Scotts Miracle-Gro (SMG) Misses Q4 EPS by 2c; Guides In-Line

November 3, 2016 7:09 AM EDT
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Scotts Miracle-Gro (NYSE: SMG) reported Q4 EPS of ($0.30), $0.02 worse than the analyst estimate of ($0.28). Revenue for the quarter came in at $402.3 million versus the consensus estimate of $370 million.

GUIDANCE:

Scotts Miracle-Gro sees FY2017 EPS of $4.10-$4.30, versus the consensus of $4.29.

“This was an outstanding season and a giant step forward in the execution of our long-term strategic plan,” said Jim Hagedorn, chairman and chief executive officer. “Not only did our core business have an exceptional recovery after weather-related challenges at the peak of the season, we also completed the joint venture between Scotts LawnService and TruGreen, closed on two major hydroponics acquisitions and created a new partnership with Bonnie Plants. As we enter Year 2 of ‘Project Focus,’ we will continue with the reconfiguration of our portfolio to add emphasis on our core U.S. consumer business and emerging high-growth opportunities under the Hawthorne Gardening Company umbrella.

“Overall, we remain optimistic about our company-wide growth prospects for 2017 and remain on track to achieve our long-term operating margin goal of 18 percent.”

For earnings history and earnings-related data on Scotts Miracle-Gro (SMG) click here.



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