Stock Track | Chefs' Warehouse Plunges 5% as Q3 Revenue Misses Estimates

Stock Track

Oct 30, 2024

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.

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However, net sales of $931.5 million fell short of the consensus forecast of $936.5 million.</p>\n\n<p>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.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CHEF","symbol_name":"The Chefs’ Warehouse","start_time":0,"source_url":"","article_id":"1120791382","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1120791382","pubTimestamp":1730298276,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Chefs' Warehouse  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. 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