GrowGeneration Stock Dives On Revised FY21 Revenue Outlook Of $420-$422M

Hydroponics innovator GrowGeneration Corp. (NASDAQ: GRWG) reported its revised full-year 2021 revenue expectations of $420 million to $422 million, versus $193 million for 2020 – an increase of 118%.  

The fourth-quarter revenue expectation is between $88 million to $90 million. Same-store sales for 2021 are expected to 24.4% for the full year and decline 12.3% for the fourth quarter, according to the Thursday report.

"We delivered strong shareholder value in 2021 with triple digit revenue growth despite unprecedented persistent challenges and an uncertain operating environment,” GrowGen CEO Darren Lampert stated. "Although we continue to our business significantly, we experienced stronger-than-expected pressures in Q4 from the general slowdown in the hydroponics market. The sales results for Q4 combined with one-time expenses …

Full story available on Benzinga.com

More GrowGeneration Stock Dives On Revised FY21 Revenue Outlook Of $420-$422M