The earnings call reflects a strong financial performance for Chefs' Warehouse, characterized by significant revenue growth, improved gross profit margins, and successful digital adoption. However, challenges persist with specific category margin pressures and increased operational costs. The company's outlook remains positive, focusing on continued growth and operational improvements.

Company Guidance

During The Chefs' Warehouse Fourth Quarter 2024 Earnings Conference Call, the company provided guidance for the fiscal year 2025, projecting net sales between $3.94 billion and $4.04 billion, gross profit ranging from $951 million to $976 million, and adjusted EBITDA between $233 million and $246 million. The call highlighted several key metrics from the fourth quarter of 2024, including an 8.7% increase in net sales to $1.034 billion, specialty sales growth of 11.5%, and a 23 basis point increase in gross profit margins. The company also reported a 13% increase in adjusted EBITDA per employee compared to 2023 and significant growth in digital platform adoption, with 56% of customers ordering online by the end of 2024. The call underscored a strategy focused on continued market expansion and leveraging digital investments to drive sustained gross profit and adjusted EBITDA growth over the next four years.

Record Revenue Achievement

Chefs' Warehouse achieved its first $1 billion plus revenue quarter, marking a significant milestone in the company's history.

Strong Sales and Growth Metrics

Net sales grew 8.7% year-over-year with specialty sales up 11.5%. Unique customer growth was approximately 4.5%, item placement growth was 12.3%, and specialty case growth was 6.1%.

Improvement in Gross Profit Margins

Gross profit increased 9.8% to $251 million with gross profit margins improving by 23 basis points to 24.3%.

Digital Platform Adoption

56% of domestic specialty customers are now ordering online, up from 48% in 2023, indicating strong adoption of digital ordering.

Financial Health and Debt Reduction

Net debt to adjusted EBITDA reduced to approximately 2.5x from 3.4x at year-end 2023, showing improved financial leverage.

Guidance for Continued Growth

The company provided a positive outlook for 2025 with expected net sales between $3.94 billion and $4.04 billion and adjusted EBITDA between $233 million and $246 million.

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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

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CHEF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 23, 2025	2025 (Q1)	0.20 / -	0.15	―	―	―
Feb 12, 2025	2024 (Q4)	0.50 / 0.55	0.47	17.02% (+0.08)
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)	―

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
Feb 12, 2025	$54.48	$59.61	+9.42%
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%

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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