Growgeneration Corp Stock Price, News & Analysis

GrowGeneration Corp (NASDAQ: GRWG) plans to release its financial results for Q1 2021 on May 12, 2021, after market close. A conference call will occur on May 13, 2021, at 9:00 a.m. ET to discuss these results. GrowGeneration operates the largest chain of hydroponic and organic garden centers in the U.S., with 53 locations across various states. The company aims to expand its presence further in the industry, targeting a market expected to reach approximately $16 billion by 2025.

GrowGeneration Corp. (NASDAQ: GRWG) has partnered with Belushi's Farm to enhance its greenhouse operations in Oregon. This collaboration aims to double the farm's yield with GrowGeneration providing top-grade supplies and cannabis-growing expertise. Belushi's Farm, founded by Jim Belushi, has grown significantly since 2015 and is known for its premium cannabis brands. With over 53 stores nationwide, GrowGeneration continues to expand, projecting revenues of $415-$430 million for 2021, driven by commercial clients and innovative products.

GrowGeneration (NASDAQ: GRWG) is expanding its operations by signing a lease for a new 40,000-square-foot hydroponic garden center in Jackson, Mississippi. This will be the first location in the state, coinciding with the introduction of Mississippi's medical cannabis program. The facility will provide indoor vertical farming and controlled environment agriculture, aligning with the growing demand for hydroponic supplies. CEO Darren Lampert emphasized Mississippi's potential as a gateway for medical cannabis in the South, projecting an influx of license holders needing GrowGen's expertise and products.

GrowGeneration Corp (NASDAQ: GRWG) announced the acquisition of Downriver Hydroponics, expanding its footprint in Michigan to seven locations. Downriver Hydro, the largest hydroponics store in Wayne County, has annual revenues nearing $10 million. This acquisition aligns with Michigan's projected $3 billion cannabis market growth over the next three years. GrowGen reported record revenues of $193 million for 2020, a 143% increase year-over-year, and anticipates 2021 revenues between $415-$430 million, further strengthening its market position.

GrowGeneration Corp (NASDAQ: GRWG) announced the appointment of Jeffrey Lasher as the new Chief Financial Officer, effective April 15, 2021. Lasher succeeds Monty Lamirato, who retired after serving since 2016. With experience as CFO at Crocs and West Marine, Lasher aims to drive the company towards its goal of $1 billion in sales. His background in managing billion-dollar companies aligns well with GrowGeneration's vision in the hydroponics market, which is projected to reach approximately $16 billion globally by 2025.

GrowGeneration Corp (NASDAQ: GRWG) has announced the appointment of Jeffrey Lasher as the new Chief Financial Officer (CFO), effective April 15, 2021. His predecessor, Monty Lamirato, is retiring after serving since 2016. Lasher has extensive experience, having held CFO positions at Crocs and West Marine, where he helped increase revenue significantly. GrowGeneration aims for $1 billion in sales, and Lasher's leadership is expected to drive geographical and strategic expansion. The company values its contributions to the Colorado community and emphasizes its commitment to shareholders.

GrowGeneration Corp. (NASDAQ: GRWG) announced record revenues of $193.0 million for full-year 2020, a 143% increase from 2019. Adjusted EBITDA was $19.2 million, up 264%, and pre-tax net income reached $8.6 million, a 508% rise. The company raised its 2021 revenue guidance to $415-$430 million and adjusted EBITDA guidance to $48-$51 million. Q1 2021 revenue is projected at $86-$88 million, with adjusted EBITDA at $9-$9.5 million. GrowGen plans to expand to over 60 hydroponic garden centers in 15 states by year-end 2021 and reach over 100 by 2023.

GrowGeneration Corp. (NASDAQ: GRWG) reported a record revenue of $193.0 million for 2020, a 143% increase from $79.7 million in 2019. Adjusted EBITDA rose to $19.2 million, up from $5.3 million, with a pre-tax net income of $8.6 million. The company has raised its 2021 revenue guidance to $415-$430 million and adjusted EBITDA guidance to $48-$51 million. It expects to expand to over 60 hydroponic garden centers in 15 states by year-end. The appointment of Jeffrey Lasher as CFO reflects its strategic growth focus.

GrowGeneration Corp (NASDAQ: GRWG) has acquired Agron.io, a leading wholesale agriculture platform designed for commercial growers. This acquisition allows GrowGen to enhance its service offerings, providing a one-stop solution for purchasing and logistics management. Agron.io boasts over 10,000 products available with real-time inventory updates and competitive pricing. The company anticipates that Agron.io will contribute $20 million in revenue this year. Following a record earnings quarter, GrowGen also raised its 2021 revenue guidance to between $335 million and $350 million.