HF Foods Group Inc
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
HFFG$1.45-2.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (Unaudited)
Condensed Consolidated Statements of Cash Flows
(In thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(4,161) | $(5,383) |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||
| Depreciation and amortization expense | 19,932 | 19,551 |
| Asset impairment charges | — | 1,200 |
| Provision for credit losses | (40) | 56 |
| Deferred tax benefit | (1,175) | (2,467) |
| Change in fair value of interest rate swap contracts | 959 | (2,094) |
| Stock-based compensation | 1,961 | 2,605 |
| Non-cash lease expense | 2,955 | 2,668 |
| Lease guarantee income | (5,548) | (305) |
| Other non-cash expense | 522 | 168 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (4,105) | 997 |
| Accounts receivable - related parties | 23 | (115) |
| Inventories | (13,890) | 4,349 |
| Prepaid expenses and other current assets | 133 | (14,074) |
| Other long-term assets | 734 | (2,878) |
| Accounts payable | (658) | 22,618 |
| Accounts payable - related parties | (323) | (1,039) |
| Operating lease liabilities | (3,015) | (2,511) |
| Accrued expenses and other liabilities | 2,397 | (2,722) |
| Net cash (used in) provided by operating activities | (3,299) | 20,624 |
| Cash flows from investing activities: | ||
| Purchase of property and equipment | (9,435) | (3,495) |
| Proceeds from sale of property and equipment | 12 | 900 |
| Net cash used in investing activities | (9,423) | (2,595) |
| Cash flows from financing activities: | ||
| Payments for tax withholding related to vested stock awards | (173) | — |
| Checks issued not presented for payment | 7,524 | (15,058) |
| Proceeds from line of credit | 1,120,318 | 891,510 |
| Repayment of line of credit | (1,112,012) | (896,959) |
| Repayment of long-term debt | (4,125) | (4,653) |
| Repayment of obligations under finance leases | (2,597) | (1,974) |
| Cash distribution to shareholders | — | (884) |
| Net cash provided by (used in) financing activities | 8,935 | (28,018) |
| Net decrease in cash | (3,787) | (9,989) |
| Cash at beginning of the period | 15,232 | 24,289 |
| Cash at end of the period | $11,445 | $14,300 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Right-of-use assets obtained in exchange for operating lease liabilities | $5,222 | $1,024 |
| Property acquired in exchange for finance leases | 10,646 | 1,285 |
| Dissolution of noncontrolling interests | 772 | — |
| Capital expenditures included in accounts payable | 607 | — |
| Note receivable related to property and equipment sales | — | 300 |
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