Scotts Miracle-Gro (SMG) Guides Higher, Citing Strong Demand
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Scotts Miracle-Gro Company (NYSE: SMG) updated its financial outlook for fiscal 2009 based on strong continued demand for its products in the United States. The Company said it expects adjusted earnings for fiscal 2009 to be in a range of $2.35 to $2.45 per share, versus prior guidance of $2.10 to $2.30 and the consensus of $2.15.
Scotts Miracle-Gro also updated its fiscal 2009 outlook for free cash flow to a minimum of $180 million, versus prior guidance of between $150 million and $170 million.
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