GrowGeneration Corp (GRWG) released its first quarter results on Thursday, May 13, 2021. The company reported net earnings of $0.10 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 281 percent compared to the same period a year ago.
The company was formerly known as Easylife Corp. GrowGeneration Corp. was founded in 2008 and is headquartered in Denver, Colorado. GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. It engages in the marketing and distribution of horticultural, organics, and lighting and hydroponics products, including lighting fixtures, nutrients, seeds and growing media, systems, trays, fans, filters, humidifiers and dehumidifiers, timers, instruments, water pumps, irrigation supplies, and hand tools.
GrowGeneration's revenue increased 151 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 28.19% for the first quarter compared to the same period in the previous year, and operating margins increased to 8.59% over the same period. Net earnings for past trailing twelve months were $13.57 million, up 3155% from the prior year.
Moving on to the balance sheet, GrowGeneration's cash levels jumped 704% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 84.97% this past year. The current ratio for GrowGeneration now stands at 5.24. The company increased shares outstanding by 54.98%.
Shares of GRWG are currently trading around $35.53. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 139.99 and price to book ratio of 6.13.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Friday, May 14, 2021.