Q4 2025 Chefs' Warehouse Inc Earnings Call Transcript
Key Points
- The Chefs' Warehouse Inc (CHEF) reported a strong year-over-year organic volume growth and new customer acquisition, indicating robust demand and market expansion.
- Organic net sales grew by 9.7% in the fourth quarter, with specialty sales up by 6.4%, driven by unique placement growth and price inflation.
- The company achieved a 9.1% full-year organic revenue growth, surpassing $4 billion in revenue for the first time in its history.
- Adjusted EBITDA grew by approximately 18%, with an adjusted EBITDA margin of 6.2%, reflecting improved operational efficiency.
- The company strengthened its balance sheet, with net debt to adjusted EBITDA approaching 2 times leverage, and continued to return cash to shareholders through a share buyback program.
- Gross profit margins decreased by approximately 8 basis points, indicating some pressure on profitability.
- Operating income for the fourth quarter decreased to $43.2 million from $46.5 million in the prior year, primarily due to an impairment charge.
- GAAP net income decreased to $21.7 million, or $0.50 per diluted share, compared to $23.9 million, or $0.55 per diluted share, in the previous year.
- The company faced challenges from extreme winter weather, impacting sales in early February, although this was noted as a temporary issue.
- Inflation in the center of plate category was high at 16.1%, although adjusted for attrition, it was 9.5%, indicating ongoing cost pressures.
Greetings, and welcome to The Chefsâ Warehouse fourth quarter 2025 earnings conference call. As a reminder, this call is being recorded.
I would now like to turn the conference over to your host, Alex Aldous, General Counsel, Corporate Secretary, and Chief Government Relations Officer. Thank you. Please go ahead.
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Thank you, operator. Good morning, everyone. With me on todayâs call are Chris Pappas, Founder, Chairman, and CEO, and Jim Leddy, our CFO. By now, you should have access to our fourth quarter 2025 earnings press release. It can also be found at www.chefswarehouse.com under the Investor Relations section.
Throughout the conference call, we will be presenting non-GAAP financial measures, including, among others, historical and estimated EBITDA, and adjusted EBITDA, as well as
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