GrowGeneration GAAP EPS of -$0.09 misses by $0.01, revenue of $81.77M misses by $1.8M

May 10, 2022 4:04 PM ETGrowGeneration Corp. (GRWG)By: Pranav Ghumatkar, SA News Editor4 Comments
  • GrowGeneration press release (NASDAQ:GRWG): Q1 GAAP EPS of -$0.09 misses by $0.01.
  • Revenue of $81.77M (-9.2% Y/Y) misses by $1.8M.
  • Comparable store sales for the quarter decreased 35.5%.
  • Adjusted EBITDA loss of $0.7 million.
  • 2022 Outlook: Revenue guidance for 2022 updated to be between $340 to $400 million, down from a range of $415 million to $445 million previously.
  • Adjusted EBITDA guidance expected to be between zero and $10 million, down from previous expectations of $30 million to $35 million.
  • Expect to add 10-15 new stores this year, down from previous target of 15-20 new stores, given strategic decision not to build new stores in states where there is already physical retail presence.
  • Shares -3.42%.
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