The Chefs' Warehouse, Inc. (CHEF) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.359 Greetings and welcome to the Chef's Warehouse first quarter 2026 earnings conference 00:00:05.359 -- 00:00:09.144 call. As a reminder, this conference is being recorded. 00:00:09.144 -- 00:00:13.390 I would now like to turn the conference over to your host, Alex Aldis, General Counsel, 00:00:13.390 -- 00:00:16.695 Corporate Secretary, and Chief Government Relations Officer. 00:00:16.695 -- 00:00:18.898 Please go ahead, sir. 00:00:18.898 -- 00:00:20.661 Thank you, Operator. Good morning, everyone. 00:00:20.661 -- 00:00:24.987 With me on today's call are Chris Pappas, Founder, Chairman, and CEO, and Jim Letty, 00:00:24.987 -- 00:00:29.822 our CFO. Hello. By now, you should have access to our first quarter 2026 earnings press 00:00:29.822 -- 00:00:33.966 release. It can also be found at www.chefswarehouse.com 00:00:34.189 -- 00:00:38.355 under the Investor Relations section. Throughout this conference call, we will be presenting 00:00:38.355 -- 00:00:42.902 non-GAAP financial measures, including, among others, historical and estimated EBITDA 00:00:42.902 -- 00:00:46.767 and adjusted EBITDA, as well as historical adjusted net income, adjusted earnings per 00:00:46.767 -- 00:00:51.534 share, adjusted operating expenses, adjusted operating expenses as a percentage of net 00:00:51.534 -- 00:00:53.795 sales and as a percentage of gross profit. 00:00:53.795 -- 00:00:56.659 net debt, net debt leverage, and free cash flow. 00:00:56.659 -- 00:01:01.427 These measures are not calculated in accordance with GAAP and may be calculated differently 00:01:01.427 -- 00:01:05.473 in similarly titled non-GAAP financial measures used by other companies. 00:01:05.473 -- 00:01:09.399 Quantitative reconciliations of our non-GAAP financial measures to their ...