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GrowGeneration: 3Q Earnings Snapshot

·1 min read

DENVER (AP) _ GrowGeneration Corp. (GRWG) on Wednesday reported third-quarter profit of $3.3 million.

The Denver-based company said it had profit of 6 cents per share.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 6 cents per share.

The company posted revenue of $55 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $47.3 million.

GrowGeneration expects full-year revenue in the range of $185 million to $190 million.

GrowGeneration shares have climbed fivefold since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20.94, more than quadrupling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GRWG at https://www.zacks.com/ap/GRWG