Hydrofarm Holdings Group Inc (HYFM) said after close Tuesday that it lost $0.19 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $97.5 million, missing estimates by $19.1 million.
In the same quarter a year ago, the company earned $0.31 per share on revenue of $133.8 million.
The stock is up 18.59% to $3.19 after the report.
Hydrofarm Holdings Group Inc's profit margins took a hit as earnings fell at a faster pace than revenues.
Wall Street Analysts had an average rating of Buy on the stock prior to the report.
Trading in the five days leading up to the report earned Hydrofarm Holdings Group Inc a Neutral Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 34. Meanwhile, the average Wall Street analyst rated the stock a Buy.
Hydrofarm Holdings Group Inc is a distributor and manufacturer of agriculture equipment and supplies. Some of its products include lighting solutions, growing media (i.e., premium soils and soil alternatives), nutrients, equipment, and supplies sold under leading proprietary, exclusive/preferred brands or non-exclusive/distributed brands. The business is organized into two operating segments, the U.S. and Canada.
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Hydrofarm Holdings Group Inc Up 18.59% To $3.19 After Earnings
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