Scotts Miracle-Gro (SMG) Q1 Earnings Top Estimates, Sales Lag

The Scotts Miracle-Gro Company (SMG) reported a first-quarter fiscal 2024 (ended Dec 31, 2023) loss of $80.5 million or $1.42 per share compared with a loss of $64.7 million or $1.17 per share in the year-ago quarter.Barring one-time items, the adjusted loss was $1.45 per share, wider than a loss of $1.02 a year ago. The figure was narrower than the Zacks Consensus Estimate of a loss of $1.62.Net sales fell around 22% year over year to $410.4 million and also lagged the consensus mark of $423.3 million. Due ...