Filing Flows › Chefs' Warehouse (CHEF) › Q3 2026 › vs Q2 2026
Chefs' Warehouse (CHEF) Q3 2026 vs Q2 2026 (quarter over quarter)
Chefs' Warehouse's revenue fell $33.2M (-3%) from $1.2B in Q2 2026 to $1.1B in Q3 2026. The biggest changes: Produce −$14.3M (-9%); Total Specialty −$14.2M (-2%); Dry Goods −$3.8M (-2%). Gross margin 25.0% against 25.1% (-0.0 pts).
Chefs' Warehouse, Q3 2026: revenue $1.1B (+11% year over year), operating margin 4.5%, net earnings $29.6M, operating cash flow $44.5M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 25.0% | 25.1% | -0.0 pts |
| Operating margin | 4.5% | 5.0% | -0.5 pts |
| Net margin | 2.6% | 2.9% | -0.3 pts |
| Free cash flow margin | 3.2% | 4.2% | -1.0 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Center-of-the-Plate | $447M | $458M | −$10.5M | -2% |
| Pastry | $145M | $149M | −$4.4M | -3% |
| Dairy and Eggs | $67.8M | $68.6M | −$735K | -1% |
| Kitchen Supplies | $26.4M | $24.9M | $1.5M | +6% |
| Total Specialty | $686M | $700M | −$14.2M | -2% |
| Dry Goods | $182M | $186M | −$3.8M | -2% |
| Produce | $152M | $166M | −$14.3M | -9% |
| Cheese and Charcuterie | $78.6M | $79.4M | −$772K | -1% |
| Oils and Vinegars | $36.7M | $36.8M | −$105K | -0.3% |
| Revenue | $1.1B | $1.2B | −$33.2M | -3% |
| Gross profit | $284M | $293M | −$8.6M | -3% |
| Cost of revenue | $851M | $876M | −$24.7M | -3% |
| Operating profit | $51.5M | $58.6M | −$7.1M | -12% |
| Operating expenses | $233M | $234M | −$1.4M | -0.6% |
| Pre-tax earnings | $42.5M | $49.2M | −$6.7M | -14% |
| Other expense, net | $9.0M | $9.4M | −$412K | -4% |
| Net earnings | $29.6M | $33.8M | −$4.2M | -12% |
| Income tax | $12.9M | $15.5M | −$2.6M | -17% |
| Depreciation & amortization | $15.7M | $15.4M | $351K | +2% |
| Share-based compensation | $9.3M | $7.5M | $1.8M | +23% |
| Working capital & other | $10.2M | −$1.7M | $11.9M | — |
| Operating cash flow | $44.5M | $58.4M | −$13.9M | -24% |
| Free cash flow (OCF − capex) | $36.0M | $49.2M | −$13.2M | -27% |
| Capital expenditures | $8.5M | $9.2M | −$742K | -8% |
Questions
How much did Chefs' Warehouse's revenue grow quarter over quarter in Q3 2026?
Chefs' Warehouse's revenue fell $33.2M (-3%) from $1.2B in Q2 2026 to $1.1B in Q3 2026.
What drove Chefs' Warehouse's revenue change in Q3 2026?
Produce −$14.3M (-9%); Total Specialty −$14.2M (-2%); Dry Goods −$3.8M (-2%).