The Scotts Miracle-Gro Co. (NYSE:SMG) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
The Scotts Miracle-Gro Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 25.58% to $1.60 in the quarter versus EPS of $2.15 in the year-earlier quarter.
Revenue: Decreased 13.08% to $1.02 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: The Scotts Miracle-Gro Co. reported adjusted EPS income of $1.60 per share. By that measure, the company missed the mean analyst estimate of $2.00. It missed the average revenue estimate of $1.13 billion.
Quoting Management: “Although the weather presented obvious challenges in March, the resilience of the lawn and garden category and the strength of our brands became evident as soon as the season broke at the beginning of April,” said Jim Hagedorn, chairman and chief executive officer. “Consumer purchases of our products in the U.S., which were down more than 25 percent on a fiscal year-to-date basis entering April, are down 9 percent through May 5 after five consecutive weeks of strong year-over-year growth.”
Key Stats (on next page)…