Chefs' Warehouse, Inc.

Chefs' Warehouse, Inc. reported strong financial results for the third quarter and first nine months of fiscal year 2026. Net sales increased by 11.2% to $1.135 billion for the quarter and by 11.8% to $3.363 billion for the nine-month period. Net income saw significant growth, reaching $29.6 million for the quarter and $80.8 million year-to-date. Diluted EPS also improved substantially, with $0.67 reported for Q3 2026 and $1.83 for the nine months. The company also completed a significant refinancing transaction in October 2026, issuing a new term loan and redeeming convertible notes.

Chefs' Warehouse, Inc. announced the redemption of all $287.5 million aggregate principal amount of its 2.375% Convertible Senior Notes due 2028, effective October 15, 2026. This action was triggered by the company's common stock price exceeding 130% of the conversion price. Note holders have the option to convert their notes until October 14, 2026, with an increased conversion rate due to a 'Make-Whole Fundamental Change'. Concurrently, the company is progressing with a refinancing plan, having upsized a new term loan facility to $675 million, which will be used to refinance existing debt, redeem the notes, and for general corporate purposes.

The Chefs' Warehouse, Inc. announced the commencement of a refinancing process for a new $625 million term loan facility. If successful, the proceeds from this facility will be utilized to repay certain existing indebtedness, including the current term loan facility and outstanding convertible notes. Additionally, funds will cover associated fees and general corporate purposes, though the company noted that the refinancing is subject to market and other considerations and is not guaranteed to be effected as described.

Chefs' Warehouse reported strong financial results for the thirteen weeks ended June 26, 2026, with net sales increasing by 12.9% to $1.17 billion and net income surging by 59.0% to $33.77 million. Diluted EPS also saw a significant rise of 55.1% to $0.76. For the twenty-six weeks, net sales grew by 12.2% to $2.23 billion, and net income increased by 62.2% to $51.13 million. The company also extended its share repurchase program.

The Chefs' Warehouse, Inc. reported strong financial results for the second quarter ended June 26, 2026, with net sales increasing 12.9% to $1.17 billion and GAAP diluted EPS rising 55.1% to $0.76. Adjusted EBITDA also saw significant growth, climbing 34.7% to $88.1 million. The company attributed the growth to excellent execution, market share gains through increased product penetration, case volume, and unique customers, alongside operational efficiency improvements. Chefs' Warehouse also provided full-year 2026 guidance, projecting net sales between $4.50 billion and $4.60 billion and adjusted EBITDA between $305 million and $315 million.

Chefs' Warehouse, Inc. held its 2026 Annual Meeting, where stockholders voted on three proposals. Eight directors were elected to serve until the 2027 annual meeting, while Ivy Brown did not stand for re-election, leaving a board seat vacant. Stockholders also ratified the selection of BDO USA, P.C. as the independent registered public accounting firm and approved, on an advisory basis, the compensation of the named executive officers.

Chefs' Warehouse, Inc. reported strong financial results for the thirteen weeks ended March 27, 2026, with net sales increasing 11.4% to $1.06 billion and net income surging 68.8% to $17.4 million. Diluted EPS also saw significant growth, rising 60.0% to $0.40. The company achieved improved gross profit margins and saw robust organic sales growth, complemented by contributions from recent acquisitions. Additionally, Chefs' Warehouse proactively managed its debt by making a voluntary principal prepayment and extended its share repurchase program for another ten years.

Chefs' Warehouse, Inc. reported strong financial results for the first quarter of 2026, with net sales increasing 11.4% to $1.06 billion. GAAP net income significantly improved to $17.4 million, or $0.40 per diluted share, compared to $10.3 million, or $0.25 per diluted share, in the prior year. Adjusted EBITDA also saw substantial growth, reaching $60.1 million. The company provided fiscal 2026 full-year guidance, projecting net sales between $4.35 billion and $4.45 billion, and adjusted EBITDA between $276 million and $286 million.

Ivy Brown resigned from the Board of Directors of The Chefs' Warehouse, Inc. on April 20, 2026, effective immediately. Her decision was attributed to personal reasons and was not a result of any disagreement with the company's operations, policies, or practices. Consequently, Ms. Brown will not be standing for re-election at the upcoming annual meeting on May 8, 2026, and her seat will remain vacant.