Welcome to our dedicated page for Growgeneration news (Ticker: GRWG), a resource for investors and traders seeking the latest updates and insights on Growgeneration stock.
GrowGeneration Corp (GRWG) operates as a leading specialty retailer in hydroponic systems and organic gardening supplies, serving commercial cultivators and urban growers through its national retail network and e-commerce platform. This dedicated news hub provides investors and industry stakeholders with verified updates about the company's strategic developments.
Access official press releases, financial reports, and operational announcements covering GRWG's cultivation solutions, storage innovations, and market expansions. Our curated collection ensures timely access to earnings disclosures, leadership changes, product launches, and partnership agreements while maintaining strict compliance with financial reporting standards.
Key content categories include quarterly financial results, facility openings, technological advancements in indoor farming equipment, and sustainability initiatives. Bookmark this page for direct access to primary-source information about GRWG's position in the horticulture retail sector, without promotional commentary or speculative analysis.
GrowGeneration Corp. (NASDAQ: GRWG) announced key organizational changes aimed at fostering growth and shareholder value. Effective August 12, 2022, Greg Sanders has been promoted to Chief Financial Officer, succeeding Jeff Lasher. Sanders brings nearly five years of experience within the company and has played a crucial role in its acquisitions and expansions. Stephen Kozey has been elevated to General Counsel, overseeing legal and compliance functions. These realignments reflect GrowGen's commitment to leverage talent and position itself for future opportunities.
GrowGeneration Corp. (NASDAQ: GRWG) reported a 44% decline in net sales to $71.1 million for Q2 2022, attributed to softer industry demand. The company experienced a net loss of $136.4 million, including a $127.8 million impairment expense. Adjusted EBITDA showed a loss of $2.9 million. Revenue guidance for 2022 has been revised down to $250-$275 million from $340-$400 million. Despite challenges, GrowGen reported $3.8 million in positive cash flow from operations and aims to reduce its annualized cost base by $13 million.
GrowGeneration Corp (NASDAQ:GRWG) will release its financial results for Q2 2022 on August 4, 2022, after market close. A live earnings conference call will follow at 5:00 p.m. EDT. Investors can join by dialing (888) 882-4478 domestically or (647) 484-0475 internationally, using conference code 8913925. The call will also be webcast on the GrowGeneration investor relations site. Currently, GrowGeneration operates 64 hydroponic and organic gardening stores across the U.S., with a comprehensive online store for cultivators.
GrowGeneration Corp (NASDAQ: GRWG) announced the results of its 2022 annual shareholder meeting held on June 23, 2022. Shareholders approved the election of five directors: Michael Salaman, Darren Lampert, Eula Adams, Stephen Aiello, and Paul Ciasullo. Additionally, Grant Thornton was reappointed as independent auditors, and executive compensation proposals were also approved for a one-year term. CEO Darren Lampert expressed gratitude for shareholder support. GrowGeneration operates 64 stores across the U.S. and provides a range of hydroponic and organic gardening products.
GrowGeneration Corp (NASDAQ: GRWG) announced the opening of a new hydroponic garden center in Jackson, Mississippi, marking its first store in the state and the 64th nationwide. The store will open on June 27, 2022, expanding GrowGen's operational states to 14. Additionally, the company signed leases for new stores in North Chesterfield, Virginia, and Hazelwood, Missouri, expected to increase its operational presence to 16 states. The new locations will feature vertical farming demonstrations aimed at supporting growers.
GrowGeneration Corp (NASDAQ: GRWG), a leading chain of specialty hydroponic and organic garden centers, announces the launch of Drip Hydro, a new liquid nutrient line developed by industry experts. Designed to improve crop quality and lower costs, Drip Hydro consists of a five-part fluid program aimed at maximizing plant potential. The product promises ease of use for growers, addressing common nutrient challenges. Following extensive testing with top growers, Drip Hydro is available in selected stores and online, expanding GrowGen's product offerings in the market.
GrowGeneration Corp (NASDAQ: GRWG), the largest chain of specialty hydroponic and organic garden centers in the U.S., announced upcoming participation in investor conferences. CEO Darren Lampert will speak at the Wolfe Research May Consumer Conference on May 13, 2022, and at the BMO Global Farm to Market Conference on May 19, 2022. GrowGeneration operates 63 stores across multiple states, including California and Colorado, and offers a wide range of products for indoor and outdoor cultivation through its online superstore.
GrowGeneration Corp. (NASDAQ: GRWG) reported a 9.2% decline in net sales to $81.8 million for Q1 2022, driven by a 35.5% drop in comparable store sales. The company posted a net loss of $5.2 million, or $0.09 per share, compared to a net income of $6.1 million in Q1 2021. Adjusted EBITDA was a loss of $0.7 million, down from $11.1 million last year. The revenue guidance for 2022 has been reduced to $340-$400 million, and Adjusted EBITDA expectations revised to between $0 and $10 million. The company plans to open 10-15 new stores, decreasing from an initial target of 15-20.
GrowGeneration Corp (NASDAQ:GRWG) will release its Q1 financial results on May 10, 2022, after market close. A live earnings conference call is scheduled for 5:00 p.m. EST. Participants can join by dialing (800) 289-0438 for domestic or (647) 484-0478 for international calls, using conference code 219309. GrowGeneration operates 63 hydroponic and organic gardening stores across the U.S. and also runs an online superstore, offering products for growers.
GrowGeneration Corp. (NASDAQ: GRWG) reported record revenues of $422.5 million for 2021, a 118% increase year-over-year, with a fourth quarter revenue of $90.6 million, up 46%. However, they recorded a net loss of $4.1 million in Q4, contrasting with a net income of $1.5 million in Q4 2020. Adjusted EBITDA for the full year was $34.5 million, while Q4 saw a loss of $1.9 million. Looking ahead, the company projects 2022 revenues between $415 million and $445 million and plans to open 15 to 20 new garden centers.
