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Why Investors Loved GrowGeneration's Q1 Update


Why Investors Loved GrowGeneration s Q1 Update
Keith Speights
At one point in early February, shares of
GrowGeneration (NASDAQ: GRWG) were up more than 60% year to date. It s been a wild ride for investors since then, with the stock giving up all of those gains.
However, GrowGeneration could be poised for a rebound. The hydroponics and organic gardening retailer announced its first-quarter results after the market closed Wednesday. The ancillary marijuana stock jumped close to 7% in after-hours trading. Here are the highlights from GrowGeneration s Q1 update.
© Getty Images
A marijuana leaf.
By the numbers
GrowGeneration reported revenue in the first quarter of $90 million, a 173% year-over-year jump. This result blew past the average analysts revenue estimate of $87.14 million. ....

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GrowGeneration Reports Record First Quarter 2021 Financial Results and Raises Full-Year 2021 Guidance


 
First Quarter Revenue Increased by 173%, to $90 million
Comparable Store Sales for the Quarter Increased 51% from Prior Year
Record Earnings of $0.10 Per Share in the Quarter
DENVER, May 12, 2021 /PRNewswire/ - GrowGeneration Corp. (NASDAQ: GRWG), ( GrowGen or the Company ), the largest chain of specialty hydroponic and organic garden centers with 53 locations across 12 states, today reported record first quarter 2021 revenues of $90 million, versus $33 million in the same period last year.
The Company also reported record first quarter 2021 GAAP pre-tax net income of approximately $7.7 million, compared to pre-tax net loss of $2.1 million in the same period last year.  Fully diluted earnings per share, inclusive of tax expense, was $0.10 compared to a net loss in the same period last year. ....

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