Business
The Chefs’ Warehouse, Inc. Increases Full Year 2022 Guidance
RIDGEFIELD, Conn., June 22, 2022 (GLOBE NEWSWIRE) -- The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) (the “Company”), a premier distributor of specialty food
About this update from The Chefs' Warehouse, Inc.
[{"type":"text","content":"RIDGEFIELD, Conn., June 22, 2022 (GLOBE NEWSWIRE) -- The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) (the “Company”), a premier distributor of specialty food products in North America, today announced that based on current trends in the business and the outlook for the remainder of 2022, the Company is raising full year 2022 guidance as follows: Net sales to be in the range of $2.325 billion to $2.425 billion, compared to a range of $2.13 billion to $2.23 billion previouslyGross profit to be in the range of $542.0 million to $565.0 million, compared to a range of $500.0 million to $524.0 million previouslyAdjusted EBITDA to be in the range of $130.0 million to $140.0 million, compared to a range of $103.0 million to $112.0 million previously “Strength in customer demand along with our team’s ability to merchandise the world’s finest ingredients with just in time service continues to drive solid financial performance, despite a challenging supply chain and food inflationary environment,” said Christopher Pappas, Chairman and Chief Executive Officer of the Company. “We look forward to leveraging the investments we are making in talent, capacity expansion, technology and operational process improvements to continue driving growth and increased efficiencies.” Forward-Looking Statements Statements in this press release regarding the Company’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties and are based on current expectations and management estimates; actual results may differ materially. Words such as “estimates”, “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control, are difficult to predict and/or could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Any projections of future results of operations are based on a number of assumptions, many of which are outside the Company’s control and should not be construed in any manner as a guarantee that such results will in fact occur. These projections are subject to change and could differ materially from...