Overview

* Chefs' Warehouse ( CHEF ) Q3 net sales rose 9.6%, beating analyst expectations

* Adjusted EPS for Q3 beats consensus, reflecting improved operational performance

* Company's growth driven by increased demand and market share gains

Outlook

* Chefs' Warehouse ( CHEF ) raises FY 2025 net sales guidance to $4.085 bln-$4.115 bln

* Company expects FY 2025 gross profit between $987 mln and $995 mln

* Chefs' Warehouse ( CHEF ) projects FY 2025 adjusted EBITDA of $247 mln-$253 mln

Result Drivers

* DEMAND AND MARKET SHARE - Co cites improved demand trends and market share gains as key drivers for Q3 results

* SPECIALTY CATEGORY GROWTH - Increased unique item placements and customer engagement drove growth in specialty category

* CENTER-OF-THE-PLATE DECLINE - Exit from non-core poultry program led to a decrease in organic pounds sold

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Sales Beat $1.02 $985.29

bln mln (8

Analysts

)

Q3 Beat $0.50 $0.41 (8

Adjusted Analysts

EPS )

Q3 $21.50

Adjusted mln

Net

Income

Q3 $65.09

Adjusted mln

EBITDA

Q3 $38.90

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the food retail & distribution peer group is "buy"

* Wall Street's median 12-month price target for Chefs' Warehouse Inc ( CHEF ) is $76.00, about 22.9% above its October 28 closing price of $58.61

* The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 34 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)