HF Foods Q2 revenue up 2.8% to $323.8M; acquires Searay Foods

HF Foods Group Inc.

Net revenue $323.8M (+2.8% YoY); GAAP net income $2.6M vs $0.5M prior; adjusted EPS $0.12.
Gross margin 17.0% down from 17.5%; adjusted EBITDA $13.6M (-2.0%); tariffs and IEEPA refunds affected.
Announced acquisition of Searay Foods, Canadian importer/distributor of ethnic seafood; first expansion outside US, six proprietary brands.
Sixth consecutive quarter of YoY revenue growth; management sees M&A as core growth pillar.

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