HF Foods Group Inc. reported its unaudited financial results for the first quarter ended March 31, 2025, on May 12, 2025. The company achieved net revenue of $298.4 million, a modest increase of 0.9% compared to $295.7 million in the prior year period, despite having one fewer day of operations.
Gross profit for Q1 2025 increased by 1.1% to $51.0 million, up from $50.4 million in Q1 2024, with the gross profit margin remaining consistent at 17.1%. Distribution, selling, and administrative expenses decreased by 1.4% to $49.8 million, primarily due to a reduction in professional fees.
The company reported an increased net loss of $1.5 million for Q1 2025, compared to a net loss of $0.6 million in Q1 2024. This expanded loss was mainly attributable to an unfavorable change of approximately $3.2 million in the fair value of interest rate swap contracts.
Adjusted EBITDA, a key non-GAAP measure, increased by 12.3% to $9.8 million in Q1 2025, up from $8.7 million in Q1 2024, reflecting the positive impact of cost optimization and margin initiatives. As of March 31, 2025, the company had a cash balance of $16.1 million and access to approximately $60.0 million in additional funds under its $125.0 million revolving credit facility.
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.