8-K
filed November 9, 2023, 6:59 PM ET
ticker HFFG
CIK 0001680873
earnings
confidence high
sentiment positive
materiality 0.80
HF Foods Q3 net income $2.0M, adj. EBITDA up 151%; reveals transformation plan
HF Foods Group Inc.
2023-Q2 EPS reported
-$0.09
revenue$867,620,000
- Q3 net revenue $281.5M (-6.4% YoY); gross margin improved to 18.1% from 17.1%.
- Net income of $2.0M vs net loss of $3.9M in prior-year quarter; adjusted EBITDA $10.0M.
- Nine-month 2023 net loss $5.4M vs net income $3.7M; revenue down 1.2% to $867.6M.
- Announced operational transformation: centralized purchasing, fleet replacement (50%), new ERP, facility upgrades.
- Cash from operations improved to $20.6M in 9M 2023 from $6.9M; $14.3M cash + $48.6M credit access.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
HF Foods Group Inc. reported the third quarter ended September 30, 2023 results: revenue $281.5 million, net income Net income of $2.0 million.
- Period
- the third quarter ended September 30, 2023
- Revenue
- $281.5 million
- Net income
- Net income of $2.0 million
- Result
- reported results
Exact text from the filing
United States, reported financial results for the third quarter and nine months ended September 30, 2023. Third Quarter 2023 Financial Results • Net revenue decreased 6.4% to $281.5 million compared to $300.7 million in the prior year. • Gross profit decreased 1.1% to $50.9 million, or 18.1% gross profit margin compared to $51.5 million, or 17.1% gross profit margin
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
HF Foods Group Inc. reported the nine months ended September 30, 2023 results: revenue $867.6 million, net income Net loss of $5.4 million.
- Period
- the nine months ended September 30, 2023
- Revenue
- $867.6 million
- Net income
- Net loss of $5.4 million
- Result
- reported results
Exact text from the filing
prior year. • Adjusted EBITDA increased 151.0% to $10.0 million compared to $4.0 million in the prior year. Nine Months 2023 Financial Results • Net revenue decreased 1.2% to $867.6 million compared to $878.6 million in the prior year. • Gross profit decreased 2.0% to $151.8 million, or 17.5% gross profit margin compared to $154.8 million, or 17.6% gross profit
View on SEC.gov
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