Chef's Warehouse (CHEF) Q3 Earnings Coming Up: What to Expect
The Chef's Warehouse CHEF is likely to register an increase in the top line when it reports third-quarter 2023 earnings. The Zacks Consensus Estimate for quarterly revenues is pegged at $848.9 million, indicating a rise of 28.3% from the prior-year quarter’s reported figure.
The consensus estimate for third-quarter earnings of 33 cents per share suggests a decrease of 19.5% from the year-ago period’s actual. The consensus mark has been stable over the past 30 days.
The company has a trailing four-quarter earnings surprise of 14.9%, on average.
Factors to Note
Chef's Warehouse third-quarter results are likely to benefit from the solid execution of its strategic initiatives to enrich customers’ experience. The company has been enhancing its direct-to-consumer business, reinforcing market share in the specialty food distribution industry and expanding its food products. It has also been efficiently controlling its expenses.
The company has been making strategic buyouts to boost its penetration across the existing markets, enhancing its footprint into the new markets and upgrading its product capabilities. It has also been expanding its product portfolio, implementing tested sales force, and improving warehouse management and information systems. Such tailwinds are likely to have boosted the company’s results in the to-be-reported quarter.
On the flip side, a tough operating landscape, including inflationary pressures, is likely to have been a concern. Any deleverage in the operating expenses is expected to be reflected in Chef's Warehouse’s performance in the upcoming quarterly release.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Chef's Warehouse this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here, as you can see below. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
The Chefs' Warehouse, Inc. Price and EPS Surprise
The Chefs' Warehouse, Inc. price-eps-surprise | The Chefs' Warehouse, Inc. Quote
Chef's Warehouse has an Earnings ESP of +10.77% and a Zacks Rank #5 (Strong Sell).
Stocks Poised to Beat Earnings Estimates
Here are three companies, which according to our model, have the correct combination to beat on earnings this time:
The Boston Beer Company SAM currently has an Earnings ESP of +8.81% and a Zacks Rank of 3. The company is likely to register bottom-line growth when it reports third-quarter 2023 numbers. The Zacks Consensus Estimate for The Boston Beer Company’s quarterly earnings per share of $4.25 suggests an increase of 11.3% from the year-ago quarter’s levels. You can see the complete list of today’s Zacks #1 Rank stocks here.
SAM has a trailing four-quarter negative earnings surprise of 74.9%, on average. The consensus estimate for The Boston Beer Company’s quarterly revenues is pegged at $592.8 million, indicating a drop of 0.6% from the figure reported in the prior-year quarter.
Colgate-Palmolive Company CL currently has an Earnings ESP of +0.37% and a Zacks Rank of 3. The company is likely to register increases in the top and bottom lines when it reports third-quarter 2023 results. The Zacks Consensus Estimate for Colgate-Palmolive’s quarterly revenues is pegged at $4.8 billion, suggesting growth of 8% from the figure reported in the prior-year quarter.
The consensus estimate for quarterly earnings has remained unchanged in the past 30 days at 80 cents per share, which indicates 8.1% growth from the year-ago quarter's reported number. CL delivered an earnings surprise of 1.7%, on average, in the trailing four quarters.
Hershey HSY currently has an Earnings ESP of +1.29% and a Zacks Rank of 3. The company is likely to register top and bottom-line increases when it reports third-quarter 2023 numbers. The Zacks Consensus Estimate for the quarterly earnings per share of $2.47 suggests a 13.8% rise from the figure reported in the year-ago quarter.
The consensus estimate for Hershey’s quarterly revenues is pegged at about $3 billion, calling for growth of nearly 9% from the figure reported in the prior-year quarter. HSY has a trailing four-quarter earnings surprise of 8.9%, on average.
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Hershey Company (The) (HSY) : Free Stock Analysis Report
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The Chefs' Warehouse, Inc. (CHEF) : Free Stock Analysis Report
