Hydrofarm Q1 net sales $54.2M, net loss $0.28/sh; Adj EBITDA positive $0.3M; reaffirms FY outlook

HYDROFARM HOLDINGS GROUP, INC.

2024-Q1 EPS reported -$0.28 revenue$54,172,000

Net sales $54.2M, down 13% YoY on volume decline; Adj gross margin improved to 23.4%.
Net loss improved to $12.6M ($0.28/share) from $16.8M loss ($0.37/share) in Q1 2023.
Adjusted EBITDA turned positive at $0.3M vs ($2.1M) prior year; Free cash flow improved by $6.9M.
Reaffirms FY2024 outlook: net sales decrease low to high teens, positive Adj EBITDA and Free Cash Flow.
Agreed to sell durable equipment assets for ~$8.7M; expects ~$12M loss on disposition in Q2 2024.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

HYDROFARM HOLDINGS GROUP, INC. reported the first quarter ended March 31, 2024 results: revenue $54.2 million, net income $12.6 million, EPS $(0.28) per diluted share. Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $54.2 million
Net income: $12.6 million
EPS: $(0.28) per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

agriculture, today announced financial results for its first quarter ended March 31, 2024. First Quarter 2024 Highlights vs. Prior Year Period: • Net sales decreased to $54.2 million compared to $62.2 million. • Gross Profit Margin increased to 20.2% of net sales compared to 18.3%. • Adjusted Gross Profit Margin (1) increased to 23.4% of net sales compared to

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Source: SEC EDGAR

accession 0001628280-24-023051

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