Hydrofarm Holdings Group Full Year 2023 Earnings: Misses Expectations
Hydrofarm Holdings Group (NASDAQ:HYFM) Full Year 2023 Results
Key Financial Results
Revenue: US$226.6m (down 34% from FY 2022).
Net loss: US$64.8m (loss narrowed by 77% from FY 2022).
US$1.42 loss per share (improved from US$6.35 loss in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Hydrofarm Holdings Group Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 50%.
Looking ahead, revenue is expected to decline by 2.7% p.a. on average during the next 3 years, while revenues in the Machinery industry in the US are expected to grow by 3.3%.
Performance of the American Machinery industry.
The company's shares are up 3.4% from a week ago.
Risk Analysis
We don't want to rain on the parade too much, but we did also find 2 warning signs for Hydrofarm Holdings Group that you need to be mindful of.
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