UPDATE: Scotts Miracle-Gro Reports 37% Decline In Q3 Profit, Raises Dividend

Scotts Miracle-Gro Company SMG reported a 37% drop in its third-quarter profit. Scotts Miracle-Gro reported its quarterly profit at $111.6 million, or $1.69 per share, down from $175.9 million, or $2.65 per share, in the year-earlier period. Its adjusted earnings came in at $1.91 per share. Scotts Miracle-Gro's sales declined 10% to $1.06 billion. However, analysts were expecting earnings of $2.24 per share on sales of $1.12 billion. Scotts Miracle-Gro now projects adjusted 2011 earnings of $2.95 to $3.05 per share, versus analysts' estimates of $3.19 per share. It also lifted its quarterly dividend to $0.30 per share from $0.25 per share. Scotts Miracle-Gro shares gained 1.01% to close at $45.85 on Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceDividendsEarningsFertilizers & Agricultural ChemicalsMaterials
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!