Company: HFFG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001628280-25-039583
Chunk: 48

Company: HF Foods Group Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 2
Chunk 48
---
2,625 1,494 Interest expense2,817 3,119 (302)Other (income) expense, net(414)3,466 (3,880)Change in fair value of interest rate swap contracts685 (361)1,046Lease guarantee income— (5,433)5,433Income before income taxes1,031 1,834 (803)Income tax expense521 1,599 (1,078)Net income and comprehensive income510 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