Recent Updates — CHEF

The Chefs’ Warehouse reported third-quarter fiscal 2026 results with net sales increasing 11.2% to $1.14 billion and GAAP net income rising to $29.6 million, or $0.67 per diluted share, compared to $19.1 million in the prior-year period. Adjusted EBITDA grew 26.3% to $82.2 million. The company raised its full-year fiscal 2026 net sales guidance to a range of $4.56 billion to $4.61 billion and adjusted EBITDA guidance to between $317 million and $321 million. The Chefs’ Warehouse is a premier distributor of specialty food products serving chefs in the United States, the Middle East, and Canada.

Chefs' Warehouse entered into a new senior secured term loan facility with an aggregate principal amount of $675 million, maturing on October 15, 2033. The company borrowed the full amount concurrently with the agreement to refinance its existing $244.7 million term loan and redeem outstanding convertible notes. Approximately $287.2 million in aggregate principal of 2.375% Convertible Senior Notes due 2028 were converted into approximately 2.67 million shares of common stock, with the company paying roughly $437.1 million in cash to settle conversion obligations. The remaining unconverted notes totaling approximately $341,000 were redeemed at par plus accrued interest. The filing also details a ninth amendment to its asset-based revolving credit facility, which increases the letter of credit sublimit and adjusts certain covenants. Chefs' Warehouse operates as a distributor of foodservice products.

The Chefs’ Warehouse reported second quarter 2026 financial results ending June 26, 2026. Net sales increased 12.9% to $1.17 billion from $1.03 billion in the prior year period. GAAP net income rose to $33.8 million, or $0.76 per diluted share, compared to $21.2 million, or $0.49 per diluted share, previously. Adjusted EBITDA reached $88.1 million against $65.4 million in the prior year quarter. The company provided full-year 2026 guidance projecting net sales between $4.50 billion and $4.60 billion, gross profit between $1.102 billion and $1.125 billion, and adjusted EBITDA between $305 million and $315 million. The Chefs’ Warehouse operates as a premier distributor of specialty food products in the United States, the Middle East, and Canada.