The Scotts Miracle Gro SMG reported second-quarter earnings of $3.11 per share, which beat the analyst consensus estimate of $2.74 by 13.5%. This is a 16.48% increase over earnings of $2.67 per share from the same period last year.
The company reported quarterly sales of $1.17 billion, which beat the analyst consensus estimate of $1.07 billion by 9.35%. This is a 17.64% increase over sales of $994.6 million the same period last year.
Scotts Miracle Gro raised fiscal year 2019 EPS guidance from $4.20-$4.40 to $4.35-$4.50 versus a $4.35 estimate.
"Fiscal 2019 continues to deliver outstanding results as nearly every aspect of our business is exceeding our expectations," said CEO Jim Hagedorn. "In the U.S. Consumer segment, retailer and consumer engagement remains extremely positive, leading to sales growth of 10% in the quarter and 9% on a year-to-date basis. The recovery at Hawthorne has been even more impressive, with sales up 49% on an apples-to-apples basis in the quarter and 19% year-to-date through June."
The Scotts Miracle Gro shares were trading up 5.2% at $108.66 in Wednesday’s pre-market session. The stock has a 52-week high of $104.42 and a 52-week low of $57.96.
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