Chefs' Warehouse (CHEF) Reports In-Line Q3 EPS, Slight Beat on Revenues; Offers FY17 EPS/Revenue Guidance

Chefs' Warehouse (NASDAQ: CHEF) reported Q3 EPS of $0.11, in-line with the analyst estimate of $0.11. Revenue for the quarter came in at $325.1 million versus the consensus estimate of $322.32 million.

Full Year 2017 Guidance

Based on current trends in the business, the Company is providing the following updated financial guidance for fiscal year 2017:

• Net sales between $1.29 billion and $1.30 billion
• Gross profit between $327.0 million and $330.0 million
• Net income between $10.0 million and $10.8 million
• Net income per diluted share between $0.38 and $0.41
• Adjusted EBITDA between $64.5 million and $66.5 million
• Modified pro forma net income per diluted share between $0.39 and $0.43

This guidance is based on an effective tax rate of approximately 41.6% and fully diluted shares of approximately 26.2 million shares. Note that the Company does not expect the outstanding convertible notes to be dilutive and accordingly, those convertible shares are not included in the fully diluted share count.

GUIDANCE:

Chefs' Warehouse sees FY2017 EPS of $0.39-$0.43, versus the consensus of $0.41. Chefs' Warehouse sees FY2017 revenue of $1.29-1.3 billion, versus the consensus of $1.29 billion.

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

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