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Apr 02, 2022
Scotts Q2 2022 Earnings Report
ScottsMiracle-Gro reported a decrease in company-wide sales due to decline in Hawthorne sales, which was offset by record second quarter sales in its U.S. Consumer segment.
Key Takeaways
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.
GAAP EPS: $4.94 versus $5.44; non-GAAP adjusted EPS of $5.03 versus $5.64
Consumer POS down 12% entering May with increasing momentum in most markets
Sales outlook for U.S. Consumer and Hawthorne adjusted to low end of guidance
Productivity enhancement efforts launched to reduce costs, improve margins
Scotts
Scotts
Scotts Revenue by Segment
Revenue by Segment
U.S. Consumer Segment Revenue
CapyFin.comHawthorne Segment Revenue
CapyFin.comOther Segment Revenue
CapyFin.com Forward Guidance
The Company said its previous guidance of $8 or more of non-GAAP adjusted earnings per share is likely unattainable. Management currently expects to provide an update to the investment community the week of June 6, 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income