Hydrofarm Q4 sales drop 44% to $61.5M; net loss widens; FY23 outlook modestly positive EBITDA

HYDROFARM HOLDINGS GROUP, INC.

Q4 net sales $61.5M, down 44% YoY; net loss $(35.3)M vs $(11.0)M.
FY22 net sales $344.5M, down 28% YoY; net loss $(285.4)M vs net income $13.4M.
Q4 Adjusted EBITDA $(8.4)M vs $4.9M; includes $2.5M inventory/AR reserves.
FY23 outlook: net sales $290-310M, modestly positive Adjusted EBITDA, positive free cash flow.
Initiated restructuring with $7.7M charge; expects $7.0M annual savings.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HYDROFARM HOLDINGS GROUP, INC. updated its fourth quarter and full year ended December 31, 2022 guidance (reaffirmed).

Period: fourth quarter and full year ended December 31, 2022
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On March 9, 2023, Hydrofarm Holdings Group, Inc. issued a press release announcing its financial results for the fourth quarter and full year ended December 31, 2022 and full year 2023 outlook.

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Source: SEC EDGAR

accession 0001628280-23-007299

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