CHEF Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Thu, April 30, 2026 astatine 10:33 AM CDT 32 min read

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DATE

Wednesday, April 29, 2026 astatine 8:30 a.m. ET

CALL PARTICIPANTS

• Founder, Chairman, and Chief Executive Officer — Christopher Pappas

• Chief Financial Officer — James Leddy

Full Conference Call Transcript

Chris Pappas, Founder, Chairman, and CEO; and Jim Leddy, our CFO. By now, you should person entree to our archetypal 4th 2026 net property release. It tin besides beryllium recovered astatine www.chefswarehouse.com nether the Investor Relations section. Throughout this league call, we volition beryllium presenting non-GAAP fiscal measures, including, among others, humanities and estimated EBITDA and adjusted EBITDA arsenic good arsenic humanities adjusted nett income, adjusted net per share, adjusted operating expenses, adjusted operating expenses arsenic a percent of nett income and arsenic a percent of gross profit, nett debt, nett indebtedness leverage and escaped currency flow.

These measures are not calculated successful accordance with GAAP and whitethorn beryllium calculated otherwise successful likewise titled non-GAAP fiscal measures utilized by different companies. Quantitative reconciliations of our non-GAAP fiscal measures to their astir straight comparable GAAP fiscal measures look successful today's property merchandise and archetypal 4th 2026 net presentation. Before we statesman our ceremonial remarks, I request to punctual everyone that portion of our treatment contiguous volition see forward-looking statements, including statements regarding our estimated fiscal performance. Such forward-looking statements are not guarantees of aboriginal performance, and therefore, you should not enactment undue reliance connected them. These statements are taxable to galore risks and uncertainties that could origin existent results to disagree materially from what we expect.

Some of these risks are mentioned successful today's release. Others are discussed successful our yearly study connected Form 10-K and quarterly reports connected Form 10-Q, which are disposable connected the SEC website. Today, we are going to supply a concern update and spell implicit our archetypal 4th results successful detail. For a information of our treatment this morning, we volition notation to a fewer slides posted connected the Chefs' Warehouse website nether the Investor Relations conception titled First Quarter 2026 Earnings Presentation. Please enactment that these slides are disclosed astatine this clip for illustration purposes only. Then we volition unfastened up the telephone for questions. With that, I volition crook the telephone implicit to Chris Pappas. Chris?

Christopher Pappas: Thank you, Alex, and convey you each for joining our archetypal 4th 2026 net call. First 4th 2026 concern enactment displayed emblematic seasonal cadence arsenic gross trends coming retired of January accrued steadily into February and March. Despite immoderate volatility successful concern owed to utmost upwind events and the commencement of the struggle successful the Middle East aboriginal successful the 4th -- our team's exceptional execution and the spot of our North American concern allowed america to proceed to turn marketplace share, delivering beardown year-over-year maturation successful volume, merchandise penetration, unsocial lawsuit growth, gross maturation and profitability growth. Momentum continued into April, and we presently expect double-digit apical enactment maturation to commencement the 2nd quarter.