secwatch.observer — SEC 8-K summary
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Issuer:     HF Foods Group Inc. (HFFG)
CIK:        0001680873
Form:       8-K
Filed at:   2024-03-14T23:59:59+00:00
Accession:  0001680873-24-000008
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

HF Foods Q4 revenue down 3.8% to $280.9M; adjusted EBITDA up 372.6% to $20.4M
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- Q4 net revenue $280.9M (down 3.8% YoY); gross margin expanded to 18.6% from 17.4%.
- Q4 net income of $2.7M vs. net loss of $3.5M in prior year; adjusted EBITDA $20.4M, boosted by $10.0M legal settlement.
- Full year 2023 net loss of $2.7M vs. net income $0.2M in 2022; revenue $1,148.5M (down 1.9% YoY).
- Company exited low-margin chicken processing, implemented seafood centralized purchasing, and partnered with a national transportation provider.
- Cash and equivalents $15.2M at Dec 31, 2023; $37.6M available under $100M credit line.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1680873/000168087324000008/0001680873-24-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1680873/000168087324000008/hffg-20240314.htm
  HTML page:      https://secwatch.observer/filing/0001680873-24-000008

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