Welcome to our dedicated page for GROW GENERATION news (Ticker: GRWG), a resource for investors and traders seeking the latest updates and insights on GROW GENERATION stock.
GrowGeneration Corp. (symbol: GRWG) is a leading company in the United States that owns and operates retail hydroponic and organic gardening stores. The company specializes in the marketing and distribution of a wide range of horticultural, organic, lighting, and hydroponic products. These include lighting fixtures, nutrients, seeds, growing media, systems, trays, fans, filters, humidifiers and dehumidifiers, timers, instruments, water pumps, irrigation supplies, and hand tools.
Founded with a vision to support commercial and urban cultivators, GrowGeneration has established itself as a go-to resource for those growing specialty crops, including organics, greens, and plant-based medicines. As of March 27, 2020, the company operated 27 retail and commercial hydroponic/gardening centers, spanning multiple states such as Colorado, California, Michigan, Nevada, Washington, Oregon, Oklahoma, Rhode Island, Maine, and Florida.
In addition to its brick-and-mortar locations, GrowGeneration also operates an e-commerce store, growgen.pro, which offers an extensive selection of products to meet the needs of growers nationwide. The company caters to a diverse customer base, from hobbyist gardeners to large-scale commercial operations.
GrowGeneration Corp. is divided into two primary segments. The Cultivation and Gardening segment focuses on the core business of hydroponic and organic gardening products, while the Storage Solutions segment provides benching, racking, and storage solutions, ensuring efficient space utilization for growers.
With a commitment to innovation and quality, GrowGeneration continues to expand its footprint and enhance its product offerings. The company has formed strategic partnerships and continually invests in new technologies to better serve its customers. These efforts have positioned GrowGeneration as an industry leader in the fast-growing market for hydroponic and organic gardening supplies.
Financially, the company has shown robust growth, leveraging its extensive network of retail and online platforms to drive sales and profitability. Recent achievements include the expansion of its retail locations and the introduction of new product lines that cater to the evolving needs of modern cultivators.
Stay updated with the latest news and developments from GrowGeneration Corp. as the company continues to innovate and lead the way in hydroponic and organic gardening solutions.
GrowGeneration Corp (NASDAQ: GRWG), the largest chain of hydroponic and organic garden centers, announced the appointment of Dennis Sheldon as Senior Vice President of Global Supply Chain effective May 10, 2021. With over 30 years of experience, Sheldon previously served as COO at PopSockets and held leadership roles at Crocs Inc. CEO Darren Lampert emphasized the importance of Sheldon's expertise in scaling the supply chain for their growing operations. GrowGen currently operates 53 stores across 12 states and aims to strengthen its national supply chain in the cannabis industry.
GrowGeneration Corp (NASDAQ: GRWG) plans to release its financial results for Q1 2021 on May 12, 2021, after market close. A conference call will occur on May 13, 2021, at 9:00 a.m. ET to discuss these results. GrowGeneration operates the largest chain of hydroponic and organic garden centers in the U.S., with 53 locations across various states. The company aims to expand its presence further in the industry, targeting a market expected to reach approximately $16 billion by 2025.
GrowGeneration Corp. (NASDAQ: GRWG) has partnered with Belushi's Farm to enhance its greenhouse operations in Oregon. This collaboration aims to double the farm's yield with GrowGeneration providing top-grade supplies and cannabis-growing expertise. Belushi's Farm, founded by Jim Belushi, has grown significantly since 2015 and is known for its premium cannabis brands. With over 53 stores nationwide, GrowGeneration continues to expand, projecting revenues of $415-$430 million for 2021, driven by commercial clients and innovative products.
GrowGeneration (NASDAQ: GRWG) is expanding its operations by signing a lease for a new 40,000-square-foot hydroponic garden center in Jackson, Mississippi. This will be the first location in the state, coinciding with the introduction of Mississippi's medical cannabis program. The facility will provide indoor vertical farming and controlled environment agriculture, aligning with the growing demand for hydroponic supplies. CEO Darren Lampert emphasized Mississippi's potential as a gateway for medical cannabis in the South, projecting an influx of license holders needing GrowGen's expertise and products.
GrowGeneration Corp (NASDAQ: GRWG) announced the acquisition of Downriver Hydroponics, expanding its footprint in Michigan to seven locations. Downriver Hydro, the largest hydroponics store in Wayne County, has annual revenues nearing $10 million. This acquisition aligns with Michigan's projected $3 billion cannabis market growth over the next three years. GrowGen reported record revenues of $193 million for 2020, a 143% increase year-over-year, and anticipates 2021 revenues between $415-$430 million, further strengthening its market position.
GrowGeneration Corp (NASDAQ: GRWG) has announced the appointment of Jeffrey Lasher as the new Chief Financial Officer (CFO), effective April 15, 2021. His predecessor, Monty Lamirato, is retiring after serving since 2016. Lasher has extensive experience, having held CFO positions at Crocs and West Marine, where he helped increase revenue significantly. GrowGeneration aims for $1 billion in sales, and Lasher's leadership is expected to drive geographical and strategic expansion. The company values its contributions to the Colorado community and emphasizes its commitment to shareholders.
GrowGeneration Corp (NASDAQ: GRWG) announced the appointment of Jeffrey Lasher as the new Chief Financial Officer, effective April 15, 2021. Lasher succeeds Monty Lamirato, who retired after serving since 2016. With experience as CFO at Crocs and West Marine, Lasher aims to drive the company towards its goal of $1 billion in sales. His background in managing billion-dollar companies aligns well with GrowGeneration's vision in the hydroponics market, which is projected to reach approximately $16 billion globally by 2025.
GrowGeneration Corp. (NASDAQ: GRWG) announced record revenues of $193.0 million for full-year 2020, a 143% increase from 2019. Adjusted EBITDA was $19.2 million, up 264%, and pre-tax net income reached $8.6 million, a 508% rise. The company raised its 2021 revenue guidance to $415-$430 million and adjusted EBITDA guidance to $48-$51 million. Q1 2021 revenue is projected at $86-$88 million, with adjusted EBITDA at $9-$9.5 million. GrowGen plans to expand to over 60 hydroponic garden centers in 15 states by year-end 2021 and reach over 100 by 2023.
GrowGeneration Corp. (NASDAQ: GRWG) reported a record revenue of $193.0 million for 2020, a 143% increase from $79.7 million in 2019. Adjusted EBITDA rose to $19.2 million, up from $5.3 million, with a pre-tax net income of $8.6 million. The company has raised its 2021 revenue guidance to $415-$430 million and adjusted EBITDA guidance to $48-$51 million. It expects to expand to over 60 hydroponic garden centers in 15 states by year-end. The appointment of Jeffrey Lasher as CFO reflects its strategic growth focus.
GrowGeneration Corp (NASDAQ: GRWG) has acquired Agron.io, a leading wholesale agriculture platform designed for commercial growers. This acquisition allows GrowGen to enhance its service offerings, providing a one-stop solution for purchasing and logistics management. Agron.io boasts over 10,000 products available with real-time inventory updates and competitive pricing. The company anticipates that Agron.io will contribute $20 million in revenue this year. Following a record earnings quarter, GrowGen also raised its 2021 revenue guidance to between $335 million and $350 million.
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