Hydrofarm Holdings Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 09, 2022 at 09:05 pm
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Hydrofarm Holdings Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 74.16 million compared to USD 123.82 million a year ago. Net loss was USD 23.54 million compared to net income of USD 17.27 million a year ago. Basic loss per share from continuing operations was USD 0.52 compared to basic earnings per share from continuing operations of USD 0.39 a year ago. Diluted loss per share from continuing operations was USD 0.52 compared to diluted earnings per share from continuing operations of USD 0.37 a year ago.
For the nine months, sales was USD 283.04 million compared to USD 369.01 million a year ago. Net loss was USD 250.15 million compared to net income of USD 24.46 million a year ago. Basic loss per share from continuing operations was USD 5.57 compared to basic earnings per share from continuing operations of USD 0.64 a year ago. Diluted loss per share from continuing operations was USD 5.57 compared to diluted earnings per share from continuing operations of USD 0.58 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. 
