Company: HFFG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001628280-25-039583
Chunk: 31

Company: HF Foods Group Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 1
Chunk 31
---
235 275 Less: net (loss) income attributable to noncontrolling interests(706)218 (924)Net income and comprehensive income attributable to HF Foods Group Inc.$1,216 $17 $1,199 

22

The following table sets forth the components of our consolidated results of operations expressed as a percentage of net revenue for the periods indicated:

Three Months Ended June 30,20252024Net revenue100.0 %100.0 %Cost of revenue82.5 %82.6 %Gross profit17.5 %17.4 %Distribution, selling and administrative expenses16.2 %16.5 %Income from operations1.3 %0.9 %Interest expense0.9 %1.0 %Other expense (income), net(0.1)%1.1 %Change in fair value of interest rate swap contracts0.2 %(0.1)%Lease guarantee income— %(1.8)%Income before income taxes0.3 %0.7 %Income tax expense0.2 %0.5 %Net income and comprehensive income0.1 %0.2 %Less: net (loss) income attributable to noncontrolling interests(0.2)%0.1 %Net income and comprehensive income attributable to HF Foods Group Inc.0.3 %0.1 %

Net Revenue

Net revenue for the three months ended June 30, 2025 increased by $12.5 million, or 4.1%, compared to the same period in 2024. The increase was primarily attributable to volume increases and improved pricing in Meat & Poultry and Seafood, offset by a slight decrease in volume within other categories. 

Gross Profit

Gross profit was $55.1 million for three months ended June 30, 2025 compared to $52.5 million in the same period in 2024, an increase of $2.7 million, or 5.1%. The increase was primarily attributable to an increase in volume and improved pricing in Meat & Poultry and Seafood during the quarter. Gross profit margin for the three months ended June 30, 2025 of 17.5% remained consistent compared to 17.4% in the same period in 2024. 

Distribution, Selling and Administrative Expenses

Distribution, selling and administrative expenses increased by $1.2 million,