Filing Flows › Chefs' Warehouse (CHEF) › Q3 2026 › vs Q3 2025
Chefs' Warehouse (CHEF) Q3 2026 vs Q3 2025 (year over year)
Chefs' Warehouse's revenue rose $114M (+11%) from $1.0B in Q3 2025 to $1.1B in Q3 2026. The biggest changes: Total Specialty +$65.2M (+11%); Produce +$26.8M (+21%); Dry Goods +$18.7M (+11%). Gross margin 25.0% against 24.2% (+0.8 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 25.0% | 24.2% | +0.8 pts |
| Operating margin | 4.5% | 3.8% | +0.7 pts |
| Net margin | 2.6% | 1.9% | +0.7 pts |
| Free cash flow margin | 3.2% | -1.9% | +5.1 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Center-of-the-Plate | $447M | $394M | $53.2M | +14% |
| Pastry | $145M | $134M | $10.9M | +8% |
| Dairy and Eggs | $67.8M | $73.6M | −$5.8M | -8% |
| Kitchen Supplies | $26.4M | $19.4M | $6.9M | +36% |
| Total Specialty | $686M | $621M | $65.2M | +11% |
| Dry Goods | $182M | $163M | $18.7M | +11% |
| Produce | $152M | $125M | $26.8M | +21% |
| Cheese and Charcuterie | $78.6M | $76.2M | $2.5M | +3% |
| Oils and Vinegars | $36.7M | $35.8M | $869K | +2% |
| Revenue | $1.1B | $1.0B | $114M | +11% |
| Gross profit | $284M | $247M | $37.1M | +15% |
| Cost of revenue | $851M | $774M | $76.9M | +10% |
| Operating profit | $51.5M | $38.9M | $12.6M | +32% |
| Operating expenses | $233M | $208M | $24.6M | +12% |
| Pre-tax earnings | $42.5M | $28.4M | $14.1M | +50% |
| Other expense, net | $9.0M | $10.5M | −$1.5M | -15% |
| Net earnings | $29.6M | $19.1M | $10.5M | +55% |
| Income tax | $12.9M | $9.3M | $3.6M | +39% |
| Depreciation & amortization | $15.7M | $13.7M | $2.0M | +15% |
| Share-based compensation | $9.3M | $4.9M | $4.4M | +89% |
| Working capital & other | $10.2M | $46.5M | −$36.4M | -78% |
| Operating cash flow | $44.5M | −$8.7M | $53.2M | — |
| Free cash flow (OCF − capex) | $36.0M | −$19.7M | $55.7M | — |
| Capital expenditures | $8.5M | $11.0M | −$2.5M | -23% |
Questions
How much did Chefs' Warehouse's revenue grow year over year in Q3 2026?
Chefs' Warehouse's revenue rose $114M (+11%) from $1.0B in Q3 2025 to $1.1B in Q3 2026.
What drove Chefs' Warehouse's revenue change in Q3 2026?
Total Specialty +$65.2M (+11%); Produce +$26.8M (+21%); Dry Goods +$18.7M (+11%).