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) 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.
Zoned Properties, Inc. (OTCQB: ZDPY) appointed Jody Kane to its Board of Directors, enhancing its leadership team with expertise in capital markets, real estate, and the cannabis sector. CEO Bryan McLaren emphasizes the strategic growth and value creation potential for Zoned Properties as it capitalizes on opportunities in the regulated cannabis real estate market. Kane, co-founder of Diamond Bridge Capital and a former board member of Grow Generation Corp. (Nasdaq: GRWG), brings significant investment management experience that is expected to support the company's mission and expansion strategies.
GrowGeneration Corp. (NASDAQ: GRWG) has opened a new 25,000 square foot hydroponic garden center in Ardmore, Oklahoma, marking its 63rd location nationwide and sixth in the state. Located near Interstate 35 and the Texas border, this expansion comes as Oklahoma's medical cannabis market has grown significantly, surpassing California in the number of licensed farms. CEO Darren Lampert emphasized that the new store will offer the largest selection and best service for various growers. GrowGeneration is the largest chain in the hydroponic and organic gardening sector.
GrowGeneration Corp (NASDAQ: GRWG) has launched the NEXTGEN initiative in partnership with Harvest 360 Technologies to support social equity in the cannabis industry. This program will award 25 cultivation teams a full scholarship package, with a total commitment of up to $500,000. The initiative aims to empower minority, women, and veteran entrepreneurs in New Jersey's Adult-Use Cannabis market, attracting over 500 applicants. The scholarship includes access to equipment, business resources, and comprehensive support for selected teams.
GrowGeneration Corp. (NASDAQ: GRWG) announced the acquisition of Mobile Media, Inc and MMI Agriculture for $9.4 million in cash and stock. MMI, based in Ellenville, NY, generated $14.0 million in revenue for 2021 and specializes in mobile shelving systems for various industries, including agriculture. This acquisition aims to enhance GrowGen's offerings in the indoor vertical farming sector, leveraging MMI's innovative systems to maximize crop yields and optimize grow spaces. GrowGeneration continues to expand into newly legalizing East Coast states, positioning itself for future growth.
GrowGeneration Corp (NASDAQ: GRWG) has announced the relocation of its Phoenix, Arizona store to a new 25,000 sq. ft. Super Hydroponic Garden Center, marking the largest facility of its kind in Arizona. This strategic move supports the company's expansion in the hydroponic market, particularly in light of Arizona's thriving cannabis industry, projected to exceed $1 billion in sales this year. The new location enhances product accessibility and serves as a distribution hub for the region, aligning with GrowGeneration's commitment to providing superior hydroponic supplies and expertise to a growing customer base.
GrowGeneration Corp. (NASDAQ: GRWG), the largest chain of specialty hydroponic and organic garden centers, announced its participation in several upcoming virtual investor conferences. The events include the Jefferies Virtual West Coast Consumer Conference on November 17 at 1:10 pm EST, Cowen's 4th Annual Cannabis Conference on December 1 at 11:40 am EST, and the Wolfe Global Consumer Growth Conference on December 15 at 11:40 am EST. CEO Darren Lampert will engage in discussions and one-on-one meetings with institutional investors at these conferences.
GrowGeneration Corp. (NASDAQ: GRWG) reported a record third quarter revenue of $116.0 million, reflecting a 111% increase from the previous year. The company's Adjusted EBITDA reached $10.8 million, while earnings per share were $0.07. Comparable store sales increased 15.7%, driven by strong performance across key product categories and an expansion of private-label offerings, which contributed 8.7% to total sales. Full-year revenue guidance is updated to $435-$440 million.
Significant acquisitions and strategic management additions bolster growth for 2022.
FAQ
What is the current stock price of GROW GENERATION (GRWG)?
What is the market cap of GROW GENERATION (GRWG)?
What does GrowGeneration Corp. do?
Where are GrowGeneration Corp.'s stores located?
Does GrowGeneration Corp. have an online store?
Who are GrowGeneration Corp.'s primary customers?
What are the main business segments of GrowGeneration Corp.?
What kind of products does GrowGeneration Corp. offer?
How does GrowGeneration Corp. support its customers?
What recent achievements has GrowGeneration Corp. made?
What is the financial condition of GrowGeneration Corp.?
How does GrowGeneration Corp. stay ahead in the industry?
