Scotts Miracle-Gro (SMG) Tops Q1 EPS by 1c; Reaffirms
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ScottsMiracle-Gro Reports Strong First Quarter Results; Announces Minority Investment in Bonnie Plants Related to ‘Project Focus’
February 2, 2016 7:00 AM ESTQ1 sales increased 14% to $245.7 million driven by volume growth and acquisitionsConsumer purchases increase 14% in Q1 driven by strong fall lawn care 580 bps adjusted gross margin rate improvement due to product mix, lower commoditiesAdjusted Q1 seasonal loss of $1.13 per share flat versus year-ago resultsBonnie transaction immediately EPS accretive, provides meaningful long-term potentialScotts LawnService joint venture with TruGreen on track to close in Q2Company reaffirms full-year guidance for sales and adjusted EPS
MARYSVILLE, Ohio, Feb. 02, 2016 (GLOBE NEWSWIRE) -- The Scotts... More
