This quarterly report represents an earnings surprise of 11.11%. A quarter ago, it was expected that this distributor of specialty food products would post earnings of $0.07 per share when it actually produced earnings of $0.15, delivering a surprise of 114.29%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. While Chefs' Warehouse has outperformed the market ...

公司概况 - 公司提供超过70,000种SKU的高品质特色食品和原料，主要服务于44,000家独立餐厅和高端餐厅[84] 收购动态 - 2023年5月1日以8,820万美元收购了北加州领先的农产品和特色食品分销商GreenLeaf[85] - 2023年3月20日以4,140万美元收购了德克萨斯州特色农产品分销商Hardie's Fresh Foods[86] 财务表现 - 2024年第二季度销售额为9.547亿美元，同比增长8.3%，其中有7.2%来自有机增长[88] - 2024年第二季度毛利率为24.0%，同比提升35个基点[90] - 2024年第二季度销售、一般及管理费用占销售额的20.4%，同比上升10个基点[92,93] - 2024年第二季度所得税有效税率为30.0%，同比上升4个百分点[98,99] - 2024年上半年销售额为18.292亿美元，同比增长14.2%，其中有7.9%来自有机增长[101,102] - 2024年上半年毛利率为24.0%，同比提升36个基点[103,104] - 2024年上半年销售、一般及管理费用占销售额的21.1%，同比上升20个基点[105,106,107] 现金流情况 - 公司经营活动产生的现金流量净额为6,022.6万美元，较上年同期增加4,944.3万美元，主要由于销售增长和当期存货采购水平较低[124] - 投资活动使用的现金流量净额为3,343.8万美元，主要用于3,310万美元的资本支出[125] - 筹资活动使用的现金流量净额为3,836.3万美元，主要包括1,450万美元的偿还债务和其他融资义务、1,000万美元的股票回购、730万美元的支付股权激励计划相关税款、360万美元的应付对价付款以及380万美元的融资租赁付款[126] 利率风险 - 截至2024年6月28日，公司有3.676亿美元的浮动利率债务，如果市场利率上升100个基点，公司的税后收益将减少约260万美元[128]

财务业绩 - 第二季度销售额增长8.3%至9.547亿美元[4] - 第二季度GAAP净收益为1550万美元，每股摊薄收益0.37美元[11] - 第二季度调整后每股收益为0.40美元[12] - 第二季度调整后EBITDA为5620万美元[12] - 公司调整后EBITDA为9,634万美元，较上年同期增加14.77%[38,40] - 公司调整后每股收益为0.55美元，较上年同期增加14.58%[46] - 公司调整后净利润为2,288万美元，较上年同期增加20.78%[46] - 公司在2024财年第二季度的调整后净收入为1,701.3万美元，同比增长18.3%[53] - 公司在2024财年上半年的调整后净收入为2,287.6万美元，同比增长20.8%[53] 财务预测 - 预计2024财年全年销售额在36.65亿美元至37.85亿美元之间[13] - 预计2024财年全年毛利在8.74亿美元至9.02亿美元之间[13] - 预计2024财年全年调整后EBITDA在2.08亿美元至2.19亿美元之间[13] - 公司2024财年的调整后EBITDA预计在1.828亿美元至1.928亿美元之间[56] - 公司2024财年的调整后EBITDA预计在2.08亿美元至2.19亿美元之间[57] - 公司2024财年的净收入预计在5.1亿美元至5.3亿美元之间[56] - 公司2024财年的每股摊薄调整后净收益预计在0.55美元至0.40美元之间[54] - 公司2024财年的股票补偿费用预计在1,700万美元至1,800万美元之间[57] - 公司2024财年的重复租金费用预计为400万美元[57] - 公司2024财年的其他营业费用预计为350万美元[57] - 公司2024财年的搬迁费用预计为75万美元[57] 经营情况 - 第二季度独特客户和商品陈列量分别增长8.2%和11.3%[4] - 第二季度中心餐品类销量增长约2.9%[4] - 第二季度毛利率增加约35个基点至24.0%[5] 财务状况 - 公司总负债为12.54亿美元，较上年同期增加0.23%[28] - 公司股东权益为4.62亿美元，较上年同期增加1.58%[29] - 公司总资产为17.15亿美元，较上年同期增加0.59%[30] - 公司经营活动产生的现金流量净额为6,023万美元，较上年同期增加458.91%[31,32] - 公司投资活动产生的现金流量净额为-3,344万美元，较上年同期减少76.58%[33] - 公司融资活动产生的现金流量净额为-3,836万美元，较上年同期减少216.67%[34,35] - 公司基本每股收益为0.46美元，较上年同期增加53.33%[37]

The conference call will be webcast live from the Company's investor relations website at http://investors.chefswarehouse.com/. An online archive of the webcast will be available on the Company's investor relations website for 30 days. The Chefs' Warehouse, Inc. is a premier distributor of specialty food products in the United States, the Middle East and Canada focused on serving the specific needs of chefs who own and/or operate some of the nation's leading menu-driven independent restaurants, fine dining ...

Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, investors find themselves loaded up on expensive shares with limited to no upside or even a downside. So, going all-in on momentum could be risky at times. Chefs' Warehouse (CHEF) is one of the several great candidates that made it through the screen. While there are numerous reason ...

FilippoBacci Synopsis The Chefs' Warehouse, Inc. (NASDAQ:CHEF) is a major distributor of specialty food and centre-of-plate products in North America and the Middle East. With strong distribution networks and a large customer base, they serve food products of the highest grade and quality. CHEF has shown strong revenue growth throughout the years, with most of the sales coming from its recent strategic acquisitions. Although CHEF operates in an industry with high volume but a relatively lower profit mar ...

This quarter's earnings update contained some good news for investors.Chefs' Warehouse (CHEF 5.56%) stock was strong on Wednesday as shares jumped 6% by early afternoon trading. That's compared to a modest decline in the S&P 500. The rally added to a great run for the specialty foods distributor's stock. Shares are up 19% so far in 2024, beating the wider market's 5% uptick.Wednesday's gains were sparked by management's first-quarter update, which was stuffed with good news about the business's operating tr ...

财务数据和关键指标变化 - 第一季度净销售额增长21.5%至8.745亿美元,其中有8.8%的有机增长和12.7%的收购带来的增长 [1][2] - 毛利润增长23.4%至2.094亿美元,毛利率提升37个基点至23.9% [2][3] - 经营收入增长34.5%至1.6亿美元 [3] - 非GAAP调整后EBITDA增长22.6%至4,020万美元 [3] - 非GAAP调整后每股收益增长25%至0.15美元 [3] 各条业务线数据和关键指标变化 - 特色食材销售有7%的有机增长,主要得益于客户数量增加约10.1% [1][2] - 中心餐品类销量有6.2%的有机增长 [2] - 特色食材毛利率保持不变,中心餐品类毛利率增加19个基点 [2] 各个市场数据和关键指标变化 - 中东业务表现良好,唯一的挑战是暴雨天气导致的短期中断 [5] 公司战略和发展方向及行业竞争 - 公司持续投资于设施、系统和人才,以提升运营效率和客户服务能力 [4][6] - 公司专注于为高端餐饮客户提供优质服务,认为自己在这一细分市场具有竞争优势 [4][6] - 公司通过收购和内部整合,不断扩大在特色食材和蛋白质品类的覆盖范围 [2][3] 管理层对经营环境和未来前景的评论 - 管理层认为公司客户群体相对更能抵御经济波动,但仍会密切关注宏观环境变化 [4][6] - 管理层对公司未来保持乐观态度,认为公司的投资和战略举措将持续推动业绩增长 [4][6] 问答环节重要的提问和回答 问题1 **Alex Slagle提问** 询问公司毛利率大幅提升的原因 [4] **Jim Leddy回答** 公司在销售定价、采购和运营方面的努力推动了毛利率的提升,同时数字化工具的应用也发挥了作用 [4] 问题2 **Mark Carden提问** 询问公司是否看到客户在菜单价格方面的压力 [5] **Chris Pappas回答** 公司认为高端餐饮客户相对更能抵御经济波动,不太可能出现大规模降价,但可能会采取一些促销手段 [5] 问题3 **Andrew Wolf提问** 询问公司强劲的有机增长是否主要来自于市场份额的提升 [7] **Chris Pappas回答** 公司通过持续投资于设施、技术和人才,不断提升自身的竞争力,从而获得更多市场份额 [7]

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized on May 1, 2024. THE CHEFS' WAREHOUSE, INC. (Registrant) Date: May 1, 2024 /s/ James Leddy James Leddy Chief Financial Officer (Principal Financial Officer) Date: May 1, 2024 /s/ Timothy McCauley Timothy McCauley Chief Accounting Officer (Principal Accounting Officer) 23 UNITED STATES SECURITIES AND EXCHA ...

The Chefs' Warehouse Reports First Quarter 2024 Financial Results Financial highlights for the first quarter of 2024: First Quarter Fiscal 2024 Results Selling, general and administrative expenses increased by approximately 21.9% to $190.3 million for the first quarter of 2024 from $156.1 million for the first quarter of 2023. The increase was primarily due to higher depreciation and amortization driven by acquisitions and facility investments, and higher costs associated with compensation and benefits, fac ...