secwatch.observer — SEC 8-K summary
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Issuer:     HYDROFARM HOLDINGS GROUP, INC. (HYFM)
CIK:        0001695295
Form:       8-K
Filed at:   2024-05-14T23:59:59+00:00
Accession:  0001628280-24-023051
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1695295/000162828024023051/0001628280-24-023051-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1695295/000162828024023051/hyfm-20240514.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-023051

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer