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Sep 24, 2021
Chefs' Warehouse Q3 2021 Earnings Report
Reported financial results for the third quarter ended September 24, 2021.
Key Takeaways
The Chefs' Warehouse reported strong third-quarter results with net sales increasing by 90.7% to $484.3 million compared to the third quarter of 2020. GAAP net income was $3.5 million, or $0.09 per diluted share, compared to a net loss of $11.4 million, or $(0.31) per diluted share, in the same period last year. Adjusted EPS was $0.12, and Adjusted EBITDA was $23.4 million, marking a significant improvement from the previous year.
Net sales increased 90.7% to $484.3 million compared to Q3 2020.
GAAP net income was $3.5 million, or $0.09 per diluted share, a significant improvement from the net loss of $11.4 million, or $(0.31) per diluted share, in Q3 2020.
Adjusted EPS was $0.12 compared to $(0.38) in the third quarter of 2020.
Adjusted EBITDA was $23.4 million, a substantial increase from negative adjusted EBITDA of $(4.9) million in the third quarter of 2020.
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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