HF Foods reports Q4 2024 net loss of $43.9M on goodwill impairment; revenue up 8.7%

HF Foods Group Inc.

Q4 net revenue $305.3M, +8.7% YoY; FY2024 revenue $1,201.7M, +4.6% YoY.
Q4 net loss $43.9M (vs net income $2.7M a year ago) due to $46.3M goodwill impairment.
Q4 adjusted EBITDA $14.5M, +39.4% YoY; FY2024 adjusted EBITDA $42.0M, +21.6% YoY.
Gross profit margin fell to 17.1% Q4 and FY from 18.6% and 17.8% respectively.
On Feb 18, 2025 amended credit agreement, increasing revolver to $125M from $100M.

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