Visit the GrowGeneration Investor Dashboard and stay up to date with data-driven, fact based due diligence for active traders and investors.
In an 8-K filing after the close, GrowGeneration (OTC: GRWG) shared a copy of slides that will be presented at the ROTH Conference in Dana Point, CA over the next few days. The company provided substantial new information about its operations, but one of the most interesting slides detailed its outlook for revenue and EBITDA over the next three years. The wholesale distributor of hydroponic grow supplies expects to produce sales of almost $85 million in 2020 and increased its 2018 guidance from $30 million to $37 million:
The company revealed that it intends to spend over $20 million in acquisitions this year and has made already $15 million in acquisitions since its inception in 2014, including three generating $9 million annual revenue so far this year. GrowGeneration explained its acquisition model, suggesting that each $1 million of capital invested yields about $3 million in annual sales.
GrowGeneration has operations presently in Colorado, California, Nevada, Washington and Rhode Island, and it is looking to expand into Oregon, Arizona, Florida and several states in the Midwest and the East Coast, with a near-term focus on Oregon, Michigan, Massachusetts and further into California.
The most reliable, fact-based information on GrowGeneration found only on its Investor Dashboard.
Before this cannabis stock news is here, it’s published to subscribers on 420 Investor.