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Dec 28, 2024
Scotts Q1 2025 Earnings Report
ScottsMiracle-Gro's first quarter results were reported, indicating a strong position for the 2025 lawn and garden season.
Key Takeaways
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.
U.S. Consumer net sales increased 11 percent driven by strong fall lawn and garden campaign and retailer support for 2025 spring season.
Consumer POS was up 12 percent in dollars and 13 percent in units.
GAAP gross margin rate of 22.7 percent improved 750 bps; Non-GAAP adjusted gross margin rate of 24.0 percent improved 1,030 bps.
Non-GAAP Adjusted EBITDA of $4 million reflected $30 million improvement.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company reaffirms the non-GAAP fiscal 2025 guidance for key elements of non-GAAP adjusted EBITDA provided last quarter and lowers expected interest expense.
Positive Outlook
- U.S. Consumer net sales low single-digit growth (excluding non-repeat sales for AeroGarden and bulk raw material sales)
- Non-GAAP adjusted gross margin of approximately 30 percent
- Hawthorne net sales mid-single digit decrease
- Non-GAAP adjusted EBITDA of $570 million to $590 million
- Interest expense $15 million to $20 million lower than prior year, previously a $10 million decrease
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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