The Chefs' Warehouse (CHEF) Misses Q2 EPS by 3c, Sales Beat

The Chefs' Warehouse (NASDAQ: CHEF) reported Q2 EPS of $0.18, $0.03 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $213.1 million versus the consensus estimate of $205.87 million.

The Chefs' Warehouse sees FY2014 EPS of $0.63-$0.71, versus the consensus of $0.67. The Chefs' Warehouse sees FY2014 revenue of $840 million, versus the consensus of $825 million.

"The second quarter was solidly in line with our expectations for our core specialty distribution businesses, as we continued to see sequential improvement in unique customer, placement and case growth during the quarter," said Chris Pappas, chairman and chief executive officer of The Chefs' Warehouse, Inc. "We experienced significant inflation in the protein category, particularly at our Allen Brothers subsidiary, which we were unable to pass through to customers, negatively impacting our overall results. We have made significant steps in addressing these challenges and are confident in the long-term opportunities to build upon the Allen Brothers brand. We also continue to work on upgrading the Allen Brothers and Michael's Finer Meats technology platforms as well as integrating our standard practices in both businesses to make them run as efficiently as possible."

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

You May Also Be Interested In

• Jefferies sees a buying opportunity in this S&P 500 sector
• CorMedix (CRMD) Tops Q2 EPS by 6c; Offers Guidance
• McGraw Hill (MH) Tops Q2 EPS by 11c, Beats on Revenue; Offers FY26 Guidance