The Chefs’ Warehouse Reveals Fourth Quarter 2021 Financial Results; Chris Pappas Shares

The specialty sector is prepared for upcoming growth, especially as specialty distributor The Chefs’ Warehouse has unveiled a substantial operational boost with the release of its financial results for the fourth quarter ended December 24, 2021.

“Revenue trends were strong in the fourth quarter as we saw continued growth in consumer confidence in dining out across our markets,” said Chairman and Chief Executive Officer Chris Pappas. “December sales and business activity grew steadily as holiday customer traffic drove sequential volume increases commensurate with pre-COVID periods, even with a reduction in larger corporate parties and events.”

As noted in the report, the company’s net sales saw an increase of 98.2 percent, or $276.6 million, as it reached $558.3 million in net sales for the fourth quarter, compared to $281.7 million for the fourth quarter of 2020.

Other highlights from the financial report include:

• Gross profit increased approximately 113.5 percent to $125.7 million for the fourth quarter of 2021 from $58.9 million for the fourth quarter of 2020
• GAAP net income was $8.4 million, or $0.22 per diluted share, for the fourth quarter of 2021
• Adjusted EBITDA was $30.2 million for the fourth quarter of 2021 compared to a negative adjusted EBITDA of $10.5 million for the fourth quarter of 2020
• Operating income for the fourth quarter of 2021 was $15.8 million
• Net income for the fourth quarter of 2021 was $8.4 million, or $0.22 per diluted share

To dive deeper into the distributor’s financial results for the quarter, click here.

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