HF Foods Group Inc. reported its financial results for the third quarter ended September 30, 2024, on November 12, 2024. The company announced net revenue of $298.4 million, marking a 6.0% increase compared to $281.5 million in the prior year period.
Despite the revenue growth, gross profit for the quarter decreased by 0.2% to $50.4 million from $50.5 million in Q3 2023. This resulted in a lower gross profit margin of 16.9%, down from 17.9% in the previous year.
The company recorded a net loss of $2.2 million for the quarter, a decline from a net income of $1.0 million in the prior year period. However, Adjusted EBITDA saw an increase of $0.7 million, reaching $10.1 million, indicating some underlying operational improvements despite the GAAP net loss.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.