Hydrofarm Holdings Group, Inc. (NASDAQ: HYFM) reported Q4 EPS of ($0.33), $0.14 worse than the analyst estimate of ($0.19). Revenue for the quarter came in at $47.2 million versus the consensus estimate of $51.29 million.

Full Year 2024 Outlook

The Company is providing the following outlook for the full fiscal year 2024:

Net sales to decrease low to high teens in percentage terms.
Adjusted EBITDA(1) that is positive.
Free Cash Flow(1) that is positive.

Hydrofarm’s 2024 outlook is predicated on several assumptions, including:

Improved year-over-year Adjusted Gross Profit Margin(1) resulting primarily from (i) cost savings associated with restructuring and related productivity initiatives and (ii) an expectation of minimal non-restructuring inventory reserves or related charges.
Reduced year-over-year Adjusted SG&A(1) expense resulting primarily from (i) full year benefit of headcount reductions completed in 2023 and (ii) further reductions in professional fees, facilities and insurance expenses.
Reduction in inventory and net working capital helping to generate positive Free Cash Flow(1) for the full year.
Capital expenditures of approximately $4.0 million to $5.0 million.

For earnings history and earnings-related data on Hydrofarm Holdings Group, Inc. (HYFM) click here.