As we mentioned previously, during the month of November, most indoor farming stocks will publish their third-quarter results which will be prevalent for the future of certain of these companies on the public markets as today 3 are at risk of getting de-listed.
As of now, these are the upcoming financial results release dates:
- AppHarvest is to be released on Monday, November 7, 2022
- HydroFarm Holdings will release its results on November 9, 2022
- Scotts Miracle-Gro will announce its fourth-quarter results on November 2nd 2022
These result dates are subject to change as companies announce the release date.
During the previous quarter, most indoor farming publicly-traded companies have had contrasting results with some beating expectations and others announcing worse-than-expected results.
Publicly-traded companies are making efforts to make their business model more efficient, increase their production output and decrease their operating/ incremental expenses. The effects of these efforts will be seen from the fourth quarter of 2022 onwards as most facilities will be operating at full capacity and cost reduction measures would have their first effect on the financial results of the indoor farming companies.
Beyond the financial matter, companies are also increasing sustainable solutions relying on greener energy sources and decreasing the energy consumptions of their product.
Nonetheless, the current macro-events led certain indoor farming stocks to plunge by over 80% in the past 3 months reaching all-time lows despite encouraging announcements with the opening of new facilities, new partnerships furthering their retail presence, and better performances compared to previous quarters.
During the second quarter, most companies revised their full-year guidance to lower levels given the current supply chain disruptions as well as the inflation affecting their profitability margins.
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