AcquisitionsAug 10, 2026, 04:24 PM
HF Foods to Acquire Searay Foods; Q2 Net Revenue Up 2.8%
AI Summary
HF Foods Group Inc. announced its second quarter 2026 financial results, reporting a 2.8% increase in net revenue to $323.8 million and a significant 413.9% rise in GAAP net income to $2.6 million. The company also revealed a major strategic move with an agreement to acquire Searay Foods, marking its first expansion outside the United States. Despite these gains, Adjusted EBITDA saw a 2.0% decrease, and gross profit margin declined, reflecting a challenging operating environment.
Key Highlights
- Agreed to acquire Searay Foods, a Canadian importer and distributor of ethnic and specialty seafood.
- Second quarter 2026 net revenue increased 2.8% to $323.8 million.
- GAAP net income for Q2 2026 increased 413.9% to $2.6 million.
- Adjusted EBITDA for Q2 2026 decreased 2.0% to $13.6 million.
- GAAP diluted earnings per share for Q2 2026 was $0.05, up from $0.02.
- Cash provided by operating activities was $14.0 million for the six months ended June 30, 2026.
- Company had $18.1 million in cash and access to $39.7 million from its line of credit as of June 30, 2026.
Price Impact
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