---
schema_version: "secwatch.filing_event.v1"
accession: "0001546380-24-000021"
form_type: "8-K"
ticker: "SMG"
cik: "0000825542"
company_name: "SCOTTS MIRACLE-GRO CO"
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T03:35:34.394619+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# ScottsMiracle-Gro Q2 GAAP EPS $2.74, adj. EPS $3.69; reaffirms FY2024 targets

## Summary
- Q2 net sales flat at $1.53B; U.S. Consumer record $1.38B (+2% YoY); Hawthorne down 28% to $66.4M.
- GAAP gross margin 30.4% (up 350 bps YoY); adjusted gross margin 35.3% (up 60 bps).
- GAAP net income $157.5M vs $109.4M; non-GAAP adjusted EPS $3.69 vs $3.78 prior year.
- Net leverage ratio 6.95x, below covenant max 7.75x; covenant steps down to 6.50x in Q3.
- Reaffirms FY2024 guidance: adj. EBITDA $575M, free cash flow $560M; >80% of $100M Project Springboard savings expected by year-end.

## SEC filing metadata
- accession: 0001546380-24-000021
- form_type: 8-K
- ticker: SMG
- cik: 0000825542
- company_name: SCOTTS MIRACLE-GRO CO
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/825542/000154638024000021/0001546380-24-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/825542/000154638024000021/smg-20240501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001546380-24-000021
- JSON: https://secwatch.observer/filing/0001546380-24-000021.json
- Plain text: https://secwatch.observer/filing/0001546380-24-000021.txt

## Key facts
- Earnings Releases
  SCOTTS MIRACLE-GRO CO reported second quarter ended March 30, 2024 results: revenue U.S. Consumer net sales increased 2 percent to $1.38 billion from $1.36 billion in the same period last year, net income Non-GAAP adjusted net income for the quarter... was $211.9 million, or $3.69 per diluted share, EPS $3.69 per diluted share.
  - Period: second quarter ended March 30, 2024
  - Revenue: U.S. Consumer net sales increased 2 percent to $1.38 billion from $1.36 billion in the same period last year
  - Net income: Non-GAAP adjusted net income for the quarter... was $211.9 million, or $3.69 per diluted share
  - EPS: $3.69 per diluted share
  - Result: reported results
  source text: a position of strength and with a growth mindset.” Financial Results Second Quarter Details For the quarter ended March 30, 2024, total Company sales were approximately flat at $1.53 billion compared to a year ago. U.S. Consumer net sales increased 2 percent to $1.38 billion from $1.36 billion in the same period last year. U.S. Consumer segment favorability was
  evidence_url: https://www.sec.gov/Archives/edgar/data/825542/000154638024000021/0001546380-24-000021-index.htm
- Earnings Releases
  SCOTTS MIRACLE-GRO CO reported second quarter ended March 30, 2024 results: revenue U.S. Consumer net sales increased 2 percent to $1.38 billion from $1.36 billion in the same period last year, net income Non-GAAP adjusted net income for the quarter... was $211.9 million, or $3.69 per diluted share, EPS $3.69 per diluted share.
  - Period: second quarter ended March 30, 2024
  - Revenue: U.S. Consumer net sales increased 2 percent to $1.38 billion from $1.36 billion in the same period last year
  - Net income: Non-GAAP adjusted net income for the quarter... was $211.9 million, or $3.69 per diluted share
  - EPS: $3.69 per diluted share
  - Result: reported results
  source text: 2024. The news release is furnished herewith as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference. --- EX-99.1 (EXHIBIT 99.1) --- EX-99.1 2 exhibit991q2f24newsrelease.htm EXHIBIT 99.1 Document Exhibit 99.1 The Scotts Miracle-Gro Company NEWS ScottsMiracle-Gro Reports Second Quarter Results • Strong first half 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/825542/000154638024000021/0001546380-24-000021-index.htm
- Earnings Releases
  SCOTTS MIRACLE-GRO CO reported three and six months ended March 30, 2024 results: revenue total Company sales were approximately flat at $1.53 billion compared to a year ago, net income GAAP net income of $157.5 million, or $2.74 per diluted share, EPS $2.74 per diluted share.
  - Period: three and six months ended March 30, 2024
  - Revenue: total Company sales were approximately flat at $1.53 billion compared to a year ago
  - Net income: GAAP net income of $157.5 million, or $2.74 per diluted share
  - EPS: $2.74 per diluted share
  - Result: reported results
  source text: a position of strength and with a growth mindset.” Financial Results Second Quarter Details For the quarter ended March 30, 2024, total Company sales were approximately flat at $1.53 billion compared to a year ago. U.S. Consumer net sales increased 2 percent to $1.38 billion from $1.36 billion in the same period last year. U.S. Consumer segment favorability was
  evidence_url: https://www.sec.gov/Archives/edgar/data/825542/000154638024000021/0001546380-24-000021-index.htm
- Earnings Releases
  SCOTTS MIRACLE-GRO CO updated its fiscal 2024 guidance (reaffirmed).
  - Period: fiscal 2024
  - Guidance: reaffirmed
  - Result: guidance update
  source text: The Company reaffirms its previously announced non-GAAP fiscal 2024 guidance.
  evidence_url: https://www.sec.gov/Archives/edgar/data/825542/000154638024000021/0001546380-24-000021-index.htm
- Earnings Releases
  SCOTTS MIRACLE-GRO CO reported first six months of fiscal 2024 results: revenue sales of $1.94 billion, down 6 percent from $2.06 billion a year earlier, net income GAAP net income was $77.0 million, or $1.34 per diluted share, EPS $1.34 per diluted share.
  - Period: first six months of fiscal 2024
  - Revenue: sales of $1.94 billion, down 6 percent from $2.06 billion a year earlier
  - Net income: GAAP net income was $77.0 million, or $1.34 per diluted share
  - EPS: $1.34 per diluted share
  - Result: reported results
  source text: 6.95 times, well within the covenant maximum of 7.75 times. The maximum EBITDA multiple under the revised leverage ratio covenants decreases to 6.50 in the third quarter and to 6.00 in the fourth quarter of the fiscal year. Going forward, the Company expects to operate well within covenant bounds. The Company recorded pre-tax restructuring charges of $77.0
  evidence_url: https://www.sec.gov/Archives/edgar/data/825542/000154638024000021/0001546380-24-000021-index.htm

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