Huadi International Group (HUDI) has released an update.
Huadi International Group reported a marginal decline in revenue and a notable decrease in gross profit for the first half of 2024, primarily due to increased raw material costs and competitive pricing pressures. Operating income dropped significantly compared to the previous year, although the company managed to reduce selling, general and administrative expenses and slightly increase research and development spending.
For further insights into HUDI stock, check out TipRanks’ Stock Analysis page.
