The Chefs' Warehouse, Inc. announced its financial results for the first quarter ended March 28, 2025, reporting an 8.7% increase in net sales to $950.7 million, up from $874.5 million in the first quarter of 2024. Organic case count in the specialty category grew by approximately 5.7%, with unique customers increasing by 4.5% and unique item placements by 7.7%.
Gross profit for the quarter rose 7.9% to $226.0 million, compared to $209.4 million in the prior year. While overall gross profit margins decreased by 18 basis points to 23.8%, specialty category margins increased by 6 basis points. Operating income significantly improved to $22.7 million, up from $16.0 million in Q1 2024, representing 2.4% of net sales.
Net income for Q1 2025 was $10.3 million, or $0.25 per diluted share, a substantial increase from $1.9 million, or $0.05 per diluted share, in Q1 2024. Adjusted EBITDA for the quarter was $47.5 million, compared to $40.2 million in the prior year. The company reiterated its fiscal year 2025 guidance, projecting net sales between $3.94 billion and $4.04 billion, gross profit between $951 million and $976 million, and adjusted EBITDA between $233 million and $246 million.
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