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GrowGeneration Slips 11% As FY21 Revenue Outlook Misses Estimates

Shares of organic garden centers chain GrowGeneration Corp. (GRWG) are down 11 percent on Thursday's trading with the company's projected 2021 revenue outlook coming in below market expectations.

The company announced full-year 2021 revenue expectations of $420 million to $422 million, a 118 percent rise from $193 million for 2020. On average, 9 analysts polled by Thomson Reuters expect the company to earn $437.6 million in the year ahead.

The fourth quarter revenue expectation is between $88 million to $90 million. Same-store-sales for 2021 is expected to grow 24.4 percent for the full year and decline by 12.3 percent for the fourth quarter.

Currently at $9.87, the stock has traded between $9.82 and $67.75 during the past 52 weeks.

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