NASDAQ$CHEF

The Chefs' Warehouse Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Reported strong financial results driven by increased net sales and improved profitability.

The Chefs' Warehouse reported a significant increase in net sales for the fourth quarter of 2021, driven by organic growth and acquisitions. The company's GAAP net income and adjusted EPS improved compared to the previous year, and adjusted EBITDA turned positive. The company provided financial guidance for fiscal year 2022.

  • Net sales increased by 98.2% to $558.3 million compared to Q4 2020.
  • GAAP net income was $8.4 million, or $0.22 per diluted share, compared to a net loss of $37.1 million in Q4 2020.
  • Adjusted EPS was $0.26 compared to $(0.52) in Q4 2020.
  • Adjusted EBITDA was $30.2 million compared to negative adjusted EBITDA of $(10.5) million in Q4 2020.

Headline financials

Total Revenue

$558M

Previous: $282M+98.2%
EPS (adj)

$0.26

Previous: -$0.52+150.0%
Gross Profit Margin

22.5%

No prior period
Net Income

$8.4M

Previous: -$37.1M+122.7%
Operating Income

$15.8M

Previous: -$48.3M+132.7%
Gross Profit

$126M

Previous: $58.9M+113.5%
Cash & Equivalents

$115M

Previous: $194M-40.5%
Total Assets

$1.07B

Previous: $974M+10.2%
Stock-Based Comp

$3.03M

Previous: $4.37M-30.6%

Revenue & EPS history

Chefs' Warehouse · Revenue · Quarterly

$558M

Q4 2021+98.2%vs Q4 2020
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Forward guidance

The Company is providing financial guidance for fiscal year 2022.

Tailwinds

  • Net sales between $2.1 billion and $2.2 billion
  • Gross profit between $494 million and $517 million
  • Adjusted EBITDA between $99 million and $111 million

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 Q4 2021

Historical avgQ4 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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