NASDAQ$CHEF

The Chefs' Warehouse Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Reported a net sales increase of 5.2% but experienced a net loss due to the impact of COVID-19.

The Chefs' Warehouse reported a 5.2% increase in net sales for the first quarter of 2020, reaching $375.4 million. However, the company experienced a GAAP net loss of $14.1 million, or $(0.48) per diluted share, and an adjusted EPS of $(0.60). The results were impacted by the COVID-19 pandemic, which led to government-mandated shutdowns and increased operating expenses.

  • Net sales increased by 5.2% to $375.4 million compared to the first quarter of 2019.
  • GAAP net loss was $14.1 million, or $(0.48) per diluted share, compared to net income of $1.1 million, or $0.04 per diluted share, in the first quarter of 2019.
  • Adjusted EPS was $(0.60) compared to $0.05 for the first quarter of 2019.
  • The company had approximately $200.0 million of cash on the balance sheet as of April 30, 2020.

Headline financials

Total Revenue

$375M

Previous: $357M+5.2%
EPS (adj)

-$0.60

Previous: $0.05-1300.0%
Gross Profit Margin

24.2%

Previous: 25.3%-4.3%
Free Cash Flow

-$14.1M

Previous: $1.13M-1342.1%
Net Income

-$14.1M

Previous: $1.13M-1342.1%
Operating Income

-$17M

Previous: $6.15M-376.7%
Gross Profit

$90.9M

Previous: $90.2M+0.8%
Cash & Equivalents

$194M

Previous: $17.3M+1017.5%
Total Assets

$1.11B

Previous: $847M+30.7%
Stock-Based Comp

$851K

Previous: $915K-7.0%

Revenue & EPS history

Chefs' Warehouse · Revenue · Quarterly

$375M

Q1 2020+5.2%vs Q1 2019
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Forward guidance

The company suspended its full year 2020 guidance due to the uncertain economic environment created by the COVID-19 forced shutdown.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

+1.8%

Avg return

Earnings day

+3.2%

Avg return

5 days after

+5.7%

Avg return

30 days after

59%

38 / 64 earnings

Positive

+24.6%

Q3 2023

Best reaction

-28.8%

Q2 2016

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+17.8%+21.4%+19.1%
Q4 2025-1.9%+4.7%-1.2%
Q3 2025+6.2%+3.6%+4.6%
Q1 2025+6.9%+14.0%+19.7%
Q4 2024+9.4%+19.9%-3.7%
Q3 2024-3.2%-3.0%+8.5%
Q2 2024-1.5%-10.4%+3.9%
Q1 2024+11.7%+14.1%+19.2%
Q4 2023+3.7%+10.3%+12.8%
Q3 2023+24.6%+26.8%+43.2%
Q2 2023-17.2%-17.6%-22.1%
Q1 2023+4.5%+7.1%-1.7%
Q4 2022-5.1%-3.4%-15.4%
Q3 2022+4.1%+7.3%+10.9%
Q2 2022-2.6%-4.2%-9.1%
Q1 2022+1.1%+2.6%-1.7%
Q4 2021+7.5%+6.3%-8.8%
Q3 2021+14.9%+21.9%+6.4%
Q2 2021+10.2%+6.1%+13.6%
Q1 2021-8.1%-10.5%-12.6%
Q4 2020-2.2%-0.1%+13.3%
Q3 2020-13.2%-13.8%+45.7%
Q2 2020+4.4%-4.4%+39.7%
Q1 2020+10.7%+25.3%+59.1%
Q4 2019-4.1%-5.5%-55.5%
Q3 2019-14.4%-11.7%-8.1%
Q2 2019+3.3%+2.8%+7.2%
Q1 2019+1.7%+5.5%-3.1%
Q4 2018-4.2%-4.8%-14.0%
Q3 2018+4.1%+3.9%+13.3%
Q2 2018+7.8%+7.1%+9.1%
Q1 2018+11.7%+9.1%+5.0%
Q4 2017+9.2%+11.1%+22.0%
Q3 2017-19.2%-9.5%+0.2%
Q2 2017+18.2%+22.3%+13.7%
Q1 2017+9.5%+6.2%+11.4%
Q4 2016-3.5%-4.7%-12.7%
Q3 2016+1.8%+1.8%+18.4%
Q2 2016-28.8%-32.0%-29.5%
Q1 2016-17.5%
Q4 2015+21.4%
Q3 2015+13.3%
Q2 2015-9.9%
Q1 2015+5.2%
Q4 2014+0.9%
Q3 2014-0.2%
Q2 2014-0.2%
Q1 2014-6.2%
Q4 2013-2.2%
Q3 2013-5.5%
Q2 2013+10.3%
Q1 2013+11.4%
Q4 2012+4.3%
Q3 2012-4.8%
Q2 2012-19.1%
Q1 2011-2.7%
Q1 2012+4.4%
Q2 2011+4.4%
Q4 2011+4.4%
Q4 2009+4.4%
Q3 2010-4.4%
Q3 2011+9.4%
Q4 2010+9.4%
Q2 2010+9.4%
Q1 2010

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