Nov 07, 2024 / 01:30PM GMT
B. John Lindeman - Hydrofarm Holdings Group Inc - Chief Financial Officer
Consumable products. Once again, made up more than three quarters of our total sales, outperforming durables, consumable products comprised approximately 79% of our total sales in Q3. An increase compared to last year overall brand mix with solid during Q3 as our proprietary brands represented 56% of our total net sales compared to 54% in the prior year period.
Importantly, even with our proprietary, even within our proprietary brand bucket, we sold a greater mix of our higher margin brands compared to last year.
Gross profit in the third quarter was $8.5 million or 19.4% of net sales compared to $3.3 million or 6.1% of net sales in the year ago period, adjusted gross profit was $10.7 million or 24.3% of net sales compared to $12.5 million or 23% of net sales last year.
The 130 basis point increase is primarily due to a better mix of our higher margin, proprietary branded sales in the quarter and increased productivity within select manufacturing facilities.
We also recorded no significant
Q3 2024 Hydrofarm Holdings Group Inc Earnings Call Transcript
6 days ago
Already have an account? Log in
Get the full story
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent 
4.6 out of 5 
Trustpilot
Trustpilot
Survey
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
Follow Us
Disclaimers