Gardening Giant Scotts Miracle-Gro Reports 46% YoY Drop In Q4 Net Sales For Its Cannabis-Focused Subsidiary
The Scotts Miracle-Gro Company (NYSE: SMG) announced on Wednesday its results for the full year and fourth quarter ended Sept. 30, 2024."Fiscal 2024 was a strong transition year for the Company in which we continued to transform the business while achieving meaningful top-and bottom-line growth in our core business," Matt Garth, the company's chief financial officer and chief administrative officer, said. "We made strategic investments in marketing and innovation to drive sales and support the long-term health of our brands powered by additional efficiency gains across our organization."Total company net sales were $414.7 million, an increase of 11% from $374.5 million in the same quarter last year. Free cash flow for fiscal 2024 was $583.5 million, compared to $438.2 million a year ago.
