Shares of Chefs' Warehouse (CHEF) plummeted more than 5% on Wednesday after the specialty food products distributor reported weaker-than-expected revenue for the third quarter and trimmed its full-year sales outlook.

For the three months ended September 27th, Chefs' Warehouse posted adjusted earnings per share of $0.36, beating analysts' average estimate of $0.34. However, net sales of $931.5 million fell short of the consensus forecast of $936.5 million.

Following the results, the company narrowed its full-year 2024 revenue guidance to a range of $3.71 billion to $3.78 billion, down from its previous expectation of $3.67 billion to $3.79 billion. Analysts on average had projected annual sales of $3.77 billion.