Scotts Miracle-Gro reports Q4 GAAP loss of $3.97/share; launches Project Springboard 2.0 for $85M in cost cuts

SCOTTS MIRACLE-GRO CO

2022-FY EPS reported -$7.88 revenue$3,924,100,000

Q4 sales fell 33% to $493.6M; U.S. Consumer -18%, Hawthorne -49%.
GAAP loss from continuing operations $220.1M ($3.97/share); adjusted loss $2.04/share.
Full-year sales $3.92B (-20% vs FY 2021); GAAP net loss $437.5M vs income $517.3M prior year.
Free cash flow negative $242.5M in FY 2022; debt/EBITDA ratio 6.0x.
FY 2023 guidance: low single-digit adj. operating income growth; targets $1B FCF over 2 years.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.8

SCOTTS MIRACLE-GRO CO reported financial results for the three and twelve months ended September 30, 2022.

Period: the three and twelve months ended September 30, 2022
Result: reported results

Exact text from the filing

On November 2, 2022, Scotts Miracle-Gro issued a news release reporting information regarding its financial results for the three and twelve months ended September 30, 2022 and its financial condition as of September 30, 2022.

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Source: SEC EDGAR

accession 0001546380-22-000028

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