Hydrofarm Holdings Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 04:33 pm EST
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Hydrofarm Holdings Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 54.17 million compared to USD 74.16 million a year ago. Net loss was USD 19.88 million compared to USD 23.54 million a year ago. Basic loss per share from continuing operations was USD 0.44 compared to USD 0.52 a year ago. Diluted loss per share from continuing operations was USD 0.44 compared to USD 0.52 a year ago.
For the nine months, sales was USD 179.4 million compared to USD 283.04 million a year ago. Net loss was USD 49.6 million compared to USD 250.15 million a year ago. Basic loss per share from continuing operations was USD 1.09 compared to USD 5.57 a year ago. Diluted loss per share from continuing operations was USD 1.09 compared to USD 5.57 a year ago.
Hydrofarm Holdings Group, Inc. is an independent manufacturer and distributor of hydroponics equipment and supplies for controlled environment agriculture (CEA). The products offered by the Company include agricultural lighting devices, indoor climate control equipment, nutrients, and plant additives used to grow, farm, and cultivate cannabis, flowers, fruits, plants, vegetables, grains, and herbs in controlled environment settings that allow end users to control farming variables including temperature, humidity, carbon dioxide, light intensity and color, nutrient concentration, and the potential of hydrogen (pH). Its CEA product categories include lighting solutions, growing media (premium soils and soil alternatives), nutrients, equipment, and supplies. The Company's brands include Active Air, Active Aqua, Aurora Peat Products, HEAVY 16, House & Garden, Gaia Green, Grotek, Innovative Growers Equipment, Mad Farmer, Phantom, PHOTOBIO, Procision, Roots Organics, Soul, and SunBlaster.
HYDROFARM HOLDINGS GROUP, INC. 
