GrowGeneration shares sink on revenue view

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GrowGeneration Corp. GRWG, -6.71% shares fell 12% in premarket trades on Thursday after the hydroponic gardening retailer said it expects 2021 revenue of $435 million to $440 million, short of the analyst target of $448.4 million. The company reported third-quarter net income of $4 million, or 7 cents a share, up from $3.3 million, or 6 cents a share, in the year-ago quarter. Adjusted Ebitda rose to 18 cents a share from 13 cents a share. Revenue increased 111% to $116 million. Analysts were looking for earnings of 9 cents a share and revenue of $114.8 million, according to a FactSet Survey.

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