Chefs' Warehouse Q2 2024 10-Q Filed
Ticker: CHEF · Form: 10-Q · Filed: Jul 31, 2024 · CIK: 1517175
| Field | Detail |
|---|---|
| Company | Chefs' Warehouse, Inc. (CHEF) |
| Form Type | 10-Q |
| Filed Date | Jul 31, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
Chefs' Warehouse Q2 2024 results are in. Check the 10-Q for the latest numbers.
AI Summary
Chefs' Warehouse, Inc. filed its 10-Q for the period ending June 28, 2024. The company reported financial results for the second quarter of 2024, detailing its revenue, expenses, and net income. Specific financial figures for the quarter and year-to-date periods are included, reflecting the company's operational performance.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for Chefs' Warehouse, crucial for understanding the company's current business health and future prospects.
Risk Assessment
Risk Level: medium — As a publicly traded company, a 10-Q filing inherently carries medium risk due to the potential for financial performance fluctuations and market reactions.
Key Numbers
- Q2 2024 — Reporting Period (Financial results for the second quarter of 2024 are detailed.)
- 2024-06-28 — Fiscal Period End Date (The 10-Q covers financial data up to this date.)
Key Players & Entities
- Chefs' Warehouse, Inc. (company) — Filer of the 10-Q
- 20240628 (date) — End of reporting period
- 20240731 (date) — Filing date
FAQ
What is the fiscal year end for Chefs' Warehouse, Inc.?
The fiscal year end for Chefs' Warehouse, Inc. is December 27.
What is the SEC file number for Chefs' Warehouse, Inc.?
The SEC file number for Chefs' Warehouse, Inc. is 001-35249.
What is the primary business address of Chefs' Warehouse, Inc.?
The primary business address is 100 East Ridge Road, Ridgefield, CT 06877.
What was the previous name of the company?
The former company name was Chefs' Warehouse Holdings, LLC, with a date of name change on April 1, 2011.
What is the SIC code for Chefs' Warehouse, Inc.?
The Standard Industrial Classification code is 5141, for Wholesale - Groceries & General Line.
Filing Stats: 4,601 words · 18 min read · ~15 pages · Grade level 16.1 · Accepted 2024-07-31 07:32:05
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 CHEF The NASDAQ Stock Market LLC Indi
Filing Documents
- chef-20240628.htm (10-Q) — 978KB
- chef-10qxex31x106282024.htm (EX-31.1) — 10KB
- chef-10qxex31x206282024.htm (EX-31.2) — 10KB
- chef-10qxex32x106282024.htm (EX-32.1) — 6KB
- chef-10qxex32x206282024.htm (EX-32.2) — 6KB
- chef-20240628_g1.jpg (GRAPHIC) — 244KB
- 0001517175-24-000013.txt ( ) — 6017KB
- chef-20240628.xsd (EX-101.SCH) — 35KB
- chef-20240628_cal.xml (EX-101.CAL) — 55KB
- chef-20240628_def.xml (EX-101.DEF) — 130KB
- chef-20240628_lab.xml (EX-101.LAB) — 501KB
- chef-20240628_pre.xml (EX-101.PRE) — 344KB
- chef-20240628_htm.xml (XML) — 752KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Condensed Consolidated Financial Statements (unaudited)
Item 1. Condensed Consolidated Financial Statements (unaudited): 4 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Operations and Comprehensive Income 5 Condensed Consolidated Statements of Changes in Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 8 Notes to Condensed Consolidated Financial Statements 9
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 17
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 22
Controls and Procedures
Item 4. Controls and Procedures 22
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 22
Risk Factors
Item 1A. Risk Factors 22
Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities
Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 22
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 23
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 23
Other Information
Item 5. Other Information 23
Exhibits
Item 6. Exhibits 24
Signatures
Signatures 25 2 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
FINANCIAL INFORMATION
PART I FINANCIAL INFORMATION
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE CHEFS' WAREHOUSE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Amounts in thousands, except share data) June 28, 2024 December 29, 2023 ASSETS Current assets: Cash and cash equivalents $ 38,340 $ 49,878 Accounts receivable, net of allowances ($ 22,493 in 2024, $ 21,423 in 2023) 323,433 334,015 Inventories 310,355 284,528 Prepaid expenses and other current assets 68,421 62,522 Total current assets 740,549 730,943 Property and equipment, net 259,585 234,793 Operating lease right-of-use assets 179,813 192,307 Goodwill 356,531 356,021 Intangible assets, net 172,461 184,863 Other assets 6,482 6,379 Total assets $ 1,715,421 $ 1,705,306 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 220,391 $ 200,547 Accrued liabilities 61,761 70,728 Short-term operating lease liabilities 23,502 24,246 Accrued compensation 37,254 37,071 Current portion of long-term debt 56,626 53,185 Total current liabilities 399,534 385,777 Long-term debt, net of current portion 660,759 664,802 Operating lease liabilities 173,042 184,034 Deferred taxes, net 17,413 14,418 Other liabilities 2,794 1,603 Total liabilities 1,253,542 1,250,634 Commitments and contingencies Stockholders' equity: Preferred Stock - $ 0.01 par value, 5,000,000 shares authorized, no shares issued and outstanding at June 28, 2024 and December 29, 2023, respectively — — Common Stock - $ 0.01 par value, 100,000,000 shares authorized, 39,805,717 and 39,665,796 shares issued and outstanding at June 28, 2024 and December 29, 2023, respectively 398 396 Additional paid-in capital 356,363 356,157 Accumulated other comprehensive loss ( 2,284 ) ( 1,832 ) Retained earnings 117,406 99,951 Treasury stock ( 10,004 ) — Total stockholders' equity 461,879 454,672 Total liabilities and stockholders' equity $ 1,715,421 $ 1,705,306 See accompanying notes to the condensed consolidated financial statements.