Scotts: Fiscal 3Q Earnings Snapshot
MARYSVILLE, Ohio (AP) _ Scotts Miracle-Gro Co. (SMG) on Tuesday reported fiscal third-quarter earnings of $82.9 million.
On a per-share basis, the Marysville, Ohio-based company said it had profit of $1.47. Earnings, adjusted to account for discontinued operations and non-recurring costs, came to $2.67 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.55 per share.
The lawn and garden products company posted revenue of $994.6 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $996.4 million.
Scotts expects full-year earnings in the range of $3.70 to $3.90 per share.
Scotts shares have fallen 26 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $79.41, a fall of 17 percent in the last 12 months.