Chefs’ Warehouse (NASDAQ:CHEF) Releases Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Chefs’ Warehouse (NASDAQ:CHEF) released its quarterly earnings data on Wednesday. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.17, Zacks reports. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.01 billion. Chefs’ Warehouse had a net margin of 1.74% and a return on equity of 14.75%. Chefs’ Warehouse’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 EPS.

Here are the key takeaways from Chefs’ Warehouse’s conference call:

• The company delivered a strong Q1 with net sales up ~11.4% to $1.059 billion, organic sales +10.4%, gross profit +13.9%, and adjusted EBITDA rising to $60.1 million from $47.5 million, while gross margin expanded ~53 basis points.
• Performance was driven by North America (over 90% of revenue) and momentum continued into April with management reporting double?digit top?line growth and keeping full?year guidance intact with upside possible if the Middle East situation normalizes.
• The conflict in the Middle East trimmed roughly 50 basis points off Q1 organic growth and recent operations there have been running at about 75% of prior?year levels, creating a short?term demand/occupancy risk for a region that is under 10% of sales.
• Liquidity and capital allocation remain solid with total liquidity of $278.3 million, net debt of ~$522 million (~1.9x net debt/adjusted EBITDA), a $5 million term?loan prepayment, and $10 million of share repurchases while keeping capacity for opportunistic M&A.
• Management says it is effectively managing inflation (net inflation ~4.1%; specialty 1.5%, center?of?plate 8.2% — ~4.5% adjusted) through procurement, pricing and operational maturity, contributing to a ~110 bp YoY improvement in center?of?plate gross margin and overall margin tailwinds.

Chefs’ Warehouse Stock Performance

Shares of NASDAQ CHEF traded up $0.54 during mid-day trading on Thursday, reaching $76.24. 213,271 shares of the company’s stock were exchanged, compared to its average volume of 464,615. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 46.21 and a beta of 1.34. Chefs’ Warehouse has a 52 week low of $53.20 and a 52 week high of $79.41. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.05 and a quick ratio of 1.23. The firm has a 50-day moving average price of $64.02 and a two-hundred day moving average price of $62.72.

Key Stories Impacting Chefs’ Warehouse

Here are the key news stories impacting Chefs’ Warehouse this week:

• Positive Sentiment: Q1 results beat expectations — CHEF reported $0.40 EPS vs. ~$0.23 consensus and revenue of $1.06B (up ~11.4% YoY), signaling solid top?line growth and margin improvement. Chefs’ Warehouse (CHEF) Tops Q1 Earnings and Revenue Estimates
• Positive Sentiment: Market reaction was favorable — coverage notes shares climbed on the earnings beat and the company’s confidence on outlook. This positive sentiment likely drove intraday strength. Chefs’ Warehouse stock climbs nearly 6% on earnings beat and raised guidance
• Neutral Sentiment: FY2026 net?sales guidance reaffirmed around $4.35B–$4.45B — management kept its sales range for 2026, indicating stability in planning even as it models certain risks. That supports predictability but is not a clear upgrade. Chefs’ Warehouse keeps 2026 guidance at $4.35B-$4.45B net sales while modeling Middle East volatility
• Neutral Sentiment: Investor materials and outreach — the company posted its press release, slide deck and conference call materials and will present at the BMO Global Farm to Market Conference on May 14, offering additional opportunities for management to discuss execution and margin drivers. Q1 Slide Deck / Press Release
• Neutral Sentiment: Upcoming investor appearance — management will do a fireside chat at the BMO conference (May 14); analysts may use this to get color on supply chain, pricing and international exposure. The Chefs’ Warehouse, Inc. to Participate in the BMO Global Farm to Market Conference
• Negative Sentiment: Geopolitical risk flagged — management is modeling Middle East volatility into its outlook, which introduces execution risk for international operations and could pressure future results if disruptions escalate. Chefs’ Warehouse keeps 2026 guidance at $4.35B-$4.45B net sales while modeling Middle East volatility

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CHEF shares. BTIG Research lifted their price objective on shares of Chefs’ Warehouse from $74.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday. Wolfe Research set a $84.00 price objective on shares of Chefs’ Warehouse in a research note on Thursday, February 12th. Morgan Stanley reiterated an “overweight” rating on shares of Chefs’ Warehouse in a research note on Thursday. Benchmark lifted their price target on shares of Chefs’ Warehouse from $84.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Zacks Research raised shares of Chefs’ Warehouse from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.50.

Insiders Place Their Bets

In other news, CEO Christopher Pappas sold 95,908 shares of Chefs’ Warehouse stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $62.53, for a total transaction of $5,997,127.24. Following the sale, the chief executive officer directly owned 2,398,522 shares in the company, valued at $149,979,580.66. The trade was a 3.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christina Polychroni sold 3,317 shares of Chefs’ Warehouse stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $65.45, for a total value of $217,097.65. Following the sale, the insider owned 30,141 shares in the company, valued at $1,972,728.45. The trade was a 9.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 139,309 shares of company stock valued at $9,060,197. 11.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chefs’ Warehouse

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new stake in Chefs’ Warehouse in the 4th quarter valued at about $31,000. Caitong International Asset Management Co. Ltd raised its stake in Chefs’ Warehouse by 515.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock valued at $31,000 after acquiring an additional 438 shares during the period. Osaic Holdings Inc. raised its stake in Chefs’ Warehouse by 30.7% in the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock valued at $51,000 after acquiring an additional 188 shares during the period. Vestcor Inc bought a new stake in Chefs’ Warehouse in the 3rd quarter valued at about $57,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Chefs’ Warehouse in the 4th quarter valued at about $63,000. 91.55% of the stock is currently owned by institutional investors.

Chefs’ Warehouse Company Profile

Chefs’ Warehouse, Inc is a specialty food distributor that supplies a broad range of high?end ingredients and culinary products to professional chefs, restaurants, hotels, and other foodservice operators. Headquartered in Maspeth, New York, the company sources its portfolio from local artisans, boutique producers and leading global suppliers. Its core offerings include fresh and frozen proteins, specialty cuts of meat and seafood, handcrafted cheeses and charcuterie, seasonal produce, value?added preparations, pantry staples and premium desserts and beverages.

The company operates a network of distribution centers strategically located in major metropolitan markets across North America.