Financial Data and Key Metrics Changes - Total net sales grew by 10.5% in Q3 2025, driven by acquisitions and volume growth [24] - Adjusted EBITDA increased by 20.1% to $385.1 million, with net income reported at $58.3 million [27] - Total company cost inflation was approximately 4.9%, with foodservice product cost inflation at 3.7% [25][26] Business Line Data and Key Metrics Changes - Foodservice segment saw organic independent case growth of 3.4% for the full third quarter, with a rebound to 6% in April [13][24] - Chain restaurant business grew cases by 1.5%, supported by new business onboarding [14] - Convenience segment volume grew by approximately 1%, outperforming the industry, while Specialty segment net sales were roughly flat [18][19] Market Data and Key Metrics Changes - The macroeconomic environment remains challenging, with consumer performance described as muted [5][10] - Despite challenges, the company gained market share across all three segments [20] - Inflation rates in foodservice are considered manageable, with ongoing monitoring of commodity prices [15][25] Company Strategy and Development Direction - The company aims to capture growth through a diversified food distribution strategy, focusing on both top and bottom line growth [7] - Strategic priorities include leveraging proprietary brands and procurement synergies to expand gross margins [12] - The company plans to discuss its long-term strategy at the upcoming Investor Day [7][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the current economic landscape and capture market share [10][31] - The company remains cautious about the macro environment but optimistic about recent sales trends [49][50] - Future guidance reflects a conservative approach due to competitive pressures and economic uncertainty [30][31] Other Important Information - The Specialty segment was renamed to align with the company's naming conventions, with no operational changes [21] - The company has a robust M&A pipeline and continues to evaluate strategic acquisition opportunities [30][29] Q&A Session Summary Question: Insights on consumer demand and behavior - Management noted that independent case volume was strong at the beginning of the quarter but faced setbacks in February due to weather and economic uncertainty [36][39] Question: Outlook on food inflation - Management indicated that food inflation is expected to remain in the mid-single digits, with minimal impact from tariffs [41][44] Question: Trends in organic independent case growth - Management acknowledged a robust recovery in April but emphasized caution due to calendar differences and market conditions [48][50] Question: Changes in competition and market share - Management observed increased competition in the industry, particularly among smaller competitors, but noted that larger distributors are gaining market share [81] Question: Margin expectations for Q4 - Management expects minimal EBITDA margin expansion in Q4, influenced by strong prior year comparisons and ongoing productivity measures [98][100]

Latest milestone in Company's transformation plan expands access to specialty products through a seamless digital experience and new branding LAS VEGAS, May 06, 2025 (GLOBE NEWSWIRE) -- 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, today announced the launch of a new e-commerce platform – a unique offering within the specialty foodservice industry to directly s ...

Core Viewpoint - HF Foods Group Inc. is set to report its financial results for the first quarter of 2025 on May 12, 2025, after market close, highlighting its ongoing operations and performance in the foodservice distribution sector [1]. Company Overview - HF Foods Group Inc. is a prominent distributor of fresh produce, frozen and dry food, and non-food products, primarily serving Asian restaurants and other foodservice customers across the United States [3]. - The company aims to meet the growing demand for Asian American cuisine by utilizing its extensive network of distribution centers and strong relationships with growers and suppliers in both the US and Asia [3]. - HF Foods is headquartered in Las Vegas, Nevada, and trades on Nasdaq under the symbol "HFFG" [3].

Core Viewpoint - Innovative Food Holdings, Inc. has announced a change in its independent registered public accounting firm, transitioning from Assurance Dimensions, LLC to Stephano Slack, LLC effective April 28, 2025 [1][3]. Group 1: Change in Auditors - Assurance Dimensions resigned from its role as the Company's auditor due to its decision to exit the public company audit business [1]. - Assurance Dimensions served as the Company's independent auditor for the fiscal years ended December 31, 2024, 2023, and 2022, without any adverse opinions or disagreements during this period [2]. - The Company has engaged Stephano Slack, LLC as its new independent registered public accounting firm, effective April 28, 2025, with Assurance Dimensions staff supporting the transition [3]. Group 2: Company Background - Innovative Food Holdings, Inc. specializes in providing access to specialty foods that are hard to find and are at the forefront of food trends, connecting artisan food makers with professional chefs nationwide [4].

