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The Scotts Miracle-Gro Co. (NYSE:SMG) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.5%.
The Scotts Miracle-Gro Co. Earnings Cheat Sheet
Results: Net loss decreased -7.58% to $68.3 million ($1.12 per diluted share) in the quarter versus a net loss of $73.9 million in the year-earlier quarter.
Revenue: Decreased 2.56% to $205.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: The Scotts Miracle-Gro Co. reported adjusted net loss of $1.12 per share. By that measure, the company missed the mean analyst estimate of $0. It beat the average revenue estimate of $199.65 million.
Quoting Management: “Our immediate focus is to leverage our cost structure with an eye toward margin improvement, reduced SG&A and improved cash flow,” said CEO, James Hagedorn. “And we are taking a balanced approach in how we invest for long-term growth. I am confident in the plan we have put in place and believe our shareholders will begin to see significant improvement starting in the second half of the year.”
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