Hydrofarm Holdings Group, Inc. Provides Earnings Guidance for the Third Quarter Ended September 30, 2021 and Full Year Ending December 31, 2021
October 26, 2021 at 04:07 pm EDT
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Hydrofarm Holdings Group, Inc. provided earnings guidance for the third quarter ended September 30, 2021 and full year ending December 31, 2021. For the quarter, the company estimated net sales will range between $121.0 million to $124.0 million, as compared to $96.7 million for the three months ended September 30, 2020, an increase of approximately 27% calculated using the midpoint of the range. The company estimate that the year-over-year increase was driven entirely by M&A growth. Net income is expected to range between $13.3 million and $18.3 million, as compared to net income of $2.7 million for the three months ended September 30, 2020.
For the year, the company expected Net sales growth between 37% and 43% or approximately $470.0 million to $490.0 million.
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. 
