Scotts Miracle-Gro's (SMG) Q1 performance reflects lower sales in the Hawthorne segment resulting from the weakness in the hydroponic industry and lower production volumes in the U.S. Consumer unit.
Scotts (SMG) delivered earnings and revenue surprises of 27.14% and 4.59%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
U.S. Consumer Sales Up 8 Percent YoY First Quarter GAAP Loss of $1.17 Per Share; non-GAAP Loss of $1.02 Per Share Project Springboard to Exceed $185 Million Annualized Savings Net Leverage Ratio Within Covenant at 5.9X Full-Year Sales Guidance Updated for Lower Hawthorne Outlook $1 Billion Free Cash Flow Target Over Next Two Years Reaffirmed MARYSVILLE, Ohio, Feb. 01, 2023 (GLOBE NEWSWIRE) -- The Scotts Miracle-Gro Company (NYSE: SMG), the world’s leading marketer of branded consumer lawn and ga