Loading...
•
Jun 28, 2024
Chefs' Warehouse Q2 2024 Earnings Report
The company reported an increase in net sales and profitability, driven by organic sales growth and strategic acquisitions.
Key Takeaways
The Chefs' Warehouse reported an 8.3% increase in net sales to $954.7 million for the second quarter of 2024, driven by organic sales growth and acquisitions. GAAP net income rose to $15.5 million, or $0.37 per diluted share, compared to $9.9 million, or $0.25 per diluted share, in the same quarter of the previous year. Adjusted EBITDA increased to $56.2 million, reflecting strong customer demand and effective pricing strategies.
Net sales increased by 8.3% to $954.7 million compared to the second quarter of 2023.
GAAP net income was $15.5 million, or $0.37 per diluted share, up from $9.9 million, or $0.25 per diluted share, in the prior year.
Adjusted net income per share was $0.40, compared to $0.35 in the second quarter of 2023.
Adjusted EBITDA increased to $56.2 million from $51.1 million in the second quarter of the previous year.
Forward Guidance
The company provided fiscal 2024 full year financial guidance, projecting net sales between $3.665 billion and $3.785 billion, gross profit between $874.0 million and $902.0 million, and Adjusted EBITDA between $208.0 million and $219.0 million.
Positive Outlook
- Net sales in the range of $3.665 billion to $3.785 billion
- Gross profit to be between $874.0 million and $902.0 million
- Adjusted EBITDA to be between $208.0 million and $219.0 million
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...