The earnings call reflected a positive outlook with strong organic growth, improved gross profit margins, and increased net income. However, there were challenges, including the impact of Hurricane Beryl and softer demand in July. Overall, the sentiment is positive with a strong focus on strategic growth and efficiency improvements.

Company Guidance

During The Chefs' Warehouse Q3 2024 earnings call, the company provided guidance reflecting strong business growth and strategic initiatives. The company reported a 5.6% organic growth in net sales and a 7.5% increase in specialty sales, driven by a 4.7% growth in unique customer engagement. Gross profit margins improved by approximately 58 basis points compared to the prior year, with a notable increase in the specialty and center-of-the-plate categories. The company anticipates achieving its 2028 financial goals through initiatives such as route consolidation, digital platform enhancements, and operational efficiencies, contributing to an estimated 20 to 30 basis points annual EBITDA margin expansion. For the full year 2024, The Chefs' Warehouse projects net sales between $3.71 billion and $3.775 billion, gross profit between $890 million and $906 million, and adjusted EBITDA between $210 million and $219 million.

Strong Organic Growth

5.6% organic growth in net sales for Q3 2024, with specialty sales up 7.5% organically over the prior year.

Gross Profit Margin Improvement

Gross profit margins increased approximately 58 basis points to 24.1% compared to Q3 2023.

Digital Platform Adoption

Approximately 54% of customers ordering through domestic specialty locations are now online, up from 48% in 2023.

EBITDA Margin Improvement in Texas

Year-to-date 2024 EBITDA margin for combined Texas operations improved approximately 110 basis points versus the same period in 2023.

Increased Operating Income

Operating income for Q3 2024 was $31.9 million, up from $25.5 million in Q3 2023.

Net Income Growth

GAAP net income was $14.1 million for Q3 2024, compared to $7.3 million in Q3 2023.

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The Chefs' Warehouse (CHEF) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

CHEF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 12, 2025	2024 (Q4)	0.51 / -	0.47	―	―	―
Oct 30, 2024	2024 (Q3)	0.34 / 0.36	0.33	9.09% (+0.03)
Jul 31, 2024	2024 (Q2)	0.37 / 0.40	0.35	14.29% (+0.05)	―
May 01, 2024	2024 (Q1)	0.07 / 0.15	0.12	25.00% (+0.03)	―
Feb 14, 2024	2023 (Q4)	0.41 / 0.47	0.48	-2.08% (-0.01)	―
Nov 01, 2023	2023 (Q3)	0.34 / 0.33	0.41	-19.51% (-0.08)	―
Aug 02, 2023	2023 (Q2)	0.47 / 0.35	0.51	-31.37% (-0.16)
May 03, 2023	2023 (Q1)	0.09 / 0.12	0.1	20.00% (+0.02)	―
Feb 15, 2023	2022 (Q4)	0.46 / 0.48	0.26	84.62% (+0.22)	―
Oct 26, 2022	2022 (Q3)	0.28 / 0.41	0.12	241.67% (+0.29)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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CHEF Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 30, 2024	$41.22	$39.26	-4.75%
Jul 31, 2024	$41.23	$41.59	+0.87%
May 01, 2024	$33.08	$34.92	+5.56%
Feb 14, 2024	$33.56	$36.12	+7.63%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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