{"schema_version":"secwatch.filing_event.v1","accession":"0001546380-23-000011","form_type":"8-K","ticker":"SMG","cik":"0000825542","company_name":"SCOTTS MIRACLE-GRO CO","filed_at":"2023-05-03T23:59:59+00:00","discovered_at":"2026-05-14T18:03:42.369515+00:00","generated_at":"2026-06-16T02:03:45.878133+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Scotts Miracle-Gro Q2 GAAP EPS $1.94, adj. EPS $3.78; revenue down 9% YoY; leverage at 6.0x","bullets":["GAAP EPS $1.94, adjusted EPS $3.78; prior year GAAP $4.94, adj. $5.03.","Company-wide sales $1.53B (-9%); U.S. Consumer -2% to $1.36B; Hawthorne -54% to $93M.","Net leverage ratio 6.0x (covenant 6.5x); guidance cut: adj. operating income down mid-single-digit %.","Project Springboard on track to deliver >$200M annualized savings by fiscal year-end.","Hawthorne restructuring: closure of 4 distribution centers; $141M pre-tax restructuring charges."],"urls":{"canonical":"https://secwatch.observer/filing/0001546380-23-000011","json":"https://secwatch.observer/filing/0001546380-23-000011.json","markdown":"https://secwatch.observer/filing/0001546380-23-000011.md","text":"https://secwatch.observer/filing/0001546380-23-000011.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/825542/000154638023000011/0001546380-23-000011-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/825542/000154638023000011/smg-20230503.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T02:03:45.878133+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"00876c9b8885f311677c738582ea887b355eed3a","claim":"SCOTTS MIRACLE-GRO CO reported fiscal second quarter ended April 1, 2023 results: revenue $1.53 billion, net income $109.4 million, EPS $1.94 per diluted share. Guidance lowered.","evidence_excerpt":"For the quarter ended April 1, 2023, company-wide sales decreased 9 percent to $1.53 billion. U.S. Consumer segment sales decreased 2 percent to $1.36 billion, from a record $1.38 billion last year. Hawthorne segment sales decreased 54 percent to $93 million, compared with $203 million during the same period a year ago, reflecting the continued challenges in the hydroponic industry. January - March 2023 Net Sales Drivers (1) Volume & Mix Foreign Exchange Price Other (2) Net Sales U.S. Consumer (11)% 0% 9% 0% (2)% Hawthorne (60)% 0% 6% 0% (54)% Other (11)% (6)% 2% 0% (15)% Total SMG (17)% 0% 8% 0% (9)% (1) Net Sales percentage changes are approximations based on quantitative formulas that are consistently applied (2) Other includes the impact of acquisitions and divestitures GAAP and non-GAAP adjusted gross margin rates for the quarter were 26.9 percent and 34.7 percent, respectively. The GAAP and non-GAAP gross margin rates were 35.1 percent and 35.4 percent, respectively, in the secon","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/825542/000154638023000011/0001546380-23-000011-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"fiscal second quarter ended April 1, 2023"},{"label":"Revenue","value":"$1.53 billion"},{"label":"Net income","value":"$109.4 million"},{"label":"EPS","value":"$1.94 per diluted share"},{"label":"Guidance","value":"lowered"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}