By Chris Wack
Chef's Warehouse hit a 52-week high after the company reported fourth-quarter earnings that beat analysts' expectations.
The stock traded as high as $62.13 earlier in the session, and was 12% higher, at $61.18, at 1:25 p.m. ET.
The food distributor said it had quarterly earnings of $23.9 million, or 55 cents a share, compared with $16 million, or 38 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for earnings of $21.7 million, or 51 cents a share.
Sales for the quarter were $1.03 billion, compared with last year's $950.5 million and the $1 billion analysts were expecting.
Organic case count in the fourth quarter increased 6.1% in the company's specialty category, with unique customers and placements increases at 4.5% and 12.3% respectively, compared to the fourth quarter of 2023. Organic pounds sold in the Company's center-of-the-plate category increased 3.6%, compared to the prior year quarter.
Chefs' Warehouse also said it is expecting fiscal 2025 revenue of $3.94 billion to $4.04 billion, while analysts are forecasting 2025 revenue of $4 billion.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 12, 2025 13:41 ET (18:41 GMT)
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