GrowGeneration (GRWG) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
DENVER--(BUSINESS WIRE)--GrowGeneration Corp. (NASDAQ: GRWG) (“GrowGen” or the “Company”), one of the largest retailers and distributors of specialty hydroponic and organic gardening products in the United States, today issued the following letter to shareholders commenting on the Company's 2024 accomplishments, preliminary full year 2024 results and expectations and other operational updates from its Co-Founder and Chief Executive Officer Darren Lampert. Dear Fellow Shareholders, 2024 was a ye.
The cannabis industry specifically in the USA is still facing an uphill battle. There are many parts to this battle the main focus being better laws and regulations. Right now Florida is fighting for recreational cannabis along with the last several states soon to vote on cannabis legislation and decriminalizing the plant. The growth and acceptance of legal cannabis have come a long way.
The cannabis sector is in a bear market, but GrowGeneration is a Strong Buy at its current depressed valuation, trading below tangible book value. Insiders have been buying, and the potential elimination of 280E taxation could significantly boost GRWG's adjusted EBITDA and stock price. GRWG's low price relative to tangible book value and its debt-free status with substantial cash provide a cushion against downside risk.
The cannabis industry continues to grow and shows why people should be finding ways to invest. Now marijuana stocks for some time have been one of the tougher sectors to pull consistent profits from. There is a lack of continuous momentum and when there is it is often due to politics on cannabis reform. Other factors that help the sector build better momentum is when companies report strong earnings. When people can see that a company is thriving it entices them to invest looking further into marijuana stocks.
GrowGeneration stock is a Strong Buy due to positive same-store sales and insider buying, despite revenue decline and increased operating loss. Analysts are cautious, projecting flat or declining revenue, but management's stock purchases show confidence. Valuation is attractive, with GRWG trading below tangible book value and potential upside if adjusted EBITDA improves.
GRWG expects revenues between $190 million and $195 million for 2024.
GrowGeneration (GRWG) came out with a quarterly loss of $0.19 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to loss of $0.12 per share a year ago.
DENVER--(BUSINESS WIRE)--GrowGeneration Corp. (NASDAQ: GRWG) (“GrowGen” or the “Company”), one of the largest retailers and distributors of specialty hydroponic and organic gardening products in the United States, today announced it will release its financial results for the third quarter ended September 30, 2024 on Tuesday, November 12, 2024 after market close. The announcement will be followed by a live earnings conference call at 4:30 p.m. ET. To participate in the call, please dial 1-(888)-.
More cannabis companies are preparing to report earnings, and this could be big for the sector. There has been an increase in people investing in marijuana stocks. The reason is that it is the easiest way to be part of the industry without all the heavy lifting. You do not need to start a company and go into production. The ability for cannabis companies to be publicly traded gives people the opportunity to find top marijuana stocks to buy. The amount of growth and progress that occurred over the last several years is only proving why legal cannabis should have been established long ago.