Restructuring Plan Pays Off For Ancillary Cannabis Co. Despite YoY Net Sales Drop In Q4
Restructuring Plan Pays Off For Ancillary Cannabis Co. Despite YoY Net Sales Drop In Q4
Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) announced its financial results Thursday for the fourth quarter and full year ended Dec. 31, 2023, revealing a 23% year-over-year drop to $47.2 million in net sales.
水電農場控股集團有限公司（納斯達克股票代碼：HYFM）週四公佈了截至2023年12月31日的第四季度和全年財務業績，顯示淨銷售額同比下降23％，至4,720萬美元。
"Successful execution of our restructuring plan and related cost savings efforts throughout the year enabled us to deliver positive Adjusted EBITDA and Free Cash Flow in 2023," said Bill Toler, chairman and CEO of the Pennsylvania-based company.
這家總部位於賓夕法尼亞州的公司董事長兼首席執行官比爾·托勒表示：“全年成功執行我們的重組計劃和相關的成本節約措施使我們能夠在2023年實現正的調整後息稅折舊攤銷前利潤和自由現金流。”
Q4 2023 Financial Highlights
2023 年第四季度財務摘要
- Net sales decreased to $47.2 million compared to $61.5 million in the prior year's period.
- Gross profit increased to $8.4 million compared to a gross loss of $0.5 million in the fourth quarter of 2022.
- Gross profit margin increased to 17.9% of net sales compared to a negative profit margin of 0.8%.
- Adjusted gross profit increased to $11.5 million compared to $9 million.
- Adjusted gross profit margin grew to 24.3% of net sales compared to 14.7%.
- Net loss improved to $15.2 million compared to net loss of $35.3 million.
- Adjusted EBITDA came in negative at $0.6 million compared to a negative adjusted EBITDA of $8.4 million. In the prior year's period, representing a year-over-year improvement of 92%.
- 淨銷售額從去年同期的6150萬美元降至4,720萬美元。
- 毛利增至840萬美元，而2022年第四季度的總虧損爲50萬美元。
- 毛利率增至淨銷售額的17.9％，而負利潤率爲0.8％。
- 調整後的毛利從900萬美元增至1150萬美元。
- 調整後的毛利率增長至淨銷售額的24.3％，而這一比例爲14.7％。
- 淨虧損增至1,520萬美元，而淨虧損爲3530萬美元。
- 調整後的息稅折舊攤銷前利潤爲負60萬美元，而調整後的息稅折舊攤銷前利潤爲負840萬美元。在上一年中，同比增長了92％。
See also: Restructuring Efforts Yield Results For Cannabis-Focused Agriculture Equipment Maker Despite 27% YoY Revenue Drop In Q3
另見：儘管第三季度收入同比下降27％，但以大麻爲重點的農業設備製造商的重組工作還是取得了成果
FY 2023 Financial Highlights
2023 財年財務亮點
- Net sales decreased to $226.6 million compared to $344.5 million in fiscal 2022.
- Gross profit increased to $37.6 million compared to $29.3 million in the prior period.
- Gross profit margin increased to 16.6% of net sales compared to 8.5% in the previous year.
- Adjusted gross profit increased to $55 million compared to $48.2 million in 2022.
- Adjusted gross profit margin increased to 24.3% of net sales compared to 14% in 2022.
- Net loss improved to $64.8 million compared to net loss of $285.4 million in the previous year.
- Adjusted EBITDA came in positive at $0.3 million compared to a negative adjusted EBITDA of $21.2 million in the prior year.
- Cash from operating activities was $7 million and free cash flow was $2.8 million.
- 淨銷售額從2022財年的3.445億美元降至2.266億美元。
- 毛利從上一時期的2930萬美元增至3,760萬美元。
- 毛利率佔淨銷售額的16.6％，而去年同期爲8.5％。
- 調整後的毛利從2022年的4,820萬美元增至5,500萬美元。
- 調整後的毛利率增至淨銷售額的24.3％，而2022年爲14％。
- 淨虧損增至6,480萬美元，而去年的淨虧損爲2.854億美元。
- 調整後的息稅折舊攤銷前利潤爲正數，爲30萬美元，而去年調整後的息稅折舊攤銷前利潤爲負2,120萬美元。
- 經營活動產生的現金爲700萬美元，自由現金流爲280萬美元。
Now read: Majority Of Marijuana Growers Feel 'Terrible' Or 'Bad' About Current Market Situation, Finds Wells Fargo Survey
立即閱讀：富國銀行調查發現，大多數大麻種植者對當前的市場形勢感到 “糟糕” 或 “糟糕”
HYFM Price Action
HYFM 價格行動
Hydrofarm's shares traded 3.63% lower at $0.85 per share during the pre-market session on Thursday morning.
在週四上午的盤前交易中，Hydrofarm的股價下跌3.63％，至每股0.85美元。
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
本辛加大麻資本會議將於2024年4月16日和17日在佛羅里達州好萊塢的新地點重返佛羅里達州。在外交官海灘度假村舉行的爲期兩天的活動將爲大小企業家提供交流、學習和成長的機會。這次會議以其引領潮流的能力和對大麻未來的影響而聞名，記住你的日曆——這是大麻界年度必去的活動。
Get your tickets now on bzcannabis.com – Prices will increase very soon!
立即購買門票 bzcannabis.com — 價格很快就會上漲！
譯文內容由第三人軟體翻譯。