Chefs' Warehouse (CHEF) shares were down 2.5% in early trading Wednesday after the company reported lower-than-expected Q3 net sales and narrowed its full-year net sales guidance.
The company reported fiscal Q3 adjusted net income Wednesday of $0.36 per diluted share, up from $0.33 a year earlier.
Analysts polled by Capital IQ expected $0.34.
Net sales for the quarter ended Sept. 27 were $931.5 million, up from $881.8 million a year earlier.
Analysts surveyed by Capital IQ expected $936.5 million.
For fiscal 2024, the company said it now expects net sales in the range of $3.71 billion to $3.78 billion, compared with its prior outlook of $3.67 billion to $3.79 billion. Analysts polled by Capital IQ expect $3.77 billion.
Price: 40.20, Change: -1.02, Percent Change: -2.47
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