Hydrofarm Q2 net sales down 13.1% to $54.8M; net loss widens to $23.5M

HYDROFARM HOLDINGS GROUP, INC.

2024-Q2 EPS reported -$0.79 revenue$108,965,000

Net sales $54.8M vs $63.1M; net loss $23.5M ($0.51/sh) vs $12.9M ($0.28/sh) YoY.
Adjusted EBITDA $1.7M vs $2.5M; Adjusted Gross Profit Margin 24.4% vs 27.0%.
Completed IGE Asset Sale in May 2024 for non-cash loss of $11.5M; entered supply agreement.
Reaffirms FY2024 outlook: net sales down low-to-high teens, positive Adj EBITDA and Free Cash Flow.
Cash $30.3M; zero revolver balance; ~$20M available borrowing capacity.

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