Hydrofarm Projects US$470 – US$490 Million In Net Sales For Fiscal Year 2021
Hydrofarm Holdings Group, Inc. (Nasdaq: HYFM) reaffirmed today its financial outlook for the full fiscal year 2021 ended December 31, 2021. The firm is estimating US$470 – US$490 million in net sales, representing a 37% – 43% year-on-year growth.
The annual outlook incorporates the estimated impact of the firm’s five acquisitions this year: Heavy 16 in May, House & Garden in June, Aurora Innovations in July, Greenstar in August, and IGE in November. However, the firm is also projecting a decline in its organic sales “driven by a sales mix that is primarily consumable products as opposed to durable products.”
Further, the company also guides its adjusted EBITDA for fiscal 2021 at US$47 – US$53 million.
The hydroponics equipment manufacturer said it would release its detailed financial report for the fourth quarter and full year of fiscal 2021 by March 2022, along with a more detailed financial outlook for next year.
Hydrofarm Holdings last traded at US$22.62 on the Nasdaq.
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