HF Foods Group Inc (HFFG) Q3 2024 Earnings Call Highlights: Strategic Initiatives Amidst ... [Yahoo! Finance]
HF Foods Group Inc. (HFFG)
Company Research
Source: Yahoo! Finance
HF Foods Group Inc ( NASDAQ:HFFG ) reported a 6% increase in net revenue for the third quarter, driven by inflation and higher pricing in seafood and meat categories. The centralized purchasing program for seafood has been successfully rolled out, leading to a $1.3 million increase in seafood gross profit. The company is expanding its centralized purchasing program to include cooking oil, which is expected to enhance supply chain resilience and improve gross margins. HF Foods Group Inc ( NASDAQ:HFFG ) is making strategic facility upgrades, including a new Atlanta facility and a transition of Las Vegas operations to a full distribution center, which will optimize distribution networks and support long-term growth. The company is launching an e-commerce business in early 2025, aiming to cater to younger generation business owners and expand its market reach, potentially boosting margins and operational efficiency. Gross profit decreased by 1.5% to $50.2 million, with a declin
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HFFG
News
- HF Foods Group Third Quarter 2024 Earnings: US$0.075 loss per share (vs US$0.035 profit in 3Q 2023) [Yahoo! Finance]Yahoo! Finance
- HF Foods Reports Third Quarter 2024 Financial ResultsGlobeNewswire
- HF Foods names Felix Lin as interim CEO [Seeking Alpha]Seeking Alpha
- HF Foods Announces CEO TransitionGlobeNewswire
- Is HF Foods Group Inc. (NASDAQ:HFFG) Potentially Undervalued? [Yahoo! Finance]Yahoo! Finance
HFFG
Earnings
- 11/12/24 - Miss
HFFG
Sec Filings
- 11/14/24 - Form 8-K/A
- 11/12/24 - Form 10-Q
- 11/12/24 - Form 8-K
- HFFG's page on the SEC website