Financial Performance - Sales from continuing operations for Q1 2025 were $131.7 million, a slight increase of 0.4% compared to $131.2 million in Q1 2024 [3][7] - Adjusted EBITDA decreased to $2.3 million, representing a margin of 1.7%, down from $4.9 million and a margin of 3.7% in the same period last year [3][9] - The net loss from continuing operations was $4.0 million, compared to a loss of $1.8 million in Q1 2024 [3][10] - Cash flow from operating activities decreased to $6.2 million from $11.7 million in the prior year [3][11] Financial Position - As of March 22, 2025, net debt was reduced to $47.1 million from $47.8 million at the end of 2024 [3][12] - The financial leverage ratio increased to 2.8x from 2.4x [3][4] - Working capital decreased to $45.8 million from $50.3 million at the end of the previous fiscal year, attributed to seasonal effects [11][12] Market Dynamics - The growth in purchasing volume with distribution clients is helping the company gain market share despite a slowdown in the restaurant industry [5] - The renewal of a supply agreement with an institutional client at lower margins than in 2024 is impacting financial performance [8][9] - Wholesale activities sales decreased by 3.8%, primarily due to the slowdown in the restaurant industry [8] Strategic Initiatives - The company announced an agreement to acquire the food distribution assets of Alimplus Inc. and its subsidiary Tout-Prêt Inc. for $51.5 million, pending closing conditions [7] - Management is focusing on sound financial management and aims to improve product and customer mix to mitigate the impact of lower-margin contracts [13]

Core Insights - Service Corporation International (SCI) reported strong first-quarter 2025 results, with both revenue and earnings exceeding expectations, indicating robust performance in the funeral segment [1][2]. Financial Performance - Adjusted earnings per share were 96 cents, surpassing the Zacks Consensus Estimate of 90 cents, and increased from 89 cents in the prior year, reflecting a 7.9% year-over-year growth [2]. - Total revenues reached $1,074.2 million, a 2.8% increase from $1,045.4 million in the same quarter last year, also beating the consensus estimate of $1,054 million [2]. - Gross profit rose 6.3% to $291.4 million, with gross margin expanding by 90 basis points to 27.1% [3]. Segment Performance - **Funeral Operations**: Total funeral revenues were $639.5 million, exceeding the consensus estimate of $607.3 million, and up from $604.7 million in Q1 2024. Gross profit in this segment increased 16.8% to $154 million, with gross margin improving by 230 basis points to 24.1% [5]. - **Cemetery Operations**: Total cemetery revenues were $434.7 million, slightly below the consensus estimate of $446.4 million, and down from $440.6 million in the previous year. Gross profit decreased 3.4% to $137.4 million, with gross margin declining by 70 basis points to 31.6% [10]. Operational Metrics - The number of funeral services performed increased to 97,854 from 94,366 in the prior year, with average revenues per service rising to $5,748 from $5,608 [5]. - Comparable funeral services performed grew 1.8% to 95,624, while comparable cemetery results showed core revenues decreased 2.5% to $397.7 million [7][11]. Financial Health - As of the end of the quarter, the company had cash and cash equivalents of $227.2 million, long-term debt of $4.74 billion, and total equity of $1.65 billion [13]. - Net cash provided by operating activities was $311.1 million, with total capital expenditure amounting to $78.2 million [14]. Guidance - For 2025, SCI maintains its guidance for adjusted earnings per share at $3.70-$4.00, aligning with its long-term growth framework of 8% to 12% [15]. - Total capital expenditure for 2025 is projected at $315 million, with allocations for capital improvements, cemetery property development, and digital investments [17].

Company Overview - The Chefs' Warehouse, Inc. is a premier distributor of specialty food products in the United States, the Middle East, and Canada [3] - The company serves chefs operating leading independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolateries, cruise lines, casinos, and specialty food stores [3] - It carries and distributes over 88,000 products to more than 50,000 customer locations [3] Upcoming Event - The company will participate in a fireside chat at the BMO Global Farm to Market Conference in New York on May 14, 2025, starting at 11:00 a.m. ET [1] - Investors and interested parties can listen to a webcast of the fireside chat on the company's investor relations website [2]

Core Viewpoint - Altria Group Inc. reported mixed first-quarter 2025 results, with a decline in top-line revenue but an increase in bottom-line earnings, reaffirming its 2025 adjusted EPS guidance [1][2]. Financial Performance - Adjusted earnings per share (EPS) for the first quarter were $1.23, a 6% increase year over year, surpassing the Zacks Consensus Estimate of $1.17 [2]. - Net revenues totaled $5,259 million, down 5.7% year over year, missing the consensus estimate of $4,638.2 million [2]. - Revenues from smokeable products fell 5.8% to $4,622 million, primarily due to reduced shipment volume, although higher pricing provided some offset [4]. Segment Analysis - **Smokeable Products**: - Net revenues decreased 5.8% year over year to $4,622 million, with domestic cigarette shipment volumes down 13.7% [4][5]. - Adjusted operating income (OCI) increased 2.7% to $2,518 million, with adjusted OCI margins growing 4.2 percentage points to 64.4% [6]. - **Oral Tobacco Products**: - Net revenues rose 0.5% to $654 million, driven by higher pricing, despite a 5% decline in domestic shipment volumes [7][8]. - Adjusted OCI remained flat, with a slight decline in adjusted OCI margin by 0.3 percentage points to 69.2% [9]. Shareholder Returns and Guidance - The company repurchased 5.7 million shares for $326 million in the first quarter, with $674 million remaining under its $1 billion share repurchase program [11]. - Altria expects 2025 adjusted EPS in the range of $5.30 to $5.45, reflecting a year-over-year growth of 2% to 5% from a base of $5.19 in 2024 [12][13]. Market Context - Altria's stock has gained 12.6% over the past three months, compared to the industry's growth of 21.8% [15].

