---
schema_version: "secwatch.filing_event.v1"
accession: "0001546380-24-000005"
form_type: "8-K"
ticker: "SMG"
cik: "0000825542"
company_name: "SCOTTS MIRACLE-GRO CO"
filed_at: "2024-02-07T23:59:59+00:00"
generated_at: "2026-06-06T07:31:02.697420+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 $1.42/sh; sales down 22%; reaffirms FY24 EBITDA $575M

## Summary
- Q1 net loss $80.5M ($1.42 GAAP loss/sh); non-GAAP loss $1.45/sh vs. $1.02 loss a year ago.
- Total sales $410.4M (-22% YoY); U.S. Consumer -17%, Hawthorne -39% amid hydroponic industry pressure.
- Reaffirms full-year non-GAAP adj. EBITDA $575M, free cash flow $560M, and 250 bps gross margin improvement.
- Average net debt to adj. EBITDA leverage 7.20x, within covenant max of 8.25x; covenant steps down to 7.75x in Q2.
- Project Springboard savings exceeded $300M target; expects 80% of incremental savings by fiscal year-end.

## SEC filing metadata
- accession: 0001546380-24-000005
- form_type: 8-K
- ticker: SMG
- cik: 0000825542
- company_name: SCOTTS MIRACLE-GRO CO
- filed_at: 2024-02-07T23:59:59+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/825542/000154638024000005/0001546380-24-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/825542/000154638024000005/smg-20240207.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001546380-24-000005
- JSON: https://secwatch.observer/filing/0001546380-24-000005.json
- Plain text: https://secwatch.observer/filing/0001546380-24-000005.txt

## Key facts
- Earnings Releases
  SCOTTS MIRACLE-GRO CO reported the first quarter ended December 30, 2023 results: revenue $410.4 million, net income GAAP net loss of $80.5 million, or $1.42 per share, EPS $1.42 per share. Guidance reaffirmed.
  - Period: the first quarter ended December 30, 2023
  - Revenue: $410.4 million
  - Net income: GAAP net loss of $80.5 million, or $1.42 per share
  - EPS: $1.42 per share
  - Guidance: reaffirmed
  - Result: reported results
  source text: positive in fiscal 2024 and a major contributor to our debt paydown.” First Quarter Details For the quarter ended December 30, 2023, total Company sales declined 22 percent to $410.4 million from $526.6 million a year ago. Due to seasonality, the first quarter typically represents less than 15 percent of full-year sales. U.S. Consumer net sales decreased 17 percent
  evidence_url: https://www.sec.gov/Archives/edgar/data/825542/000154638024000005/0001546380-24-000005-index.htm

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