The Chefs' Warehouse, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 29, 2023
February 14, 2024 at 07:00 am
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The Chefs' Warehouse, Inc. reported earnings results for the fourth quarter and full year ended December 29, 2023. For the fourth quarter, the company reported sales was USD 950.47 million compared to USD 791.34 million a year ago. Net income was USD 16 million compared to USD 1.17 million a year ago. Basic earnings per share from continuing operations was USD 0.42 compared to USD 0.03 a year ago. Diluted earnings per share from continuing operations was USD 0.38 compared to USD 0.03 a year ago.
For the full year, sales was USD 3,433.76 million compared to USD 2,613.4 million a year ago. Net income was USD 34.59 million compared to USD 27.75 million a year ago. Basic earnings per share from continuing operations was USD 0.92 compared to USD 0.75 a year ago. Diluted earnings per share from continuing operations was USD 0.88 compared to USD 0.73 a year ago.
The Chefs' Warehouse, Inc. is a distributor of specialty food products in the United States, the Middle East and Canada. The Company offers stock-keeping units (SKUs), ranging from specialty foods and ingredients to basic ingredients and staples, produce and center-of-the-plate proteins. Its product categories include center-of-the-plate, dry goods, pastry, cheeses and charcuterie, produce, dairy and eggs, oils and vinegars and kitchen supplies. It operates through the food product distribution segment, which is concentrated primarily in the United States. The Companyâs customer base consists primarily of menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolateries, cruise lines, casinos and specialty food stores. Its center-of-the-plate products include custom cut beef, seafood and hormone-free poultry, as well as produce and food products, such as cooking oils, butter, eggs, milk and flour.