The Scotts Miracle-Gro Co. (NYSE:SMG) delivered a profit and beat Wall Street’s expectations, BUT 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 increased 53.75% to $2.46 in the quarter versus EPS of $1.60 in the year-earlier quarter.
Revenue: Rose 8.08% to $1.15 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: The Scotts Miracle-Gro Co. reported adjusted EPS income of $2.46 per share. By that measure, the company beat the mean analyst estimate of $2.43. It missed the average revenue estimate of $1.17 billion.
Quoting Management: “The level of consumer engagement we’ve seen since April has erased the deficit we had after a slow break to the season in March,” said chairman and chief executive officer Jim Hagedorn. “In each area of the business, our team has done an outstanding job executing our plan this year. With less than two months remaining in our fiscal year, we now feel comfortable projecting that our full-year earnings should be at the mid-point of our guidance of $2.50 to $2.75 per share.”
Key Stats (on next page)…