The Chefs Warehouse Up 14.77% To $21.84 After Earnings Miss

The Chefs Warehouse (CHEF) said before open Wednesday that it earned $0.33 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $881.8 million, beating estimates by $49.7 million.

In the same quarter a year ago, the company earned $0.41 per share on revenue of $661.9 million.

The stock is up 14.77% to $21.84 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned The Chefs Warehouse a Bullish Sentiment Rank from InvestorsObserver.

The Chefs Warehouse has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 6, putting The Chefs Warehouse in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $17.29 on October 30, 2023 and set a 52-week high on December 1, 2022 at $39.54.

The Chefs' Warehouse Inc is a specialty food distributor in major metropolitan areas across the United States and Canada. The company's product portfolio is primarily comprised of imported and local specialty food products such as cheese, cooking oils, chocolates, dried food, baking products, meats, and other food products. The Chefs' Warehouse operates via one reporting segment called Food Product Distribution. Operations are concentrated on the east, mid and west coasts of the U.S. The company provides service primarily to restaurants, clubs, hotels, caterers, schools, bakeries, casinos and speciality food stores.