What drove HFFG's EPS growth in 2024?

HF Foods Group Inc. (HFFG) experienced a significant decline in EPS, with a value of -$0.92 for the year 2024, which raises questions about the factors contributing to this negative trend. Given the absence of positive information related to EPS improvement in the search results, it can be inferred that the company's EPS was not driven by any significant growth initiatives in 2024. |code|Ticker|Name|Date|Diluted EPS YoY|Diluted EPS|market_code| |---|---|---|---|---|---|---| |HFFG|HFFG.O|HF Foods|2024 Q1|90.90909090909092|-0.01|186| |HFFG|HFFG.O|HF Foods|2024 Q2|100|0|186| |HFFG|HFFG.O|HF Foods|2024 Q3|-333.33333333333337|-0.07|186| 1. **Revenue Growth**: HF Foods Group Inc. reported a total revenue of $1.2 billion for the year 2024, which represents a notable increase from the previous year. This growth in revenue can be attributed to strategic initiatives such as higher pricing in seafood and meat products, which contributed to a 6% increase in net revenue in Q3. Despite the revenue growth, the company's net income was negatively impacted, resulting in a diluted EPS of -$0.92[^1). |code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code| |---|---|---|---|---|---|---| |HFFG|HFFG.O|HF Foods|2024 Q1|0.6122067005836211|2.95654E8|186| |HFFG|HFFG.O|HF Foods|2024 Q2|3.4312652234598646|3.02342E8|186| |HFFG|HFFG.O|HF Foods|2024 Q3|6.017345702479632|2.98389E8|186| |HFFG|HFFG.O|HF Foods|2024 Q4|8.690404560068075|3.05282E8|186| 2. **Net Income**: The company's net income for the year 2024 was -$48.1 million, which is a significant loss. This negative net income, coupled with the revenue growth, suggests that the company's expenses or operational inefficiencies may have outweighed the positive impact of the revenue growth on the EPS. |code|Ticker|Name|Date|Net Income YoY|Net Income|market_code| |---|---|---|---|---|---|---| |HFFG|HFFG.O|HF Foods|2024 Q1|90.35708124892186|-559000|186| |HFFG|HFFG.O|HF Foods|2024 Q2|115.06410256410255|235000|186| |HFFG|HFFG.O|HF Foods|2024 Q3|-294.3768996960486|-3837000|186| |HFFG|HFFG.O|HF Foods|2024 Q4|-1714.8842337375963|-4.3941E7|186| In conclusion, while HF Foods Group Inc. experienced revenue growth in 2024, this growth was not sufficient to positively impact the company's EPS due to significant net losses. The company's strategic initiatives, such as higher pricing and revenue growth in key product categories, may need to be further optimized to improve profitability and, consequently, the EPS.