The Ridgefield, Connecticut‑based specialty‑food distributor reported first‑quarter 2026 results on April 29, 2026, with net sales of $1.059 billion, up 11.4% year‑over‑year. Organic sales grew $98.3 million, or 10.4%, while acquisitions added $10.0 million, bringing total revenue to a record high for the quarter.
Gross profit rose 13.9% to $257.4 million, expanding the gross‑profit margin by 53 basis points to 24.3%. The margin lift was driven by a 43‑basis‑point improvement in specialty‑food sales and a 110‑basis‑point gain in the center‑of‑the‑plate segment, reflecting stronger pricing and a favorable mix shift toward higher‑margin products.
Earnings per share reached $0.40, beating the consensus estimate of $0.27 by $0.13, a 48% surprise. The beat was largely a result of disciplined cost management and the margin expansion described above, which offset the modest increase in raw‑material costs and allowed the company to maintain profitability even as it grew revenue.
Compared with Q1 2025, net sales increased from $950.7 million to $1.059 billion, while GAAP diluted EPS climbed from $0.25 to $0.40. Adjusted EBITDA grew from $47.5 million to $60.1 million, underscoring the company’s ability to convert revenue growth into operating profit.
Management reaffirmed its fiscal‑2026 outlook, projecting full‑year revenue of $4.35 billion to $4.45 billion and adjusted EBITDA of $276 million to $286 million. The guidance remains unchanged from the prior quarter, indicating confidence in continued demand while acknowledging potential macro‑economic headwinds.
CEO Christopher Pappas noted that “despite some volatility in business due to extreme weather events and the start of the conflict in the Middle East later in the quarter, our businesses continued to grow market share, delivering strong year‑over‑year growth in volume, product penetration, unique customers, revenue and profitability.”
Investors responded favorably to the results, with the EPS beat, revenue beat, and margin expansion serving as key drivers of the positive market reaction. The strong earnings beat reinforced confidence in the company’s pricing power and operational execution.
The company highlighted ongoing tailwinds from the upscale dining sector, while acknowledging that extreme weather and geopolitical tensions could pose short‑term challenges. Nonetheless, the combination of robust demand, disciplined cost control, and a favorable product mix positions The Chefs’ Warehouse to sustain growth and profitability through the remainder of fiscal 2026.
The results underscore the company’s successful margin‑expansion strategy and its ability to navigate external headwinds while maintaining a strong growth trajectory.
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