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HF Foods Group Inc (HFFG)
NASDAQ:HFFG
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Earnings Data
Report Date
Mar 13, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.06Last Year’s EPS
$0.05Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 12, 2024
|% Change Since: -0.29%
|Next Earnings Date:Mar 13, 2025
Earnings Call Sentiment|Neutral
Despite some operational and net revenue growth, the earnings call highlighted significant challenges, including a decline in gross profit, operating income, and an overall net loss. The company is undergoing a transformative phase with strategic investments aimed at future growth, but current financial metrics suggest ongoing challenges.Company Guidance
During the HF Foods Group's Third Quarter 2024 Earnings Call, significant operational and financial metrics were discussed, highlighting the company's transformation efforts and financial performance. Xi Lin, the Interim CEO, noted that net revenue grew by 6% to $298.4 million, driven largely by inflation and higher pricing in seafood and meat categories, despite a decrease in sales volume for certain products. The company launched a centralized purchasing program, contributing to a $1.3 million increase in seafood gross profit from Q3 2023 to Q3 2024, though overall gross profit slightly declined by 1.5% to $50.2 million. The gross profit margin decreased from 18.1% to 16.8%, primarily due to lower margins in meat and poultry. Distribution, selling, and administrative expenses rose to $49.7 million, but as a percentage of net sales, they decreased to 16.6% from 17.4% due to increased revenues. HF Foods is also investing in facility upgrades, with a new Atlanta facility anticipated to double regional capacity by mid-2026. The company reported a net loss of $3.9 million, down from a net income of $2 million in the prior year, influenced by a $5.3 million noncash expense related to interest rate swap contracts. Adjusted EBITDA decreased to $8.3 million. The company is focused on strategic investments in supply chain enhancements and digital capabilities to support long-term growth and margin improvement.Net Revenue Growth
Net revenue for the third quarter increased 6% to $298.4 million from $281.5 million in the prior year quarter, primarily driven by inflation and higher pricing.
Centralized Purchasing Program Expansion
The centralized purchasing program has been rolled out across the entire seafood category and is expanding to other categories like cooking oil, which is expected to be fully operational by 2025.
Community Support Initiatives
HF Foods actively participated in relief efforts in North Carolina following Hurricane Helene, showcasing commitment to community support.
Operational Transformation Progress
Significant strides in operational transformation with investments in facility upgrades, ERP system implementation, and e-commerce expansion expected to drive future growth.
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HFFG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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HFFG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $3.47 | $3.42 | -1.44% |
| Aug 06, 2024 | $2.99 | $3.09 | +3.34% |
| May 08, 2024 | $2.90 | $2.93 | +1.03% |
| Mar 14, 2024 | $3.40 | $3.36 | -1.18% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does HF Foods Group Inc (HFFG) report earnings?
HF Foods Group Inc (HFFG) is schdueled to report earning on Mar 13, 2025, TBA Not Confirmed.
What is HF Foods Group Inc (HFFG) earnings time?
HF Foods Group Inc (HFFG) earnings time is at Mar 13, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HFFG EPS forecast?
HFFG EPS forecast for the fiscal quarter 2024 (Q4) is -$0.06.
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