Q2 2025 Chefs' Warehouse Inc Earnings Call Transcript
Key Points
- The Chefs' Warehouse Inc (CHEF) reported an 8.4% increase in net sales for the second quarter of 2025, reaching $1.035 billion.
- Gross profit increased by 11.1% to $254.3 million, with gross profit margins improving by approximately 59 basis points.
- The company achieved the Great Place to Work certification for the fourth consecutive year, highlighting its strong workplace culture.
- Adjusted EBITDA for the second quarter of 2025 was $65.4 million, up from $56.2 million in the prior year's second quarter.
- The company raised its full-year guidance for 2025, estimating net sales between $4 billion and $4.06 billion, and adjusted EBITDA between $240 million and $250 million.
- The attrition of non-core programs in Texas, such as the commodity protein program, led to a reported 4% decrease in Center-of-Plate pounds.
- Selling, general, and administrative expenses increased by 9.7% due to higher compensation, benefits, and self-insurance costs.
- The company faces ongoing challenges with inflation, particularly in the Center-of-Plate category, which saw a reported inflation rate of 10.8%.
- The impact of tariffs on imported goods, particularly from the EU, has contributed to inflationary pressures.
- The company anticipates continued headwinds from the Hardie's program attrition, affecting reported volume and price metrics until the second half of next year.
(Background Music)
Greetings and welcome to the Chefs' Warehouse, second quarter, 2025 earnings conference call.
As a reminder, this conference is being recorded.
I would now like to turn the conference over to your host, Alexandros Aldous, General Counsel, Corporate Secretary, and Chief government relations Officer. Please go ahead, sir.
'- -
Thank you, operator.
Good morning, everyone. With me on today's call are Christopher Pappas, founder, Chairman and CEO, and James Leddy, our CFO. By now you should have access to our second quarter 2025 earnings press release. It can also be found at www.chefswarehouse.com under the Investor Relations section. Throughout this conference call we will be presenting non-GAAP financial measures, including among others, historical and
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