Scotts Miracle-Gro (SMG) Tops Q3 EPS by 13c; Maintains Outlook

Scotts Miracle-Gro (NYSE: SMG) reported Q3 EPS of $2.68, $0.13 better than the analyst estimate of $2.55. Revenue for the quarter came in at $1.21 billion versus the consensus estimate of $1.17 billion.

Scotts Miracle-Gro maintains FY2015 EPS of $3.40-$3.60, versus the consensus of $3.44.

"We've seen meaningful market share gains in key categories, have had a solid year of execution and continue to get outstanding support from our consumers and retail partners," said Jim Hagedorn, chairman and chief executive officer. "I'm pleased with our overall execution in the areas that we can control and I applaud our associates for their continued focus. But whether it was the harsh and extended winter in the Northeast, historic flooding in Texas, the record rainfall this summer in the Midwest or the drought in California, 2015 has been a season of extremes.

"The fundamentals of the company remain strong and most of our product categories have fared well. The weather-related impact on lawn fertilizer, however, has caused product mix challenges that will result in a lower-than-expected gross margin rate. Even with those challenges, I am confident in our ability to achieve the earnings guidance we established early this season."

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

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