quarter of 2020.
Adjusted EBITDA was $17.2 million, a substantial increase from negative adjusted EBITDA of $(13.7) million in the prior year quarter.
Forward Guidance
Due to continued uncertainty regarding the pace of broader economic recovery and the timing of event and travel related business activity, the Company will not be providing guidance for 2021 at this time. The Company will look to provide guidance as it gains more clarity as to the pace of recovery, outlook and the broader post-pandemic related environment.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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