Scotts Miracle-Gro Exceeds Expectations with Q1 Loss
MARYSVILLE, Ohio (AP) - Scotts Miracle-Gro Co. (SMG) reported a first-quarter loss of $69.5 million on Wednesday. The Marysville, Ohio-based company posted a per-share loss of $1.21, surpassing analysts' estimates of $1.28.
Excluding asset impairment costs, the loss was 89 cents per share, still exceeding the consensus forecast of seven analysts surveyed by Zacks Investment Research.
Revenue for the quarter stood at $416.8 million, above Zacks' estimate of $393.4 million and underscoring the company's strong performance in the lawn and garden products segment.