Scotts Miracle-Gro Co – Q2 Sales Up 5%

By Chris Stiles • Wednesday, April 29 12:37 • Permanent Link

The Scotts Miracle-Gro Company reported second-quarter net sales of $1.46 billion, up 5% from the prior year period.

Gross margin improved sharply, with the company’s gross margin rate rising to 41.8%, an increase of 280 basis points on a GAAP basis and 240 basis points on a non-GAAP adjusted basis.

Earnings also moved higher. GAAP net income from continuing operations came in at $4.46 per share, up 18% year over year, while non-GAAP adjusted net income from continuing operations was $4.53 per share, up 13%.

Adjusted EBITDA increased 9% to $437.4 million.

Leverage improved materially as well. Net leverage fell to 3.71x from 4.41x a year earlier, a reduction of 0.70x.

The company reaffirmed its fiscal 2026 outlook, including low single-digit growth in U.S. consumer net sales, adjusted gross margin of at least 32%, adjusted earnings per share of $4.15 to $4.35, adjusted EBITDA growth in the mid-single digits, and free cash flow of $275 million. Today the company's shares have moved 4.46% to a price of $67.20. For the full picture, make sure to review SCOTTS MIRACLE-GRO CO's 8-K report.

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