earnings
confidence high
sentiment negative
materiality 0.60
Hydrofarm Q3 net sales down 18.8% to $44M, loss improves to $13.1M
HYDROFARM HOLDINGS GROUP, INC.
2024-Q3 EPS reported
-$1.07
revenue$152,974,000
- Net sales $44.0M (-18.8% YoY); net loss $13.1M ($0.29/share) vs $19.9M loss prior year.
- Adjusted gross profit margin expanded to 24.3% from 23.0%; adjusted SG&A down 10.7% YoY.
- Cash $24.4M, zero revolver balance; entered sixth amendment cutting revolver capacity to $35M.
- Reaffirms FY2024: net sales down low-high teens, positive adjusted EBITDA, positive free cash flow.
- Updated FY2024 outlook: adj. gross margin flat to slightly down; capex lowered to $2.5-$3.5M.