Scotts Earnings Reports

Scotts Miracle-Gro delivered strong financial performance in the third quarter of fiscal 2025, with significant improvements in gross margin and U.S. Consumer net sales. The company's GAAP and non-GAAP adjusted earnings per share increased, and non-GAAP adjusted EBITDA saw a notable rise, reinforcing confidence in achieving full-year guidance.

ScottsMiracle-Gro reported a decrease in total company sales for the second quarter of fiscal 2025, primarily due to a colder start to the lawn and garden season and non-repeating sales from the prior year. However, the company saw significant improvement in both GAAP and non-GAAP adjusted gross margins, driven by lower costs and better product mix. This margin recovery led to an increase in non-GAAP adjusted EBITDA and a substantial improvement in net income compared to the prior year. The company reaffirmed its full-year guidance for the U.S. Consumer segment, adjusted gross margin, adjusted EBITDA, and free cash flow.

ScottsMiracle-Gro reported a slight increase in total company sales, driven by an 11% increase in U.S. Consumer net sales. The company reaffirms its full-year sales, adjusted gross margin, and adjusted EBITDA guidance and lowers interest expense guidance.

ScottsMiracle-Gro reported an 11% increase in total company net sales for the fourth quarter, driven by a 54% increase in U.S. Consumer net sales. However, Hawthorne segment sales decreased by 46%. The company reported a GAAP net loss of $244.0 million, an improvement from the prior year's loss of $468.4 million.

Scotts Miracle-Gro reported a 7% increase in total company sales to $1.2 billion for the third quarter ended June 29, 2024. The U.S. Consumer segment saw an 11% increase in net sales, while the Hawthorne segment experienced a 28% decrease. GAAP EPS was $2.28, and non-GAAP adjusted EPS nearly doubled to $2.31.

ScottsMiracle-Gro reported approximately flat total company sales at $1.53 billion. The U.S. Consumer net sales increased by 2% to $1.38 billion, equaling a record high. The company reaffirms its previously announced non-GAAP fiscal 2024 guidance.

ScottsMiracle-Gro reported a 22% decrease in total company sales, amounting to $410.4 million, for the quarter ended December 30, 2023. The U.S. Consumer net sales decreased by 17%, while the Hawthorne segment experienced a 39% decline. The company reported a GAAP net loss of $80.5 million, or $1.42 per share, and a non-GAAP adjusted loss of $82.2 million, or $1.45 per share. Despite the sales decline, ScottsMiracle-Gro reaffirmed its full-year non-GAAP adjusted gross margin improvement of 250 bps and adjusted EBITDA of $575 million.

ScottsMiracle-Gro reported a 24% decrease in company-wide sales for the quarter ended September 30, 2023. The U.S. Consumer segment saw a 33% sales decline, while the Hawthorne segment decreased by 11%. The company experienced a GAAP net loss of $468.4 million, or $8.33 per share, and a non-GAAP adjusted loss of $155.4 million, or $2.77 per share.

ScottsMiracle-Gro's third-quarter net sales decreased by 6% due to a 40% decline in the Hawthorne segment, although U.S. Consumer net sales increased by 1%. The company is focusing on expense reduction, cash flow improvement, and debt paydown, with expectations of achieving $1 billion in cash flow by the end of fiscal '24. Full-year sales and Adjusted EBITDA are expected to decline.

ScottsMiracle-Gro reported a decrease in company-wide sales by 9 percent to $1.53 billion. U.S. Consumer segment sales decreased 2 percent to $1.36 billion. The company reported GAAP income of $1.94 per diluted share and non-GAAP adjusted earnings of $3.78 per diluted share.

ScottsMiracle-Gro reported a 7% decrease in total company sales to $527 million, driven by a 31% decline in Hawthorne segment sales, while U.S. Consumer sales increased by 8%. The company's GAAP loss was $1.17 per share, with a non-GAAP adjusted loss of $1.02 per share. Project Springboard is expected to deliver $185 million of annualized savings in fiscal 2023.

ScottsMiracle-Gro announced Q4 2022 results with sales declining by 33 percent, driven by decreases in both major business segments. The company reported a GAAP loss of $3.97 per share and a non-GAAP adjusted loss of $2.04 per share. Project Springboard achieved $100 million in annualized cost savings, and Project Springboard 2.0 was launched to target an additional $85 million in cost reductions.

Scotts Miracle-Gro's third quarter sales decreased by 26% due to declines in both the Hawthorne and U.S. Consumer segments. The company reported a GAAP net loss per share of $8.01, which includes pre-tax impairment and restructuring charges of $724.2 million. Non-GAAP adjusted earnings per share was $1.98. The company announced Project Springboard to improve financial performance.

ScottsMiracle-Gro announced record second quarter sales in its U.S. Consumer segment, but this growth was offset by a decline in Hawthorne sales, leading to an overall decrease in company-wide sales. The company's GAAP earnings per share were $4.94, while non-GAAP adjusted earnings per share were $5.03. The company has adjusted its sales outlook for both U.S. Consumer and Hawthorne to the low end of guidance.

ScottsMiracle-Gro reported a decrease in company-wide sales by 24% to $566.0 million, consistent with pre-announced expectations. The U.S. Consumer segment exceeded expectations, while Hawthorne sales declined due to market conditions. The company increased full-year sales guidance for the U.S. Consumer segment.