HF Foods Q3 net loss widens on Searay acquisition
HFFG•HFFG•HFFG•HFFG•HF Foods’ third-quarter revenue rose 4.1% year over year to $319.6 million, while adjusted net income and adjusted EBITDA declined. Searay Foods contributed $4.2 million in revenue and $0.6 million in adjusted EBITDA after its acquisition.
HF Foods reported third-quarter revenue of $319.6 million, up 4.1% year over year and slightly above the $318.54 million consensus estimate. Higher seafood volumes were a primary driver of revenue and gross profit growth, while adjusted net income and adjusted EBITDA declined from a year earlier.
Searay Foods contributed $4.2 million to third-quarter revenue and $0.6 million to adjusted EBITDA following its acquisition. Higher fuel and truck lease expenses, along with professional services costs related to financing and the acquisition, weighed on profits. The company did not provide specific guidance for the current quarter or full year.
