Revenue Growth
Net revenue increased 2.2% year over year to $1.23 billion (from $1.20 billion), driven by volume growth and pricing improvement in seafood and meat & poultry and volume growth in commodity.
Adjusted EBITDA and Adjusted Net Income Expansion
Adjusted EBITDA rose 6.9% to $45.0 million (from $42.0 million). Adjusted net income increased $2.9 million, or 20.9%, to $16.9 million (from $14.0 million).
Improved EPS Metrics
Adjusted diluted EPS increased to $0.32 from $0.26. GAAP loss per share improved to a loss of $0.73 from a loss of $0.92.
Gross Profit Improvement (Absolute)
Gross profit increased 1.2% to $207.6 million (from $205.2 million), reflecting higher net revenue partially offset by increased costs.
Major Operational and IT Milestones Completed
Completed full ERP implementation across all distribution centers and fully remediated IT general control deficiencies as of year-end 2025 — a significant operational and compliance milestone expected to drive purchasing and operational efficiencies over time.
Strategic Facility Investments and M&A Progress
Phase one of the Atlanta DC became operational (Jan 2026) with planned phase two to double cold storage from 10,000 to 20,000 sq ft; Charlotte renovation largely complete and expected operational in 2026; acquisition of Chicago warehouse (Sep 2025) to reduce operating expense and support cross-selling. Company reiterates M&A as a core growth pillar and cites a $50 billion addressable market.