HF Foods posts Q2 net income of $0.2M vs loss; revenue up 3.4% to $302.3M

HF Foods Group Inc.

2024-Q2 EPS reported -$0.01 revenue$597,996,000

Net revenue $302.3M, up 3.4% YoY; gross profit margin 17.4% vs 17.3%.
Net income $0.2M vs net loss $1.6M in prior year; adjusted EBITDA $10.6M, up 26.4%.
SEC settlement paid $3.9M; lease guarantee reversal of $5.3M aided net income.
CEO cites operational transformation, ERP rollout, Northern California cross dock restored.
Cash $14.0M, $29.9M available on $100M credit line; operating cash flow $0.0M.

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