We model 4Q:25 sales of $305.7 million, flat versus the prior year period, and adjusted EPS of $0.10 compared to $0.11 in 4Q:24. HF Foods continues executing its transformation initiatives while operating in a challenging macro and trade environment. For 2025, we model sales of $1.226 billion, up 2% versus the prior year period, and adjusted EPS of $0.37 compared to $0.26 in 2024. We believe strategic inventory management, pricing actions, and supplier diversification helped maintain revenue growth and improve operating performance during the year.
We maintain our 2026 and 2027 estimates for sales of $1.250 billion and $1.300 billion and adjusted EPS of $0.52 and $0.70, respectively. Investments in infrastructure, systems integration, and distribution capacity should support improved execution and operating leverage over time, in our view.
The new Powder Springs, Georgia, distribution facility expands HF Foods' capacity in the Southeast and supports additional cross-selling opportunities while improving service levels and operational efficiency.
Paul McGarry's appointment as chief financial officer strengthens financial leadership as the company continues executing its strategic initiatives under CEO Felix Lin. The balance sheet and liquidity remain solid, with $12.3 million in cash, access to $49.8 million under the credit facility, and a new $100 million ATM program that enhances flexibility for working capital, capital projects, and acquisitions.
We maintain our $7 price target on HFFG shares, based on 10x our 2027 EPS estimate of $0.70. Our moderate risk rating is supported by transformation progress, improved purchasing scale, and long-term earnings power.
12 Mar 2026
Transformation Progress And Distribution Investments Support Improving Execution And Long-Term Earnings Power, In Our View; Maintain $7 Price Target
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Transformation Progress And Distribution Investments Support Improving Execution And Long-Term Earnings Power, In Our View; Maintain $7 Price Target
We model 4Q:25 sales of $305.7 million, flat versus the prior year period, and adjusted EPS of $0.10 compared to $0.11 in 4Q:24. HF Foods continues executing its transformation initiatives while operating in a challenging macro and trade environment. For 2025, we model sales of $1.226 billion, up 2% versus the prior year period, and adjusted EPS of $0.37 compared to $0.26 in 2024. We believe strategic inventory management, pricing actions, and supplier diversification helped maintain revenue growth and improve operating performance during the year.
We maintain our 2026 and 2027 estimates for sales of $1.250 billion and $1.300 billion and adjusted EPS of $0.52 and $0.70, respectively. Investments in infrastructure, systems integration, and distribution capacity should support improved execution and operating leverage over time, in our view.
The new Powder Springs, Georgia, distribution facility expands HF Foods' capacity in the Southeast and supports additional cross-selling opportunities while improving service levels and operational efficiency.
Paul McGarry's appointment as chief financial officer strengthens financial leadership as the company continues executing its strategic initiatives under CEO Felix Lin. The balance sheet and liquidity remain solid, with $12.3 million in cash, access to $49.8 million under the credit facility, and a new $100 million ATM program that enhances flexibility for working capital, capital projects, and acquisitions.
We maintain our $7 price target on HFFG shares, based on 10x our 2027 EPS estimate of $0.70. Our moderate risk rating is supported by transformation progress, improved purchasing scale, and long-term earnings power.