Chefs' Warehouse Files Q3 2024 10-Q

TL;DR

Chefs' Warehouse dropped its Q3 2024 10-Q. Check financials.

AI Summary

Chefs' Warehouse, Inc. filed its 10-Q for the period ending September 27, 2024. The filing covers financial information for the third quarter of 2024. Key financial data and operational details are presented for the company, which operates in the wholesale grocery and general line sector.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational status of Chefs' Warehouse, crucial for understanding the company's trajectory in the wholesale food distribution market.

Risk Assessment

Risk Level: medium — The filing is a routine quarterly report, but the wholesale food sector can be subject to economic fluctuations and supply chain disruptions.

Key Numbers

• Q3 2024 — Reporting Period (Financials for the third quarter of 2024 are detailed.)
• 12/27 — Fiscal Year End (Indicates the company's fiscal year concludes on December 27th.)

Key Players & Entities

• Chefs' Warehouse, Inc. (company) — Filer of the 10-Q report
• 20240927 (date) — End of the reporting period
• 20241030 (date) — Date of filing
• 0001517175 (company) — Central Index Key for Chefs' Warehouse, Inc.

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 CHEF The NASDAQ Stock Market LLC Indi

Filing Documents

• chef-20240927.htm (10-Q) — 1043KB
• chef-10qxex31x109272024.htm (EX-31.1) — 10KB
• chef-10qxex31x209272024.htm (EX-31.2) — 10KB
• chef-10qxex32x109272024.htm (EX-32.1) — 6KB
• chef-10qxex32x209272024.htm (EX-32.2) — 6KB
• chef-20240927_g1.jpg (GRAPHIC) — 244KB
• 0001517175-24-000015.txt ( ) — 6208KB
• chef-20240927.xsd (EX-101.SCH) — 37KB
• chef-20240927_cal.xml (EX-101.CAL) — 55KB
• chef-20240927_def.xml (EX-101.DEF) — 137KB
• chef-20240927_lab.xml (EX-101.LAB) — 515KB
• chef-20240927_pre.xml (EX-101.PRE) — 354KB
• chef-20240927_htm.xml (XML) — 780KB

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) September 27, 2024 December 29, 2023 ASSETS Current assets: Cash and cash equivalents $ 50,705 $ 49,878 Accounts receivable, net of allowances ($ 21,081 in 2024, $ 21,423 in 2023) 334,362 334,015 Inventories 336,289 284,528 Prepaid expenses and other current assets 70,958 62,522 Total current assets 792,314 730,943 Property and equipment, net 269,890 234,793 Operating lease right-of-use assets 181,689 192,307 Goodwill 356,591 356,021 Intangible assets, net 166,635 184,863 Other assets 6,507 6,379 Total assets $ 1,773,626 $ 1,705,306 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 232,153 $ 200,547 Accrued liabilities 66,153 70,728 Short-term operating lease liabilities 23,045 24,246 Accrued compensation 43,046 37,071 Current portion of long-term debt 64,716 53,185 Total current liabilities 429,113 385,777 Long-term debt, net of current portion 666,558 664,802 Operating lease liabilities 174,991 184,034 Deferred taxes, net 19,829 14,418 Other liabilities 2,790 1,603 Total liabilities 1,293,281 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 September 27, 2024 and December 29, 2023, respectively — — Common Stock - $ 0.01 par value, 100,000,000 shares authorized, 39,555,254 and 39,665,796 shares issued and outstanding at September 27, 2024 and December 29, 2023, respectively 396 396 Additional paid-in capital 358,647 356,157 Accumulated other comprehensive loss ( 2,564 ) ( 1,832 ) Retained earnings 123,866 99,951 Total stockholders' equity 480,345 454,672 Total liabilities and stockholders' equity $ 1,773,626 $ 1,705,306 See accompanying notes to the condensed consolidated financial statements. 4 THE CHEFS

View Full Filing

View this 10-Q filing on SEC EDGAR