Hydrofarm Holdings Group Q1 2024 GAAP EPS $(0.28), Sales $54.172M Beat $50.350M Estimate
Portfolio Pulse from Benzinga Newsdesk
Hydrofarm Holdings Group (HYFM) reported Q1 2024 GAAP EPS of $(0.28) with sales of $54.172M, surpassing the $50.350M estimate. This represents a 7.59% beat on sales estimates but a 12.88% decrease from the previous year's sales of $62.178M.
May 14, 2024 | 11:01 am
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HYFM's Q1 2024 earnings report showed a loss per share of $(0.28) but exceeded sales expectations by 7.59%, with a total of $54.172M against a $50.350M estimate. However, this is a decrease of 12.88% compared to last year's sales.
While HYFM surpassed sales estimates, the decrease in year-over-year sales and the reported loss per share may temper investor enthusiasm. The positive sales surprise could provide some support to the stock price, but the overall financial health as indicated by the EPS loss and sales decrease compared to the previous year might limit upside potential in the short term.
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IMPORTANCE 75
RELEVANCE 100