Chefs' Warehouse Stock Price, News & Analysis

The Chefs' Warehouse reported a third quarter net loss of $11.4 million, or $(0.31) per diluted share, a decline from net income of $4.4 million in Q3 2019. Net sales fell by 36.0% to $254 million year-on-year, with a 44.9% decline in organic revenue. However, on a sequential basis, net sales improved by 26.7% or $53.5 million from Q2 2020. Adjusted EBITDA was $(4.9) million, down from $21.6 million a year earlier. The company held $193 million in cash, while full-year guidance was not provided due to ongoing market uncertainties.

The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) will announce its financial results for the third quarter ended September 25, 2020, before market opens on October 28, 2020. A conference call will follow at 8:30 a.m. ET on the same day to discuss the results. The call will be available for live streaming on the Company’s investor relations website, with an archive accessible for 30 days.

Chefs’ Warehouse is a leading distributor of specialty food products in the U.S. and Canada catering to chefs in various culinary sectors.

The Chefs' Warehouse, Inc. (NASDAQ:CHEF) has announced the acquisition of selected assets from Harris Seafood LLC, based in Orlando, Florida, aimed at accelerating seafood category growth in the Southeast. CEO Christopher Pappas expressed excitement about leveraging Harris Seafood's local relationships to enhance seafood quality. The acquisition aligns with the company's focus on high-quality food distribution across North America, supporting their commitment to chefs and culinary excellence.

The Chefs’ Warehouse (NASDAQ: CHEF) reported a 51.3% decrease in net sales for Q2 2020, totaling $200.5 million, down from $411.4 million in Q2 2019. The net loss was $20.3 million or $(0.57) per share, compared to a net income of $7.7 million or $0.26 per share in the prior year. Adjusted EBITDA was $(13.7) million. As of July 24, 2020, the company had $241.8 million in available liquidity. Due to ongoing uncertainty from COVID-19, no guidance for 2020 was provided.

The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) will release its second quarter financial results for the period ended June 26, 2020, on July 29, 2020, prior to market opening. A conference call is scheduled for the same day at 8:30 a.m. ET to discuss these results. Interested parties can access the call through the Company’s investor relations website, where a recording will be available for 30 days post-event. The Chefs’ Warehouse is a leading distributor of specialty food products serving a diverse range of culinary establishments across North America.

On June 10, 2020, The Chefs’ Warehouse announced its participation in the virtual Jefferies Consumer Conference, scheduled for June 24, 2020, at 1:30 p.m. ET. The company is a leading distributor of specialty food products in the U.S. and Canada, catering to chefs in various sectors, including independent restaurants and hotels. With a portfolio of over 55,000 products, The Chefs’ Warehouse serves more than 34,000 customers. Investors can access the presentation via the company’s investor relations website.

The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) announced a $75 million common stock purchase agreement with Jefferies LLC, which includes an over-allotment option of $11.25 million. The offering aims to enhance liquidity and will fund general corporate purposes like working capital, debt repayment, and investments in sales operations. The shares are offered under a shelf registration statement effective April 10, 2020. This press release clarifies that it is not an offer to sell or buy any shares and provides details on obtaining related documents from the SEC.

RIDGEFIELD, Conn., May 08, 2020 – The Chefs' Warehouse, a key specialty food distributor in the U.S., will present at the virtual BMO Global Farm to Market Conference on May 13, 2020, at 4:00 p.m. ET. Investors can access the presentation via the Company's investor relations website. With a portfolio of over 55,000 products, The Chefs' Warehouse caters to more than 34,000 customers, including restaurants, hotels, and culinary schools across the U.S. and Canada.

The Chefs’ Warehouse reported a 5.2% increase in net sales to $375.4 million in Q1 2020, up from $357.0 million in Q1 2019. However, the GAAP net loss was $14.1 million (or $(0.48) per diluted share), a decline from a net income of $1.1 million (or $0.04 per diluted share) in the prior year. Adjusted EBITDA was $(13.8) million, marking a significant decrease. The company suspended its 2020 guidance amid uncertainty from the COVID-19 pandemic.