secwatch.observer — SEC 8-K summary
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Issuer:     SCOTTS MIRACLE-GRO CO (SMG)
CIK:        0000825542
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001546380-23-000011
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Scotts Miracle-Gro Q2 GAAP EPS $1.94, adj. EPS $3.78; revenue down 9% YoY; leverage at 6.0x
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/825542/000154638023000011/0001546380-23-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/825542/000154638023000011/smg-20230503.htm
  HTML page:      https://secwatch.observer/filing/0001546380-23-000011

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