The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) stock fell on Wednesday after the company reported fourth-quarter fiscal 2025 results.

The specialty food distributor posted fourth-quarter adjusted earnings per share of 68 cents, surpassing the analyst estimate of 63 cents. Quarterly sales reached $1.143 billion (up 10.5%), beating the $1.098 billion consensus estimate.

Organic sales increased 9.7% versus the prior year quarter. 

Gross profit margin declined by approximately 8 basis points to 24.2%. Adjusted EBITDA for the fourth quarter of 2025 totaled $80.3 million, compared with $68.2 million in the fourth quarter of 2024.

Operating income for the fourth quarter of 2025 was $43.2 million, down from $46.5 million in the prior-year period. This decrease was primarily attributable to a $10.5 million increase in other operating expenses.

As of December 26, 2025, the company reported $120.98 million in cash and cash equivalents.

Outlook

The company affirmed its fiscal year 2026 sales guidance of $4.350 billion to $4.450 billion.

The company expects gross profit to range between $1.053 billion and $1.076 billion, and adjusted EBITDA to be between $276 million and $286 million.

Management Commentary

“Business activity and demand remained consistently strong through the fourth quarter amidst a healthy environment for our core upscale-casual to higher-end dining customer base. Our teams, across domestic and international markets, provided excellent product and service amidst a busy holiday season,” said Christopher Pappas, Chairman and CEO.

Pappas added, “During the quarter, we continued growing market share, closing the year with strong year-over-year organic volume growth, unique item placements and new customer acquisition. I would like to thank the entire Chefs’ Warehouse team for their dedication and commitment in delivering a strong 2025 for our team members, our customers and supplier partners, and our shareholders.”

CHEF Price Action: The Chefs’ Warehouse shares were down 5.91% at $61.50 during premarket trading on Wednesday, according to Benzinga Pro data.

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