HFFG

EX-99.1

2 exhibit991earningspressrel.htm

EX-99.1

Document

Exhibit 99.1

HF Foods Reports Third Quarter 2026 Financial Results

Net Revenue increased 4.1% to $319.6 million

GAAP Net loss increased 385.9% to $4.2 million

Adjusted Net Income decreased 52.1% to $2.1 million

Adjusted EBITDA decreased 6.3% to $11.0 million

Las Vegas, NV – November 9, 2026 – HF Foods Group Inc. (NASDAQ: HFFG) (“HF Foods” or the “Company”), a leading distributor of international foodservice solutions to Asian restaurants and other businesses across the United States and Canada, today announced results for the third quarter ended September 30, 2026.

Third Quarter 2026 Financial Results

(In thousands, except per share amounts) Three Months Ended September 30, 2026Change over Prior YearNine Months Ended September 30, 2026Change over Prior Year

GAAP Measures

Net revenue$319,575 $12,597 $955,358 $35,099

Gross profit$53,391 $2,982 $158,965 $2,465

Net loss$(4,247)$(3,373)$(270)$1,624

Loss per share$(0.08)$(0.06)$(0.01)$0.02

Non-GAAP Measures

Adjusted EBITDA(1) $11,008 $(740)$34,723 $(643)

Adjusted net income(2) $2,083 $(2,262)$11,883 $(2,321)

Adjusted diluted earnings per share(2) $0.04 $(0.04)$0.22 $(0.05)

(1)    Adjusted EBITDA is defined as net income (loss) before interest expense, interest income, income taxes and depreciation and amortization, further adjusted to exclude certain unusual, non-cash, or non-recurring expenses.

(2)    Adjusted net income and adjusted earnings per share are based on net income attributable to HF Foods Group Inc.

Management Commentary

“Our third quarter results reflect solid top line growth, marking our seventh consecutive quarter of year-over-year net revenue growth, even as industry-wide fuel costs continued to weigh on operating expenses,” said Felix Lin, President and Chief Executive Officer of HF Foods. “We are actively managing through this pressure by taking actions to mitigate the impact, and the efficiency programs built through our transformation continue to help offset higher costs. We also completed our acquisition of Searay Foods during the quarter, our first expansion outside the United States, and integration is progressing well. With the foundation of our transformation largely built, we are focused on route and warehouse efficiency, purchasing discipline and cross-selling across the Southeast and Midwest. We are confident in our ability to turn near-term cost pressure into long-term value for our shareholders as we strengthen our position as the leading nationwide Asian specialty food distributor.”

Third Quarter 2026 Results

Net revenue was $319.6 million for the third quarter of 2026 compared to $307.0 million in the prior year period, an increase of $12.6 million, or 4.1%. The increase was primarily attributable to volume growth in Seafood and pricing improvement in Produce and Commodity, partially offset by price decreases in Meat & Poultry. Net revenue also included $4.2 million from Searay Foods following the completion of its acquisition effective August 31, 2026, reflecting 1 month of contribution during the quarter.

Gross profit was $53.4 million for the quarter, compared to $50.4 million in the prior year period, an increase of $3.0 million, or 5.9%. The increase was primarily driven by volume growth in Seafood, incremental margin gained from Searay and IEEPA tariff refunds received during the quarter. Gross profit margin increased to 16.7% compared to 16.4% in the prior year period.

Distribution, selling and administrative expenses increased by $5.9 million, or 11.9%, compared to the prior year period, primarily driven by professional services related to the non-recurring events including amendment and increase of our revolving credit facility, the refinancing of our property portfolio, acquisition of Searay Foods and other legal expenses and an increase in auto & truck expenses reflecting elevated fuel costs and truck lease expense, partially offset by a decrease of repair & maintenance costs due to the investments into upgrading our fleet. Distribution, selling and administrative expenses as a percentage of net revenue increased to 17.3% compared to 16.1% in the prior year period.

Net loss was $4.2 million compared to a net loss of $0.9 million in the prior year period. The increase in net loss was primarily driven by a $2.9 million decrease in income from operations, reflecting margin growth of $3.0 million offset by the $5.9 million increase in distribution, selling and administrative expenses. Other expense (income) reduced by $0.5 million driven by a positive change in fair value of interest rate swap contracts of $0.9 million partially offset by higher interest expense. Income tax benefit reduced by $0.9 million compared to same period last year.

Adjusted EBITDA decreased 6.3% to $11.0 million compared to $11.7 million in the prior year period, which was mainly due to the increase in net loss and various other items noted in t

hffg-20260810

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 10, 2026

HF FOODS GROUP INC.

(Exact name of registrant as specified in its charter)

Delaware

State or other Jurisdiction of

incorporation )

001-38180

(Commission

File No.)

81-2717873

(IRS Employer

Identification No)

6325 South Rainbow Boulevard, Suite 420

Las Vegas, Nevada

(Address of principal executive offices)

89118

(Zip Code)

Registrant’s telephone number, including area code: (888)-905-0998

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading SymbolName of each exchange on which registered

Common Stock, $0.0001 par valueHFFG Nasdaq Capital Market

Preferred Share Purchase RightsN/A Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company     ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02.    Results of Operations and Financial Condition.

On August 10, 2026, HF Foods Group Inc. (the “Company”) announced its financial results for the year and quarter ended June 30, 2026 in a press release. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K (this “Current Report”).

In accordance with General Instruction B.2 of Form 8-K, the information furnished under Item 2.02 of this Current Report (including Exhibit 99.1) is deemed to be “furnished” and shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall such information be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01.    Financial Statements and Exhibits

(d) Exhibits

Exhibit No.

Description of Exhibits

99.1

Company press release dated August 10, 2026

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

HF FOODS GROUP INC.

Date: August 10, 2026 /s/ Paul McGarry

Paul McGarry

Chief Financial Officer

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