Business
Hydrofarm Holdings Group Releases Growth Outlook for Fiscal 2021 as Controlled Environment Agriculture Market Continues to Expand
Company to Participate at the Truist 2021 Consumer Symposium on February 24, 2021 PETALUMA, Calif., Feb. 24, 2021 (GLOBE NEWSWIRE) -- Hydrofarm Holdings
About this update from Hydrofarm Holdings Group, Inc.
[{"type":"text","content":"Company to Participate at the Truist 2021 Consumer Symposium on February 24, 2021\nPETALUMA, Calif., Feb. 24, 2021 (GLOBE NEWSWIRE) -- Hydrofarm Holdings Group, Inc. (“Hydrofarm”) (Nasdaq: HYFM), a leading independent distributor and manufacturer of hydroponics equipment and supplies for controlled environment agriculture, announced that it now expects at least 20% organic topline growth for the fiscal year ending December 31, 2021 as compared to fiscal 2020. The announcement comes as part of the Company’s presentation to investors at the Truist 2021 Consumer Symposium. Bill Toler, Chief Executive Officer and Chairman of Hydrofarm, commented, “I continue to be impressed with the momentum of our business in the months since our public offering. In light of our sales trajectory experienced thus far in the first quarter, we now expect to achieve full-year organic topline growth of at least 20% during fiscal 2021 as compared to fiscal 2020.” “With our innovative solutions, differentiated brands, and gold standard service, Hydrofarm remains uniquely positioned to capitalize on the tremendous long-term opportunity presented by the Controlled Environment Agriculture market and to capture the rapid growth ahead,” he added. The Company expects to report financial results for its fourth quarter full fiscal year ended December 31, 2020 during the last week of March 2021. Conference ParticipationThe Company will participate in a virtual fireside chat discussion at the Truist 2021 Consumer Symposium on Wednesday, February 24, 2021. Hydrofarm’s discussion will begin at 10:00 AM Eastern Time and will be webcast live Hydrofarm’s website. To access the webcast, please visit hydrofarm.com under the “Investors” tab. About Hydrofarm Holdings Group, Inc.Hydrofarm is a leading independent distributor and manufacturer of hydroponics equipment and supplies for controlled environment agriculture, including high-intensity grow lights, climate control solutions, and growing media, as well as a broad portfolio of innovative and proprietary branded products. For over 40 years, Hydrofarm has helped growers make growing easier and more productive. The Company’s mission is to empower growers, farmers and cultivators with products that enable greater quality, efficiency, consistency and speed in their grow projects. Cautionary Note Regarding Forward-Looking Sta...