Welcome to our dedicated page for Hydrofarm Holdings Group news (Ticker: HYFM), a resource for investors and traders seeking the latest updates and insights on Hydrofarm Holdings Group stock.
Hydrofarm Holdings Group, Inc. (symbol: HYFM) stands as a prominent distributor and manufacturer of high-quality hydroponics equipment and supplies, making it the nation's oldest and largest entity in this sector. The company's diverse product portfolio includes lighting solutions, growing media like premium soils and alternatives, nutrients, and various agriculture supplies. These products are marketed under proprietary, exclusive/preferred, or non-exclusive/distributed brands and are found in hundreds of stores and catalogs across North America.
Organized into two key operating segments, the U.S. and Canada, Hydrofarm continually aims to empower growers, farmers, and cultivators with products that enhance quality, efficiency, consistency, and speed in their growing projects. The company's mission is not only to make growing more productive but also to make it easier for enthusiasts of all levels.
Hydrofarm's recent initiatives emphasize sustainability and eco-friendly living. For instance, the company recently featured its innovative products like the SunBlaster Mini Greenhouse Kit and Growlight Gardens on 'The Balancing Act,' showcasing their user-friendliness and efficiency. Additionally, Hydrofarm highlighted its Gaia Green Organics fertilizers and Roots Organics Original Soil, which are celebrated for their environmental benefits and quality. This aligns with Hydrofarm’s vision of promoting indoor gardening as a fun, family-oriented activity that also educates younger generations about food origins.
The latest news reveals continuous improvements in key operating metrics, driven by significant cost savings, enhancing Hydrofarm's financial performance. By staying committed to innovation and customer satisfaction, Hydrofarm remains a significant player in the agricultural sector, contributing to sustainable living and indoor gardening advancements.
Investor Contact: Anna Kate Heller / ICR
Email: ir@hydrofarm.com
Hydrofarm Holdings Group reported strong financial results for Q4 and full-year 2020, showing significant growth in net sales and gross profit. Q4 net sales surged by 62.6% to $87.4 million, while gross profit soared 190.5% to $16.0 million. The company reduced its net loss to $10 million from $17.7 million year-over-year. For 2021, Hydrofarm anticipates organic net sales growth of 20-25%, with estimated adjusted EBITDA between $28.0 million and $31.0 million. Additionally, the company is exploring acquisition opportunities to leverage its strong balance sheet.
Hydrofarm (Nasdaq: HYFM) announced the launch of new high-performance products from GroStar, Autopilot, Plant Success, Rock Rootinator, and Roots Organics. These product additions enhance Hydrofarm's portfolio in lighting, climate control, nutrients, and growing media. Notable new offerings include Autopilot HID Controllers, durable GroStar pH EC Pens, and Plant Success King Crab, which increases yields and enhances nutrient uptake. Hydrofarm's product innovation continues since its December 2020 IPO, supporting the rapidly growing hydroponics market.
Hydrofarm Holdings Group (Nasdaq: HYFM) will host a conference call on March 30, 2021, at 5:00 PM ET to discuss its fourth quarter and full year 2020 results. A press release containing these results will be issued after market close on the same day. Investors can access the call via phone or through a live webcast on the company’s website. Hydrofarm is a leading distributor and manufacturer of hydroponics equipment, with over 40 years of experience in supporting growers in controlled environment agriculture.
Hydrofarm Holdings Group (Nasdaq: HYFM) announced an anticipated 20% organic topline growth for the fiscal year 2021, compared to 2020, during its presentation at the Truist 2021 Consumer Symposium. CEO Bill Toler highlighted strong sales momentum post-IPO. Hydrofarm, a leader in hydroponics equipment, plans to report its fourth-quarter results for the fiscal year ending December 31, 2020, in late March 2021.
Hydrofarm Holdings Group (Nasdaq: HYFM) has launched two innovative linear top lights, PHOTOBIO•TX and PHOTOBIO•T, enhancing its portfolio in hydroponics and horticulture. These products are designed to improve plant growth and optimize energy use, showcasing Hydrofarm's commitment to advancing sustainable agriculture. The introduction of these lights is anticipated to strengthen Hydrofarm's market position and cater to the growing demand for efficient growing solutions.
Hydrofarm Holdings Group (Nasdaq: HYFM) has announced a new distribution alliance with Advanced Nutrients, a leader in hydroponics nutrients, to enhance its portfolio in Canada. Eddi’s Wholesale, a Hydrofarm division, will distribute Advanced Nutrients' products starting this month. This partnership aims to improve the availability of high-quality nutrients for Canadian growers, capitalizing on Eddi's extensive distribution network. The alliance aligns with Hydrofarm's strategy to expand its presence in North America and meet the growing demand for innovative hydroponics solutions.
Hydrofarm Holdings Group, a key player in hydroponics, announced its participation in a virtual fireside chat at the 23rd Annual ICR Conference on January 13, 2021, starting at 10:30 AM ET. The company, which has been supporting growers for over 40 years, specializes in hydroponics equipment and supplies, including grow lights and climate control solutions. Its mission focuses on empowering cultivators with innovative products to enhance efficiency and productivity in their agricultural endeavors.
Hydrofarm Holdings Group, a leader in hydroponics, has successfully closed its initial public offering, selling 9,966,667 shares at $20.00 each, raising approximately $182.5 million in net proceeds. This includes the full exercise of an underwriter option for 1,300,000 additional shares. The company's shares are now trading on Nasdaq under the symbol HYFM. J.P. Morgan and Stifel led the offering, with other firms participating as book-running managers. The registration statement was made effective by the SEC on December 9, 2020.
Hydrofarm Holdings Group, a top hydroponics distributor, has set the initial public offering (IPO) price for 8,666,667 shares at $20.00 each. The IPO is scheduled to begin trading on Nasdaq under the ticker symbol HYFM on December 10, 2020, with the closing anticipated on December 14, 2020. An additional 1,300,000 shares may be purchased by underwriters for over-allotments. J.P. Morgan and Stifel are leading the offering, which follows the SEC’s declaration of effectiveness for its registration statement on December 9, 2020.
Hydrofarm Holdings Group has announced an initial public offering (IPO) of 8,666,667 shares of its common stock, priced between $14.00 and $16.00 per share. They will grant underwriters a 30-day option for an additional 1,300,000 shares. The company intends to list on the Nasdaq Global Market under the symbol HYFM. J.P. Morgan and Stifel are the leading managers for this offering. A registration statement has been filed with the U.S. SEC but is not yet effective, and the offering will be conducted via a prospectus.
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