---
schema_version: "secwatch.filing_event.v1"
accession: "0001546380-23-000004"
form_type: "8-K"
ticker: "SMG"
cik: "0000825542"
company_name: "SCOTTS MIRACLE-GRO CO"
filed_at: "2023-02-01T23:59:59+00:00"
generated_at: "2026-06-20T04:27:59.147440+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Scotts Miracle-Gro Q1 GAAP loss $1.17/sh; U.S. Consumer +8%, Hawthorne -31%; guidance updated

## Summary
- GAAP net loss $64.7M ($1.17/sh); non-GAAP adj. loss $1.02/sh vs year-ago loss $0.90/sh.
- Total company sales $526.6M, down 7% YoY; U.S. Consumer +8% to $369M, Hawthorne -31% to $131.5M.
- Project Springboard on track for $185M annualized FY23 savings; SG&A down 17% to $128.5M.
- Net leverage ratio 5.9x within 6.25x covenant; FY23 outlook: low single-digit sales decline, interest expense up ~$60M.
- Free cash flow target of $1B over two years reaffirmed; Hawthorne guidance cut to 20-30% sales decline.

## SEC filing metadata
- accession: 0001546380-23-000004
- form_type: 8-K
- ticker: SMG
- cik: 0000825542
- company_name: SCOTTS MIRACLE-GRO CO
- filed_at: 2023-02-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/825542/000154638023000004/0001546380-23-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/825542/000154638023000004/smg-20230201.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001546380-23-000004
- JSON: https://secwatch.observer/filing/0001546380-23-000004.json
- Plain text: https://secwatch.observer/filing/0001546380-23-000004.txt

## Key facts
- Earnings Releases
  SCOTTS MIRACLE-GRO CO reported fiscal first quarter ended December 31, 2022 results: revenue $526.6 million, net income GAAP loss of $64.7 million, EPS $1.17 per share.
  - Period: fiscal first quarter ended December 31, 2022
  - Revenue: $526.6 million
  - Net income: GAAP loss of $64.7 million
  - EPS: $1.17 per share
  - Result: reported results
  source text: on the hydroponic industry as a whole, the smaller Hawthorne segment sales decreased 31 percent versus prior year. Total Company sales declined 7 percent in the quarter to $527 million. Due to seasonality, the first quarter typically represents less than 15 percent of full year sales. Both phases of Project Springboard are now expected to deliver $185 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/825542/000154638023000004/0001546380-23-000004-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.