Hydrofarm Q3 net sales down 27% to $54.2M; adjusted EBITDA turns positive at $0.5M

HYDROFARM HOLDINGS GROUP, INC.

2023-Q3 EPS reported -$1.09 revenue$179,397,000

Net sales $54.2M, down from $74.2M YoY; net loss $19.9M ($0.44/share).
Adjusted EBITDA positive $0.5M vs negative $9.0M YoY; Free Cash Flow $6.9M.
Second restructuring phase initiated, $7.8M charges expected to yield $1.5M annual savings.
Reaffirmed FY2023 guidance: net sales $230-240M, modestly positive adjusted EBITDA, positive FCF.
Cash $32.5M, zero revolver balance, compliance with debt covenants.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HYDROFARM HOLDINGS GROUP, INC. updated its third quarter ended September 30, 2023 guidance (reaffirmed).

Period: third quarter ended September 30, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Hydrofarm Holdings Group, Inc. issued a press release announcing its financial results for the third quarter ended September 30, 2023 and reaffirming its full-year 2023 outlook.

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Source: SEC EDGAR

accession 0001628280-23-038237

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