NASDAQ$CHEF

The Chefs' Warehouse Inc · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Reported financial results for the third quarter ended September 24, 2021.

The Chefs' Warehouse reported strong third-quarter results with net sales increasing by 90.7% to $484.3 million compared to the third quarter of 2020. GAAP net income was $3.5 million, or $0.09 per diluted share, compared to a net loss of $11.4 million, or $(0.31) per diluted share, in the same period last year. Adjusted EPS was $0.12, and Adjusted EBITDA was $23.4 million, marking a significant improvement from the previous year.

  • Net sales increased 90.7% to $484.3 million compared to Q3 2020.
  • GAAP net income was $3.5 million, or $0.09 per diluted share, a significant improvement from the net loss of $11.4 million, or $(0.31) per diluted share, in Q3 2020.
  • Adjusted EPS was $0.12 compared to $(0.38) in the third quarter of 2020.
  • Adjusted EBITDA was $23.4 million, a substantial increase from negative adjusted EBITDA of $(4.9) million in the third quarter of 2020.

Headline financials

Total Revenue

$484M

Previous: $254M+90.7%
EPS (adj)

$0.12

Previous: -$0.38+131.6%
Gross Profit Margin

22.7%

Previous: 23.9%-5.0%
Free Cash Flow

$3.46M

Previous: -$11.4M+130.2%
Net Income

$3.46M

Previous: -$11.4M+130.2%
Operating Income

$10.4M

Previous: -$11.9M+187.5%
Gross Profit

$110M

Previous: $60.6M+81.4%
Cash & Equivalents

$134M

Previous: $209M-35.6%
Total Assets

$1.03B

Previous: $1.03B+0.0%
Stock-Based Comp

$2.71M

Previous: $2.08M+30.6%

Revenue & EPS history

Chefs' Warehouse · Revenue · Quarterly

$484M

Q3 2021+90.7%vs Q3 2020
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Forward guidance

Due to continued uncertainty regarding the pace of broader economic recovery and the timing of event and travel related business activity, the Company will not be providing guidance for 2021 at this time. The Company will look to provide guidance as it gains more clarity as to the pace of recovery, outlook and the broader post-pandemic related environment.

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 Q3 2021

Historical avgQ3 2021

+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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