Welcome to our dedicated page for Hydrofarm Holdings Group news (Ticker: HYFM), a resource for investors and traders seeking the latest updates and insights on Hydrofarm Holdings Group stock.
Hydrofarm Holdings Group, Inc. (HYFM) is a leader in hydroponic equipment and controlled environment agriculture solutions. This news hub provides investors and industry professionals with direct access to official corporate announcements, financial updates, and strategic developments.
Track all key updates including earnings reports, product innovations, sustainability initiatives, and partnership announcements. Our curated collection ensures you stay informed about developments affecting Hydrofarm's position in the indoor farming and specialty agriculture sectors.
Discover press releases covering grow light technology advancements, climate control system updates, and distribution network expansions. All content is sourced from verified corporate communications to ensure accuracy and compliance with financial disclosure standards.
Bookmark this page for streamlined access to Hydrofarm's latest operational milestones. Check back regularly to monitor how the company continues shaping efficient cultivation practices through its specialized equipment and agricultural expertise.
Hydrofarm Holdings Group announced its first quarter 2024 results, highlighting a decrease in net sales to $54.2 million from $62.2 million year-over-year.
Gross profit margin increased to 20.2%, and adjusted gross profit margin rose to 23.4%. Net loss improved to $12.6 million, and adjusted EBITDA turned positive at $0.3 million.
Cash used in operating activities and free cash flow improved by $6.7 million and $6.9 million, respectively.
The company is selling assets related to certain durable equipment products for $8.7 million, expecting improved profitability for its IGE branded products. Hydrofarm reaffirms its 2024 guidance for positive adjusted EBITDA and free cash flow despite forecasted net sales decline.
Hydrofarm Holdings Group, Inc. will announce its first quarter 2024 results on May 14, 2024. The company is a leading manufacturer and distributor of hydroponics equipment for controlled environment agriculture. The conference call to review the results will be held at 8:30 AM ET.
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