Wing Yip Food 2024 Q4 Earnings Misses Targets with Net Income Plummeting 94%

Wing Yip Food (WYHG) reported its fiscal 2024 Q4 earnings on Apr 30th, 2025. The results fell short of expectations, as the company's earnings per share (EPS) and net income saw significant declines compared to the previous year. Despite the rise in revenue, Wing Yip Food's fiscal outlook remains cautious with earnings projections in line with market estimates. The company maintains a strategic focus on improving operational efficiency and expanding its product offerings to drive future growth.

Revenue

Wing Yip Food's total revenue increased by 9.7% to $38.95 million in 2024 Q4, rising from $35.50 million in 2023 Q4.

Earnings/Net Income

Wing Yip Food's EPS declined 94.3% to $0.00 in 2024 Q4 from $0.08 in 2023 Q4. Net income fell to $227,353 in 2024 Q4, marking a 94.0% decrease from $3.80 million in 2023 Q4. The EPS performance indicates significant challenges.

Price Action

The stock price of Wing Yip Food has tumbled 8.65% during the latest trading day, has dropped 5.89% during the most recent full trading week, and has plummeted 28.77% month-to-date.

Post Earnings Price Action Review

The impact of earnings report metrics on Wing Yip Food's stock price can be analyzed by examining historical performance following earnings reports. Revenue has generally trended upward over the years, contributing to market cap growth from $77.5 million to $88.5 million. This positive revenue trend has likely influenced stock price movements, although market conditions and investor sentiment play significant roles. Net income has also seen an upward trend, boosting EPS from $0.29 to $0.53 and further to $1.62, which typically supports stock price increases as investors favor higher earnings. EPS variation has impacted stock price, with peaks and lows reflecting earnings fluctuations. Overall, revenue, net income, and EPS show a positive correlation with Wing Yip Food's stock price, though external factors also affect market performance.

CEO Commentary

Wing Yip Food Holdings Group’s CEO highlighted the company’s strong growth momentum, stating, "Our revenue has experienced a significant increase driven by robust demand for our meat products." The CEO acknowledged challenges in supply chain logistics but emphasized that strategic investments in processing facilities are a priority to enhance operational efficiency. He noted, "Our focus remains on expanding our market presence and innovating our product offerings to meet evolving consumer preferences." The overall tone of the commentary was optimistic, as the CEO expressed confidence in the company’s ability to navigate current market challenges and capitalize on growth opportunities.

Guidance

For the upcoming fiscal year, Wing Yip Food anticipates revenue of approximately $38.95 million and an EPS of $0.0045. The company expects to maintain a strategic focus on enhancing production capabilities while managing costs efficiently. Additionally, leadership indicated their commitment to exploring new market segments and product innovations to drive future growth, aiming for sustained profitability amidst a competitive landscape.

Additional News

Wing Yip Food Holdings Group Limited recently announced that Deutsche Bank has been appointed as the depositary bank for its American Depositary Receipt program, enhancing its presence in the U.S. market. Additionally, Wing Yip Food Holdings successfully closed its initial public offering of 2,050,000 American Depositary Shares at $4.00 per ADS, raising $8.20 million in gross proceeds. The company plans to utilize the funds for upgrading production lines, marketing, research and development, and working capital. These developments reflect Wing Yip's strategic focus on operational expansion and market development to strengthen its position in the meat processing industry.