Hydrofarm Q4 net loss improves to $15.2M; FY2023 adj EBITDA turns positive to $0.3M

HYDROFARM HOLDINGS GROUP, INC.

2023-FY EPS reported -$1.42 revenue$226,581,000

Q4 net sales $47.2M, down 23% YoY from $61.5M; volume declined 18.7%, price/mix down 4.5%.
FY2023 net loss improved to $64.8M from $285.4M; positive adjusted EBITDA of $0.3M (FY2022: -$21.2M).
Gross margin expanded: FY2023 adjusted gross profit margin 24.3% vs 14.0% prior year.
FY2023 free cash flow positive $2.8M; cash balance $30.3M, no revolver draw.
2024 outlook: net sales to decrease low to high teens; positive adj EBITDA and FCF expected.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

HYDROFARM HOLDINGS GROUP, INC. updated its the fourth quarter and full year ended December 31, 2023 guidance (reaffirmed).

Period: the fourth quarter and full year ended December 31, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On February 29, 2024, Hydrofarm Holdings Group, Inc. issued a press release announcing its financial results for the fourth quarter and full year ended December 31, 2023, and full-year 2024 outlook.

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Source: SEC EDGAR

accession 0001628280-24-007798

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