Chefs' Warehouse (CHEF) Misses Q1 EPS by 3c

Chefs' Warehouse (NASDAQ: CHEF) reported Q1 EPS of $0.05, $0.03 worse than the analyst estimate of $0.08. Revenue for the quarter came in at $262.4 million versus the consensus estimate of $265.2 million.

GUIDANCE:

Chefs' Warehouse sees FY2016 EPS of $0.77-$0.83, versus the consensus of $0.85. Chefs' Warehouse sees FY2016 revenue of $1.15-1.18 billion, versus the consensus of $1.18 billion.

“Our core specialty business is off to a strong start in 2016. During the quarter we reported organic growth of nearly 8% in our specialty division and case, unique customer and placement growth all in the mid to high single digits,” said Chris Pappas, chairman and chief executive officer of The Chefs' Warehouse, Inc. “Our protein division experienced very strong gross margin improvement compared to a year ago. We still have improvements to realize in that part of the business, but we are pleased with our progress so far. We see significant opportunity for much further improvement as we further integrate our protein operations with our specialty operations to promote cross selling, consolidate buying power, and leverage computer systems and management. We also opened our new facility in San Francisco during the quarter. This new facility will enable us to consolidate three facilities into one, allowing us to better leverage our distribution infrastructure.”

For earnings history and earnings-related data on Chefs' Warehouse (CHEF) click here.

You May Also Be Interested In

• Blackhawk Network (HAWK) Reports Q2 Loss of $0.07; Offers Guidance
• Gemini Space Station, Inc. (GEMI) Misses Q2 EPS by 32c
• Cineverse Corp (CNVS) Misses Q1 EPS by 20c; Offers Guidance