earnings
confidence high
sentiment negative
materiality 0.85
Scotts Miracle-Gro Q3 sales down 26%; GAAP EPS loss of $8.01; cuts FY guidance
SCOTTS MIRACLE-GRO CO
2022-Q3 EPS reported
-$3.91
revenue$3,430,400,000
- Company-wide Q3 sales $1.19B (-26% YoY); U.S. Consumer -14%, Hawthorne -63%.
- GAAP net loss per share $8.01 includes $724M pre-tax impairment; non-GAAP adj. EPS $1.98.
- Launches Project Springboard to strengthen balance sheet, improve margins and cash flow.
- Full-year adjusted EPS guidance lowered to $4.00-$4.20; U.S. Consumer sales expected down 8-9%.
- Debt-to-EBITDA at 5.1x; target to reduce to 3.5x within 24 months.