Chick-fil-A CEO Rules Out IPO, Citing Family Ownership and Long-Term Growth Focus

Chick-fil-A CEO Andrew Cathy said the chicken chain will remain family-owned and ruled out an initial public offering or any outside investment, CNBC reported on October 5, 2026. The company reported $10.3 billion in revenue for 2025, up 14%, while net income rose 1% to $1.05 billion. System sales reached $23.92 billion across roughly 3,000 units, ranking third among U.S. restaurant brands behind McDonald's and Starbucks. Cathy said the private structure allows long-term planning and shields the chain from sector turbulence. Jersey Mike's shares have fallen nearly 28% since its July listing. Chick-fil-A opened 179 restaurants last year and expanded into Canada, Singapore and the United Kingdom. Cathy said the chain will not adopt AI voice ordering in drive-throughs, prioritizing human interaction. Growth efforts include internal incubator Red Wagon Ventures, whose ventures include Daybright cafes and Acrew Home Professionals.