earnings
confidence high
sentiment negative
materiality 0.80
GrowGeneration Q1 net loss $5.2M, comp sales -35.5%; slashes FY2022 guidance
GrowGeneration Corp.
2022-Q1 EPS reported
-$0.09
revenue$81,767,000
- Net sales $81.8M (-9.2% YoY); comparable store sales -35.5%; net loss $5.2M vs net income $6.1M.
- GAAP loss per share $0.09; adjusted EBITDA loss $0.7M vs $11.1M positive a year ago.
- FY2022 revenue guidance cut to $340-400M (from $415-445M); adjusted EBITDA guidance cut to $0-10M (from $30-35M).
- New store additions reduced to 10-15 from 15-20; acquired HRG in Feb 2022 for $13.4M.
- Cash and marketable securities $66.3M; inventory $105.9M; current liabilities down to $36.6M.