Financial Data and Key Metrics Changes - Net sales increased by approximately 8.7% to $950.7 million from $874.5 million in Q1 2024 [10] - Gross profit increased by 7.9% to $226 million, with gross profit margins decreasing by approximately 18 basis points to 23.8% [12] - GAAP net income was $10.3 million or $0.25 per diluted share, compared to $1.9 million or $0.05 per diluted share in Q1 2024 [13] - Adjusted EBITDA for Q1 2025 was $47.5 million compared to $40.2 million in the prior year [13] Business Line Data and Key Metrics Changes - Specialty sales grew by 10.7%, driven by unique customer growth of approximately 4.5% and placement growth of 7.7% [6] - Gross margins in the specialty category increased by approximately six basis points, while gross margins in the center of the plate category decreased by approximately 83 basis points year over year [7] Market Data and Key Metrics Changes - Net inflation was reported at 5.2%, with 4.8% inflation in the specialty category and 5.9% in the center of the plate category [10] - Average revenue per case in Hardee's increased approximately 12% versus Q1 2024, influenced by the mix of lower volume, higher revenue cases [11] Company Strategy and Development Direction - The company is focusing on digital platform investments to improve profitability and enhance customer-facing functionality [9] - The management emphasized a disciplined approach to capital expenditures and is exploring technology to build smaller, more efficient facilities [32][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the demand environment, noting that April trends were as expected and that the restaurant business remains strong [21] - The company remains cautiously optimistic about future performance despite some concerns regarding tourism and economic conditions [82] Other Important Information - Total liquidity at the end of Q1 was $278.9 million, comprising $116.5 million in cash and $162.4 million available under the ABL facility [14] - Full-year guidance for 2025 estimates net sales between $3.96 billion and $4.04 billion, with adjusted EBITDA between $234 million and $246 million [15][16] Q&A Session Summary Question: Inquiry about tariffs and input costs - Management indicated that tariffs are a small percentage of overall business and that they have diversified their supply chain to mitigate risks [18][20] Question: Impact of international travel on sales - Management noted that while tourism is significant, they do not foresee a material headwind due to a strong local customer base [28] Question: Slowdown in new restaurant formation - Management reported no significant slowdown in new restaurant openings, particularly in areas with population growth [40] Question: Update on Chef Middle East performance - The business is performing well, with continued growth and a new facility opened in December [43] Question: Impact of non-core customer attrition on margins - Management explained that the attrition of low-margin customers has impacted reported volume growth but is expected to lead to a more profitable business in the long run [62][92]

Financial Data and Key Metrics Changes - Net sales increased by approximately 8.7% to $950.7 million from $874.5 million in Q1 2024 [12] - Gross profit increased by 7.9% to $226 million, with gross profit margins decreasing by approximately 18 basis points to 23.8% [14] - GAAP net income was $10.3 million or $0.25 per diluted share, compared to $1.9 million or $0.05 per diluted share in Q1 2024 [15] - Adjusted EBITDA was $47.5 million for Q1 2025, compared to $40.2 million for the prior year [15] Business Line Data and Key Metrics Changes - Specialty sales grew by 10.7%, driven by unique customer growth of approximately 4.5% and placement growth of 7.7% [8] - Gross margins in the specialty category increased by approximately six basis points, while gross margins in the center of the plate category decreased by approximately 83 basis points year over year [9] Market Data and Key Metrics Changes - Net inflation was 5.2%, with 4.8% inflation in the specialty category and 5.9% in the center of the plate category [12] - Average revenue per case in Hardee's increased approximately 12% versus Q1 2024 [13] Company Strategy and Development Direction - The company is focusing on digital platform investments to improve profitability and customer engagement, with 58% of customers ordering online [11] - The company is diversifying its supply chain to mitigate tariff impacts and has alternative sources for many products [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the demand environment, noting that April trends were as expected and that the company is well-positioned for economic fluctuations [24][25] - The company remains cautiously optimistic about future growth, despite some concerns regarding tourism and economic conditions [80] Other Important Information - Total liquidity at the end of Q1 was $278.9 million, with net debt approximately $535.2 million [16] - Full year 2025 guidance estimates net sales between $3.96 billion and $4.04 billion [17] Q&A Session Summary Question: Inquiry about tariffs and input costs - Management indicated that tariffs are a small percentage of overall business and that they have diversified their supply chain to mitigate risks [20][22] Question: Impact of international travel on sales - Management noted that while tourism is significant, most business is conducted in suburban areas, which are less affected by tourism fluctuations [30][32] Question: Slowdown in new restaurant formation - Management reported no significant slowdown in new restaurant openings, particularly in growing areas [41] Question: Update on Chef Middle East performance - The business is performing well, with growth continuing and a new facility opened [45] Question: Impact of non-core customer exits on margins - Management explained that attrition from low-margin customers was anticipated and factored into guidance, with a focus on improving profitability [87][90]