HF Foods Group reported net revenue of $312.0 million in Q1 2026, up 4.5% year-over-year. GAAP net income swung to a profit of $1.4 million versus a $1.5 million loss last year, while adjusted EBITDA rose 3.8% to $10.1 million and adjusted net income dipped 3.6% to $3.4 million.

Revenue growth was driven by increased volume and pricing in the Seafood segment, followed by Commodity volume gains. Gross profit margin narrowed to 16.2% from 17.1% due to higher sales of lower-margin products and rising landed costs, while distribution expenses fell 0.6% to $49.5 million.

The acquisition of a Chicago warehouse and near completion of a Charlotte facility are expected to boost cross-selling opportunities in high-growth Southeast and Midwest markets. The company also finished full ERP implementation and consolidated its sales call center to enhance operational efficiency.

Operating cash flow climbed to $15.3 million, up from $6.9 million a year ago, driven by higher non-cash expense add-backs and increased accounts payable. As of March 31, 2026, cash stood at $11.1 million with $5.0 million in unpresented checks and $55.2 million available under a $125.0 million credit line.