Scotts Miracle-Gro Co reports results for the quarter ended in June - Earnings Summary

Scotts Miracle-Gro

31/07/2024 15:15

* Scotts Miracle-Gro Co  SMG.N  reported quarterly adjusted
earnings of $2.31​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of $1.17.  The mean expectation of eight analysts
for the quarter was for earnings of $1.93 per share. Wall Street
expected results to range from $1.74  to $2.20 per share.
    * Revenue rose 7.5% to $1.20 billion from a year ago;
analysts
expected $1.20 billion. 
    * Scotts Miracle-Gro Co's reported EPS for the quarter was
$2.28​.
    * The company reported quarterly net income of $132.1
million.
    * Scotts Miracle-Gro Co shares had risen by 8.0% this
quarter and
gained 10.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.1%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 5
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the agricultural
chemicals peer group is also "buy"

Wall Street's median 12-month price target for Scotts
Miracle-Gro Co is $70.00 
This summary was machine generated from LSEG data July 31 at
02:15 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      1.93           2.31           Beat
 Mar. 31 2024      3.40           3.69           Beat
 Dec. 31 2023      -1.53          -1.45          Beat
 Sep. 30 2023      -2.88          -2.77          Beat